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.
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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