Baxter International Inc (BAX) Announces Quarterly Dividend of $0.22

Baxter International Inc (NYSE:BAX) announced a quarterly dividend on Tuesday, May 7th, RTT News reports. Shareholders of record on Friday, June 7th will be paid a dividend of 0.22 per share by the medical instruments supplier on Monday, July 1st. This represents a $0.88 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date is Thursday, June 6th. This is a positive change from Baxter International’s previous quarterly dividend of $0.19.

Baxter International has decreased its dividend by an average of 25.2% annually over the last three years and has raised its dividend annually for the last 2 consecutive years. Baxter International has a payout ratio of 25.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect Baxter International to earn $3.71 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 20.5%.

Shares of Baxter International stock opened at $76.69 on Wednesday. Baxter International has a fifty-two week low of $61.05 and a fifty-two week high of $82.25. The company has a current ratio of 2.09, a quick ratio of 1.50 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $39.51 billion, a price-to-earnings ratio of 25.14, a P/E/G ratio of 1.82 and a beta of 0.96.

Baxter International (NYSE:BAX) last issued its earnings results on Thursday, April 25th. The medical instruments supplier reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.08. Baxter International had a net margin of 14.27% and a return on equity of 19.50%. The firm had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.61 billion. During the same quarter last year, the business posted $0.70 earnings per share. The company’s quarterly revenue was down 1.7% on a year-over-year basis. Equities analysts anticipate that Baxter International will post 3.32 EPS for the current fiscal year.

In other news, Director Peter S. Hellman sold 5,680 shares of Baxter International stock in a transaction on Monday, April 1st. The shares were sold at an average price of $81.89, for a total transaction of $465,135.20. Following the transaction, the director now owns 28,774 shares in the company, valued at $2,356,302.86. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Thomas T. Stallkamp sold 1,000 shares of Baxter International stock in a transaction on Friday, March 1st. The stock was sold at an average price of $75.16, for a total transaction of $75,160.00. Following the transaction, the director now owns 6,780 shares in the company, valued at approximately $509,584.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 57,187 shares of company stock worth $4,447,619. 0.70% of the stock is owned by company insiders.

BAX has been the topic of a number of research analyst reports. Zacks Investment Research upgraded shares of Baxter International from a “sell” rating to a “hold” rating in a research report on Friday, January 11th. Piper Jaffray Companies restated an “overweight” rating and issued a $80.00 target price on shares of Baxter International in a research report on Friday, February 1st. Barclays upgraded shares of Baxter International from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $67.00 to $72.00 in a research report on Friday, February 1st. Morgan Stanley raised their target price on shares of Baxter International from $80.00 to $83.00 and gave the company an “overweight” rating in a research report on Tuesday, March 5th. Finally, Wells Fargo & Co raised their target price on shares of Baxter International from $80.00 to $89.00 and gave the company an “outperform” rating in a research report on Wednesday, April 3rd. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Baxter International presently has an average rating of “Buy” and a consensus target price of $78.50.

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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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Dividend History for Baxter International (NYSE:BAX)

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