Stock Traders Buy Large Volume of Baxter International Put Options (NYSE:BAX)

Baxter International Inc. (NYSE:BAX) was the recipient of unusually large options trading activity on Thursday. Traders bought 6,792 put options on the stock. This represents an increase of approximately 92% compared to the average daily volume of 3,538 put options.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Citigroup boosted their price target on shares of Baxter International from $38.00 to $40.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 1st. Morgan Stanley lowered Baxter International from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $39.00 to $30.00 in a research report on Monday, July 15th. The Goldman Sachs Group raised their price objective on shares of Baxter International from $36.00 to $40.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. StockNews.com upgraded Baxter International from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. Finally, Wells Fargo & Company dropped their price target on Baxter International from $44.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $41.20.

Institutional Trading of Baxter International

A number of hedge funds have recently modified their holdings of the company. Bank of New York Mellon Corp raised its holdings in shares of Baxter International by 73.2% during the second quarter. Bank of New York Mellon Corp now owns 6,772,533 shares of the medical instruments supplier’s stock worth $226,541,000 after acquiring an additional 2,862,626 shares during the period. LSV Asset Management acquired a new position in Baxter International during the second quarter worth $140,296,000. Shapiro Capital Management LLC grew its position in Baxter International by 19.7% in the second quarter. Shapiro Capital Management LLC now owns 3,285,048 shares of the medical instruments supplier’s stock valued at $109,885,000 after purchasing an additional 541,575 shares in the last quarter. Thompson Siegel & Walmsley LLC acquired a new position in shares of Baxter International during the 2nd quarter worth about $67,263,000. Finally, Coho Partners Ltd. acquired a new stake in shares of Baxter International in the third quarter valued at about $57,229,000. 90.19% of the stock is currently owned by institutional investors and hedge funds.

Baxter International Trading Down 2.4 %

Shares of BAX traded down $0.88 during trading hours on Thursday, hitting $35.23. 945,190 shares of the stock traded hands, compared to its average volume of 4,014,688. The business has a fifty day moving average of $37.50 and a 200-day moving average of $36.16. The firm has a market capitalization of $17.97 billion, a PE ratio of 7.43, a price-to-earnings-growth ratio of 1.21 and a beta of 0.60. Baxter International has a 1-year low of $32.48 and a 1-year high of $44.01. The company has a current ratio of 1.40, a quick ratio of 0.91 and a debt-to-equity ratio of 1.35.

Baxter International (NYSE:BAX) last announced its quarterly earnings data on Tuesday, August 6th. The medical instruments supplier reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.02. Baxter International had a net margin of 16.51% and a return on equity of 18.06%. The business had revenue of $3.81 billion for the quarter, compared to analyst estimates of $3.75 billion. During the same period in the prior year, the business posted $0.55 earnings per share. Baxter International’s revenue was up 2.8% compared to the same quarter last year. Analysts expect that Baxter International will post 2.96 EPS for the current year.

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.