Baxter International Inc. (NYSE:BAX) Plans $0.29 Quarterly Dividend

Baxter International Inc. (NYSE:BAX) declared a quarterly dividend on Wednesday, May 8th, Wall Street Journal reports. Shareholders of record on Friday, May 31st will be given a dividend of 0.29 per share by the medical instruments supplier on Monday, July 1st. This represents a $1.16 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date of this dividend is Friday, May 31st.

Baxter International has increased its dividend by an average of 6.7% per year over the last three years.

Baxter International Trading Down 0.8 %

Shares of BAX traded down $0.28 during trading on Wednesday, reaching $35.84. 3,236,334 shares of the company traded hands, compared to its average volume of 3,763,206. The stock has a 50-day simple moving average of $41.30 and a 200-day simple moving average of $38.89. The company has a quick ratio of 1.01, a current ratio of 1.48 and a debt-to-equity ratio of 1.35. Baxter International has a twelve month low of $31.01 and a twelve month high of $50.21. The stock has a market cap of $18.26 billion, a PE ratio of 6.95, a price-to-earnings-growth ratio of 1.97 and a beta of 0.64.

Baxter International (NYSE:BAX) last posted its earnings results on Thursday, May 2nd. The medical instruments supplier reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.04. Baxter International had a net margin of 17.79% and a return on equity of 18.47%. The firm had revenue of $3.59 billion during the quarter, compared to the consensus estimate of $3.55 billion. During the same quarter last year, the firm earned $0.59 EPS. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. On average, analysts anticipate that Baxter International will post 2.9 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on BAX. Citigroup increased their price target on shares of Baxter International from $41.00 to $44.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 3rd. UBS Group decreased their target price on Baxter International from $40.00 to $36.00 and set a “neutral” rating for the company in a report on Tuesday, February 6th. JPMorgan Chase & Co. upped their price target on Baxter International from $38.00 to $44.00 and gave the stock a “neutral” rating in a report on Friday, February 9th. Barclays raised their target price on shares of Baxter International from $52.00 to $54.00 and gave the stock an “overweight” rating in a research report on Monday, February 12th. Finally, Bank of America increased their target price on Baxter International from $42.00 to $45.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 5th. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $46.30.

About Baxter International

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.