Baxter International Inc. Plans Quarterly Dividend of $0.17 (NYSE:BAX)

Baxter International Inc. (NYSE:BAX) announced a quarterly dividend on Monday, November 11th,RTT News reports. Stockholders of record on Friday, November 29th will be given a dividend of 0.17 per share by the medical instruments supplier on Thursday, January 2nd. This represents a $0.68 annualized dividend and a dividend yield of 2.04%. The ex-dividend date is Friday, November 29th.

Baxter International has raised its dividend payment by an average of 6.7% annually over the last three years. Baxter International has a payout ratio of 25.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Baxter International to earn $2.60 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 26.2%.

Baxter International Stock Up 1.3 %

Shares of NYSE:BAX opened at $33.30 on Thursday. The business’s 50 day moving average is $35.81 and its 200 day moving average is $35.61. The stock has a market cap of $17.00 billion, a P/E ratio of 166.51, a price-to-earnings-growth ratio of 13.27 and a beta of 0.60. Baxter International has a 52-week low of $31.60 and a 52-week high of $44.01. The company has a quick ratio of 1.09, a current ratio of 1.43 and a debt-to-equity ratio of 1.31.

Baxter International (NYSE:BAX) last announced its quarterly earnings results on Friday, November 8th. The medical instruments supplier reported $0.80 EPS for the quarter, beating the consensus estimate of $0.78 by $0.02. The firm had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.85 billion. Baxter International had a return on equity of 18.30% and a net margin of 0.77%. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.68 earnings per share. Sell-side analysts predict that Baxter International will post 1.98 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently commented on BAX. StockNews.com lowered shares of Baxter International from a “buy” rating to a “hold” rating in a report on Monday, November 11th. Stifel Nicolaus reduced their price objective on shares of Baxter International from $46.00 to $38.00 and set a “buy” rating for the company in a research note on Monday, November 11th. JPMorgan Chase & Co. cut their price target on Baxter International from $44.00 to $42.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Citigroup upped their price objective on Baxter International from $38.00 to $40.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 1st. Finally, Wells Fargo & Company dropped their price objective 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 investment analyst has rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $40.91.

About Baxter International

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.