Baxter International Inc (NYSE:BAX) announced a quarterly dividend on Tuesday, July 16th, Zacks reports. Shareholders of record on Friday, August 30th will be given a dividend of 0.22 per share by the medical instruments supplier on Tuesday, October 1st. This represents a $0.88 annualized dividend and a yield of 1.06%. The ex-dividend date of this dividend is Thursday, August 29th.
Baxter International has decreased its dividend payment by an average of 25.2% annually over the last three years and has increased its dividend every year for the last 2 years. Baxter International has a payout ratio of 29.5% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Baxter International to earn $3.72 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 23.7%.
Baxter International stock opened at $82.65 on Thursday. The company has a current ratio of 1.83, a quick ratio of 1.30 and a debt-to-equity ratio of 0.50. The business’s 50-day moving average price is $79.67. The stock has a market capitalization of $41.87 billion, a price-to-earnings ratio of 27.10, a P/E/G ratio of 1.93 and a beta of 0.99. Baxter International has a 1-year low of $61.05 and a 1-year high of $82.85.
Baxter International (NYSE:BAX) last posted its earnings results on Thursday, April 25th. The medical instruments supplier reported $0.76 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.08. The company had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.61 billion. Baxter International had a net margin of 14.27% and a return on equity of 20.04%. Baxter International’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.70 earnings per share. Sell-side analysts anticipate that Baxter International will post 3.32 earnings per share for the current year.
A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. increased their target price on shares of Vermilion Energy from C$42.00 to C$43.00 in a report on Monday, May 13th. Wells Fargo & Co upgraded shares of Centurylink from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $12.00 to $14.00 in a report on Wednesday, June 26th. Piper Jaffray Companies reiterated a “buy” rating on shares of Beigene in a report on Thursday, June 20th. Barclays increased their target price on shares of Zimmer Biomet from $113.00 to $117.00 and gave the stock an “underweight” rating in a report on Monday, April 15th. Finally, KeyCorp assumed coverage on shares of Baxter International in a report on Tuesday, June 25th. They set a “sector weight” rating for the company. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $79.20.
In related news, SVP Jacqueline Kunzler sold 593 shares of the stock in a transaction dated Wednesday, June 19th. The shares were sold at an average price of $80.46, for a total value of $47,712.78. Following the completion of the transaction, the senior vice president now directly owns 9,023 shares of the company’s stock, valued at $725,990.58. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John D. Forsyth sold 1,320 shares of the stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $78.21, for a total transaction of $103,237.20. Following the completion of the transaction, the director now directly owns 32,779 shares of the company’s stock, valued at $2,563,645.59. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,002,913 shares of company stock valued at $382,077,150. 0.70% of the stock is owned by insiders.
Baxter International Company Profile
Baxter International Inc, through its subsidiaries, develops and provides a portfolio of healthcare products. The company operates through North and South America; Europe, Middle East and Africa; and Asia-Pacific segments. The company offers peritoneal dialysis and hemodialysis, and additional dialysis therapies and services; renal replacement therapies and other organ support therapies focused in the intensive care unit; sterile intravenous (IV) solutions, IV therapies, infusion pumps, administration sets, and drug reconstitution devices; and parenteral nutrition therapies.
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