Baxter International Inc. (BAX) To Go Ex-Dividend on May 31st

Baxter International Inc. (NYSE:BAX) announced a quarterly dividend on Tuesday, May 7th, Wall Street Journal reports. Investors 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 3.25%. The ex-dividend date of this dividend is Friday, May 31st.

Baxter International has increased its dividend by an average of 6.7% per year over the last three years. Baxter International has a dividend payout ratio of 36.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Baxter International to earn $3.18 per share next year, which means the company should continue to be able to cover its $1.16 annual dividend with an expected future payout ratio of 36.5%.

Baxter International Stock Performance

NYSE BAX traded down $0.02 during trading hours on Thursday, reaching $35.73. The company’s stock had a trading volume of 1,416,981 shares, compared to its average volume of 3,761,713. The company has a current ratio of 1.48, a quick ratio of 1.01 and a debt-to-equity ratio of 1.35. The business has a 50-day simple moving average of $41.30 and a 200 day simple moving average of $38.89. Baxter International has a 52 week low of $31.01 and a 52 week high of $50.21. The stock has a market cap of $18.21 billion, a PE ratio of 6.86, a PEG ratio of 1.97 and a beta of 0.64.

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

Wall Street Analysts Forecast Growth

BAX has been the topic of several recent research reports. UBS Group cut their price objective on shares of Baxter International from $40.00 to $36.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 6th. StockNews.com raised Baxter International from a “hold” rating to a “buy” rating in a report on Friday, January 19th. Bank of America increased their price objective on Baxter International from $42.00 to $45.00 and gave the stock a “neutral” rating in a report on Tuesday, March 5th. Barclays lifted their target price on Baxter International from $52.00 to $54.00 and gave the company an “overweight” rating in a research note on Monday, February 12th. Finally, Citigroup increased their price target on Baxter International from $41.00 to $44.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 3rd. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $46.30.

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.