Baxter International Sees Unusually Large Options Volume (NYSE:BAX)

Baxter International Inc. (NYSE:BAX) saw some unusual options trading activity on Tuesday. Stock investors bought 20,523 call options on the stock. This represents an increase of 505% compared to the typical daily volume of 3,392 call options.

Analyst Ratings Changes

A number of brokerages have commented on BAX. The Goldman Sachs Group initiated coverage on shares of Baxter International in a research note on Wednesday, February 26th. They issued a “buy” rating and a $42.00 target price on the stock. Argus upgraded Baxter International from a “hold” rating to a “buy” rating in a research note on Monday, February 24th. Morgan Stanley cut their price target on shares of Baxter International from $30.00 to $28.00 and set an “underweight” rating on the stock in a report on Monday, May 5th. Barclays lifted their price target on Baxter International from $39.00 to $41.00 and gave the company an “overweight” rating in a research report on Monday, March 10th. Finally, JPMorgan Chase & Co. dropped their target price on Baxter International from $38.00 to $36.00 and set a “neutral” rating on the stock in a research report on Friday, February 21st. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Baxter International has a consensus rating of “Hold” and a consensus target price of $37.25.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Baxter International by 1.9% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,160,666 shares of the medical instruments supplier’s stock valued at $33,845,000 after purchasing an additional 21,592 shares during the last quarter. Nicholas Hoffman & Company LLC. acquired a new stake in shares of Baxter International in the 4th quarter worth $907,000. Bank of New York Mellon Corp increased its stake in shares of Baxter International by 22.3% during the fourth quarter. Bank of New York Mellon Corp now owns 15,359,040 shares of the medical instruments supplier’s stock worth $447,870,000 after acquiring an additional 2,803,920 shares during the period. Dodge & Cox raised its holdings in Baxter International by 13.0% during the fourth quarter. Dodge & Cox now owns 50,377,294 shares of the medical instruments supplier’s stock worth $1,469,002,000 after purchasing an additional 5,779,100 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its position in Baxter International by 40.4% in the fourth quarter. Russell Investments Group Ltd. now owns 1,745,709 shares of the medical instruments supplier’s stock valued at $50,904,000 after purchasing an additional 502,370 shares during the period. 90.19% of the stock is currently owned by institutional investors and hedge funds.

Baxter International Trading Up 2.3%

Shares of NYSE:BAX traded up $0.70 during mid-day trading on Tuesday, reaching $31.55. 1,975,990 shares of the company were exchanged, compared to its average volume of 4,418,033. The firm’s 50-day simple moving average is $30.05 and its 200 day simple moving average is $31.39. Baxter International has a 1 year low of $26.25 and a 1 year high of $40.49. The firm has a market cap of $16.19 billion, a price-to-earnings ratio of -24.65, a P/E/G ratio of 0.93 and a beta of 0.61. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.43 and a quick ratio of 1.09.

Baxter International (NYSE:BAX) last released its earnings results on Thursday, May 1st. The medical instruments supplier reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.14. The firm had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.59 billion. Baxter International had a negative net margin of 5.05% and a positive return on equity of 16.67%. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.65 earnings per share. Equities research analysts forecast that Baxter International will post 2.48 EPS for the current year.

Baxter International Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, May 30th will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 2.16%. The ex-dividend date of this dividend is Friday, May 30th. Baxter International’s payout ratio is currently -61.82%.

Baxter International Company Profile

Baxter International Inc, through its subsidiaries, develops and provides a portfolio of healthcare products worldwide. The company operates through four segments: Medical Products and Therapies, Healthcare Systems and Technologies, Pharmaceuticals, and Kidney Care. The company offers sterile intravenous (IV) solutions; infusion systems and devices; parenteral nutrition therapies; generic injectable pharmaceuticals; surgical hemostat and sealant products, advanced surgical equipment; smart bed systems; patient monitoring and diagnostic technologies; and respiratory health devices, as well as advanced equipment for the surgical space, including surgical video technologies, precision positioning devices, and other accessories.