Baxter International Inc. (NYSE:BAX) to Issue $0.29 Quarterly Dividend

Baxter International Inc. (NYSE:BAX) announced a quarterly dividend on Wednesday, May 8th, Wall Street Journal reports. Stockholders of record on Friday, May 31st will be paid a dividend of 0.29 per share by the medical instruments supplier on Monday, July 1st. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date is Friday, May 31st.

Baxter International has increased its dividend payment by an average of 6.7% per year over the last three years.

Baxter International Stock Down 1.0 %

NYSE:BAX opened at $35.75 on Thursday. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.01 and a current ratio of 1.48. The company has a market capitalization of $18.22 billion, a price-to-earnings ratio of 6.88, a price-to-earnings-growth ratio of 1.97 and a beta of 0.64. Baxter International has a one year low of $31.01 and a one year high of $50.21. The stock has a 50-day simple moving average of $41.30 and a 200 day simple moving average of $38.89.

Baxter International (NYSE:BAX) last issued its earnings results on Thursday, May 2nd. The medical instruments supplier reported $0.65 EPS for the quarter, topping the consensus estimate of $0.61 by $0.04. The company had revenue of $3.59 billion during the quarter, compared to analyst estimates of $3.55 billion. Baxter International had a return on equity of 18.47% and a net margin of 17.79%. The business’s revenue was down 1.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.59 EPS. Sell-side analysts predict that Baxter International will post 2.9 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Barclays upped their price objective on Baxter International from $52.00 to $54.00 and gave the stock an “overweight” rating in a research note on Monday, February 12th. JPMorgan Chase & Co. lifted their price objective on shares of Baxter International from $38.00 to $44.00 and gave the company a “neutral” rating in a research report on Friday, February 9th. UBS Group reduced their target price on shares of Baxter International from $40.00 to $36.00 and set a “neutral” rating for the company in a research note on Tuesday, February 6th. Bank of America raised their price target on shares of Baxter International from $42.00 to $45.00 and gave the company a “neutral” rating in a research note on Tuesday, March 5th. Finally, StockNews.com upgraded Baxter International from a “hold” rating to a “buy” rating in a research report on Friday, January 19th. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $46.30.

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.