Baxter International Target of Unusually High Options Trading (NYSE:BAX)

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Baxter International Inc (NYSE:BAX) was the target of unusually large options trading activity on Tuesday. Investors purchased 1,833 put options on the stock. This represents an increase of approximately 2,482% compared to the typical daily volume of 71 put options.

BAX has been the topic of several research analyst reports. JPMorgan Chase & Co. set a $94.00 price objective on shares of Baxter International and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Credit Suisse Group raised their price objective on shares of Baxter International from $84.00 to $95.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Barclays set a $82.00 price objective on shares of Baxter International and gave the stock a “hold” rating in a research note on Friday, July 26th. Deutsche Bank initiated coverage on shares of Baxter International in a research note on Monday. They issued a “buy” rating and a $109.00 price objective on the stock. Finally, Raymond James raised their price objective on shares of Baxter International from $84.00 to $95.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $87.13.

BAX opened at $87.95 on Thursday. Baxter International has a fifty-two week low of $61.05 and a fifty-two week high of $89.93. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.78 and a quick ratio of 2.10. The firm’s fifty day moving average price is $87.25 and its two-hundred day moving average price is $82.16. The company has a market capitalization of $45.16 billion, a P/E ratio of 28.84, a P/E/G ratio of 2.05 and a beta of 0.99.

Baxter International (NYSE:BAX) last posted its quarterly earnings results on Thursday, July 25th. The medical instruments supplier reported $0.89 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.08. Baxter International had a net margin of 14.28% and a return on equity of 21.21%. The firm had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.80 billion. During the same quarter in the previous year, the company earned $0.77 earnings per share. The business’s revenue was down .1% compared to the same quarter last year. On average, equities research analysts expect that Baxter International will post 3.37 EPS for the current fiscal year.

In other news, SVP Andrew Frye sold 3,332 shares of the firm’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $88.00, for a total value of $293,216.00. Following the sale, the senior vice president now owns 16,391 shares in the company, valued at $1,442,408. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Jacqueline Kunzler sold 5,934 shares of the firm’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $88.12, for a total transaction of $522,904.08. Following the completion of the sale, the senior vice president now owns 3,089 shares in the company, valued at approximately $272,202.68. The disclosure for this sale can be found here. In the last 90 days, insiders sold 17,396 shares of company stock worth $1,528,575. 0.70% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of BAX. Personal Wealth Partners acquired a new stake in Baxter International during the second quarter worth $29,000. TRUE Private Wealth Advisors acquired a new stake in shares of Baxter International in the 2nd quarter valued at $29,000. Old North State Trust LLC acquired a new stake in shares of Baxter International in the 3rd quarter valued at $31,000. Evolution Wealth Advisors LLC acquired a new stake in shares of Baxter International in the 2nd quarter valued at $32,000. Finally, Manchester Financial Inc. acquired a new stake in shares of Baxter International in the 2nd quarter valued at $37,000. Hedge funds and other institutional investors own 83.51% of the company’s stock.

About Baxter International

Baxter International Inc, through its subsidiaries, develops and provides a portfolio of healthcare products. The company operates through North and South America; Europe, Middle East and Africa; and Asia-Pacific segments. The company offers peritoneal dialysis and hemodialysis, and additional dialysis therapies and services; renal replacement therapies and other organ support therapies focused in the intensive care unit; sterile intravenous (IV) solutions, IV therapies, infusion pumps, administration sets, and drug reconstitution devices; and parenteral nutrition therapies.

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