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

Baxter International Inc. (NYSE:BAX) saw some unusual options trading activity on Friday. Investors purchased 22,430 put options on the stock. This is an increase of approximately 624% compared to the typical volume of 3,100 put options.

Baxter International Stock Performance

Shares of Baxter International stock opened at $29.50 on Friday. The firm has a market cap of $15.06 billion, a PE ratio of 147.51, a price-to-earnings-growth ratio of 12.74 and a beta of 0.57. The company has a quick ratio of 1.09, a current ratio of 1.43 and a debt-to-equity ratio of 1.31. Baxter International has a 52 week low of $28.62 and a 52 week high of $44.01. The business’s fifty day simple moving average is $33.70 and its 200-day simple moving average is $35.24.

Baxter International (NYSE:BAX) last posted its earnings results on Friday, November 8th. The medical instruments supplier reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.02. Baxter International had a net margin of 0.77% and a return on equity of 18.30%. The company had revenue of $3.85 billion for the quarter, compared to analysts’ expectations of $3.85 billion. During the same quarter in the prior year, the company posted $0.68 earnings per share. Baxter International’s revenue for the quarter was up 3.8% compared to the same quarter last year. Equities analysts forecast that Baxter International will post 1.92 earnings per share for the current year.

Baxter International Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, November 29th will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date is Friday, November 29th. Baxter International’s payout ratio is 340.00%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in BAX. Geode Capital Management LLC raised its holdings in shares of Baxter International by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 12,156,660 shares of the medical instruments supplier’s stock valued at $460,022,000 after buying an additional 170,776 shares during the period. Entropy Technologies LP grew its position in Baxter International by 213.5% in the 3rd quarter. Entropy Technologies LP now owns 23,192 shares of the medical instruments supplier’s stock valued at $881,000 after acquiring an additional 15,794 shares in the last quarter. Toronto Dominion Bank increased its stake in Baxter International by 15.4% during the third quarter. Toronto Dominion Bank now owns 170,855 shares of the medical instruments supplier’s stock worth $6,487,000 after purchasing an additional 22,787 shares during the period. Sivik Global Healthcare LLC lifted its position in shares of Baxter International by 50.0% during the third quarter. Sivik Global Healthcare LLC now owns 150,000 shares of the medical instruments supplier’s stock worth $5,696,000 after purchasing an additional 50,000 shares in the last quarter. Finally, Coho Partners Ltd. purchased a new position in shares of Baxter International in the third quarter valued at approximately $57,229,000. 90.19% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. StockNews.com lowered shares of Baxter International from a “buy” rating to a “hold” rating in a research note on Monday, November 11th. Stifel Nicolaus reduced their price objective on Baxter International from $46.00 to $38.00 and set a “buy” rating on the stock in a research report on Monday, November 11th. Finally, Citigroup dropped their target price on Baxter International from $37.00 to $35.00 and set a “neutral” rating for the company in a report on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $40.45.

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.