Baxter International Sees Unusually High Options Volume (NYSE:BAX)

Baxter International Inc. (NYSE:BAX - Get Free Report) was the recipient of some unusual options trading on Thursday. Investors purchased 6,792 put options on the stock. This represents an increase of 92% compared to the typical volume of 3,538 put options.

Wall Street Analyst Weigh In

A number of research firms have weighed in on BAX. Citigroup upped their price target on Baxter International from $38.00 to $40.00 and gave the stock a "neutral" rating in a report on Tuesday, October 1st. Wells Fargo & Company cut their target price on shares of Baxter International from $44.00 to $40.00 and set an "equal weight" rating on the stock in a report on Wednesday, August 7th. Morgan Stanley lowered Baxter International from an "equal weight" rating to an "underweight" rating and decreased their price objective for the stock from $39.00 to $30.00 in a report on Monday, July 15th. JPMorgan Chase & Co. dropped their price objective on Baxter International from $44.00 to $42.00 and set a "neutral" rating on the stock in a research note on Wednesday, August 7th. Finally, StockNews.com upgraded Baxter International from a "hold" rating to a "buy" rating in a research report on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $41.20.

Institutional Investors Weigh In On Baxter International

Several hedge funds have recently modified their holdings of the business. First PREMIER Bank acquired a new stake in Baxter International during the third quarter worth about $25,000. Innealta Capital LLC bought a new stake in shares of Baxter International during the second quarter valued at approximately $27,000. Fortitude Family Office LLC acquired a new position in shares of Baxter International in the third quarter valued at $38,000. LRI Investments LLC acquired a new stake in Baxter International during the first quarter worth $39,000. Finally, Versant Capital Management Inc increased its holdings in Baxter International by 974.2% in the 2nd quarter. Versant Capital Management Inc now owns 1,332 shares of the medical instruments supplier's stock valued at $45,000 after buying an additional 1,208 shares during the period. 90.19% of the stock is owned by institutional investors.

Baxter International Stock Performance

Baxter International stock traded down $0.07 during trading hours on Thursday, reaching $36.04. 5,599,820 shares of the company were exchanged, compared to its average volume of 2,868,874. Baxter International has a 12 month low of $32.48 and a 12 month high of $44.01. The stock has a 50-day moving average of $37.50 and a 200 day moving average of $36.16. The company has a current ratio of 1.40, a quick ratio of 0.91 and a debt-to-equity ratio of 1.35. The firm has a market cap of $18.39 billion, a price-to-earnings ratio of 7.42, a PEG ratio of 1.21 and a beta of 0.60.

Baxter International (NYSE:BAX - Get Free Report) last posted its quarterly earnings data on Tuesday, August 6th. The medical instruments supplier reported $0.68 EPS for the quarter, topping analysts' consensus estimates of $0.66 by $0.02. The business had revenue of $3.81 billion for the quarter, compared to analyst estimates of $3.75 billion. Baxter International had a return on equity of 18.06% and a net margin of 16.51%. The firm's revenue for the quarter was up 2.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.55 earnings per share. As a group, research analysts anticipate that Baxter International will post 2.96 earnings per share 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.