Rep. Debbie Wasserman Schultz Buys Shares of Baxter International Inc. (NYSE:BAX)

Representative Debbie Wasserman Schultz (D-Florida) recently bought shares of Baxter International Inc. (NYSE:BAX). In a filing disclosed on November 20th, the Representative disclosed that they had bought between $1,001 and $15,000 in Baxter International stock on November 18th.

Representative Debbie Wasserman Schultz also recently made the following trade(s):

• Sold $1,001 – $15,000 in shares of New Gold (NYSE:NGD) on 11/18/2024.
• Purchased $1,001 – $15,000 in shares of Patterson-UTI Energy (NASDAQ:PTEN) on 10/23/2024.
• Purchased $1,001 – $15,000 in shares of Viasat (NASDAQ:VSAT) on 10/23/2024.

Baxter International Stock Up 0.7 %

NYSE BAX opened at $33.21 on Friday. The business has a fifty day moving average price of $36.21 and a two-hundred day moving average price of $35.67. The stock has a market capitalization of $16.96 billion, a PE ratio of 166.06, a PEG ratio of 12.91 and a beta of 0.60. Baxter International Inc. has a fifty-two week low of $31.60 and a fifty-two week high of $44.01. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.43 and a quick ratio of 1.09.

Baxter International (NYSE:BAX) last announced its quarterly earnings data on Friday, November 8th. The medical instruments supplier reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.02. Baxter International had a return on equity of 18.30% and a net margin of 0.77%. The business had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $3.85 billion. During the same period in the prior year, the company earned $0.68 EPS. Baxter International’s revenue for the quarter was up 3.8% on a year-over-year basis. Equities analysts expect that Baxter International Inc. will post 1.98 earnings per share for the current fiscal year.

Baxter International Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, November 29th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.68 annualized dividend and a yield of 2.05%. Baxter International’s dividend payout ratio is currently 580.03%.

Analysts Set New Price Targets

A number of research analysts have recently commented on BAX shares. JPMorgan Chase & Co. dropped their price target on Baxter International from $44.00 to $42.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Wells Fargo & Company dropped their target price on Baxter International from $44.00 to $40.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 7th. The Goldman Sachs Group boosted their price target on Baxter International from $36.00 to $40.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Stifel Nicolaus lowered their price objective on Baxter International from $46.00 to $38.00 and set a “buy” rating for the company in a research note on Monday, November 11th. Finally, StockNews.com downgraded shares of Baxter International from a “buy” rating to a “hold” rating in a research report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $40.91.

Institutional Investors Weigh In On Baxter International

Several large investors have recently modified their holdings of BAX. LSV Asset Management acquired a new stake in Baxter International during the 2nd quarter worth about $140,296,000. Bank of New York Mellon Corp grew its stake in Baxter International by 73.2% during the second quarter. Bank of New York Mellon Corp now owns 6,772,533 shares of the medical instruments supplier’s stock worth $226,541,000 after purchasing an additional 2,862,626 shares during the period. Thompson Siegel & Walmsley LLC bought a new stake in Baxter International in the second quarter worth approximately $67,263,000. Coho Partners Ltd. bought a new stake in Baxter International in the third quarter worth approximately $57,229,000. Finally, Shapiro Capital Management LLC lifted its stake in Baxter International by 19.7% in the second quarter. Shapiro Capital Management LLC now owns 3,285,048 shares of the medical instruments supplier’s stock valued at $109,885,000 after buying an additional 541,575 shares during the period. 90.19% of the stock is currently owned by institutional investors and hedge funds.

About Representative Wasserman Schultz

Debbie Wasserman Schultz (Democratic Party) is a member of the U.S. House, representing Florida’s 25th Congressional District. She assumed office on January 3, 2023. Her current term ends on January 3, 2025. Wasserman Schultz (Democratic Party) is running for re-election to the U.S. House to represent Florida’s 25th Congressional District. She declared candidacy for the Democratic primary scheduled on August 20, 2024. Wasserman Schultz was first elected to the U.S. House in 2004 from District 20. She previously represented District 34 of the Florida State Senate from 2003 to 2004, District 32 of the Florida State Senate from 2001 to 2003, and District 97 of the Florida House of Representatives from 1993 to 2001. She served as one of the Chief Deputy Whips of the Democratic caucus for the 113th Congress. She also served as the chair of the Democratic National Committee. On July 24, 2016, Wasserman Schultz announced that she would resign her leadership position at the end of the party’s convention. Wasserman Schultz was considered a possible candidate in 2016 for U.S. Senate. However, she announced on March 17, 2015, that she would not seek the Senate seat and would instead run for re-election to the House. Debbie Wasserman Schultz was born in Forest Hills, New York. Wasserman Schultz graduated from Half Hollow Hills High School East in 1984. She earned a B.A. and M.A. from the University of Florida in 1988 and 1990, respectively. Wasserman Schultz’s career experience includes working as a staffer to former U.S. Representative Peter Deutsch.

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.