Baxter International (NYSE:BAX) Shares Gap Up Following Earnings Beat

Baxter International Inc. (NYSE:BAX)’s share price gapped up prior to trading on Thursday following a better than expected earnings announcement. The stock had previously closed at $30.82, but opened at $33.29. Baxter International shares last traded at $33.23, with a volume of 1,512,522 shares traded.

The medical instruments supplier reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.06. Baxter International had a return on equity of 18.30% and a net margin of 0.77%.

Baxter International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, February 28th will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 2.03%. The ex-dividend date of this dividend is Friday, February 28th. Baxter International’s payout ratio is 340.02%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on BAX shares. Stifel Nicolaus cut their price target on Baxter International from $46.00 to $38.00 and set a “buy” rating on the stock in a report on Monday, November 11th. StockNews.com lowered Baxter International from a “buy” rating to a “hold” rating in a research note on Monday, November 11th. Barclays began coverage on Baxter International in a report on Thursday. They issued an “overweight” rating and a $39.00 price objective on the stock. Finally, Citigroup decreased their price target on Baxter International from $37.00 to $35.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $39.40.

Institutional Investors Weigh In On Baxter International

Hedge funds have recently added to or reduced their stakes in the company. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Baxter International by 1.9% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,160,666 shares of the medical instruments supplier’s stock worth $33,845,000 after purchasing an additional 21,592 shares in the last quarter. Nicholas Hoffman & Company LLC. acquired a new position in Baxter International in the 4th quarter worth $907,000. Geode Capital Management LLC increased its position 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 worth $460,022,000 after purchasing an additional 170,776 shares during the last quarter. Entropy Technologies LP grew its position in shares of Baxter International by 213.5% during the 3rd quarter. Entropy Technologies LP now owns 23,192 shares of the medical instruments supplier’s stock valued at $881,000 after buying an additional 15,794 shares during the last quarter. Finally, Toronto Dominion Bank increased its stake in shares of Baxter International by 15.4% in the third quarter. Toronto Dominion Bank now owns 170,855 shares of the medical instruments supplier’s stock valued at $6,487,000 after purchasing an additional 22,787 shares during the period. Institutional investors and hedge funds own 90.19% of the company’s stock.

Baxter International Stock Up 8.5 %

The firm’s 50 day simple moving average is $30.57 and its 200 day simple moving average is $34.14. The company has a quick ratio of 1.09, a current ratio of 1.43 and a debt-to-equity ratio of 1.31. The company has a market cap of $17.07 billion, a price-to-earnings ratio of 167.18, a price-to-earnings-growth ratio of 9.95 and a beta of 0.61.

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.