Verition Fund Management LLC boosted its holdings in Baxter International Inc (NYSE:BAX) by 96.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 29,507 shares of the medical instruments supplier’s stock after buying an additional 14,465 shares during the period. Verition Fund Management LLC’s holdings in Baxter International were worth $1,919,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in BAX. Robecosam AG acquired a new stake in Baxter International in the fourth quarter worth $103,000. Ostrum Asset Management acquired a new stake in Baxter International in the first quarter worth $121,000. Trustcore Financial Services LLC acquired a new stake in Baxter International in the fourth quarter worth $131,000. Truewealth LLC acquired a new stake in Baxter International in the fourth quarter worth $159,000. Finally, IHT Wealth Management LLC raised its holdings in shares of Baxter International by 71.9% during the first quarter. IHT Wealth Management LLC now owns 2,462 shares of the medical instruments supplier’s stock worth $156,000 after acquiring an additional 1,030 shares during the period. Institutional investors and hedge funds own 83.44% of the company’s stock.
Shares of Baxter International opened at $73.84 on Friday, MarketBeat reports. The company has a market capitalization of $39.52 billion, a PE ratio of 29.77, a PEG ratio of 1.91 and a beta of 0.81. The company has a quick ratio of 2.03, a current ratio of 2.63 and a debt-to-equity ratio of 0.39. Baxter International Inc has a 12 month low of $58.81 and a 12 month high of $75.62.
Baxter International (NYSE:BAX) last announced its quarterly earnings results on Thursday, April 26th. The medical instruments supplier reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.08. The company had revenue of $2.68 billion for the quarter, compared to analyst estimates of $2.62 billion. Baxter International had a net margin of 7.75% and a return on equity of 15.70%. The firm’s revenue was up 8.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.58 EPS. research analysts expect that Baxter International Inc will post 2.89 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 2nd. Shareholders of record on Friday, June 1st will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.03%. This is a positive change from Baxter International’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Thursday, May 31st. Baxter International’s payout ratio is presently 30.65%.
In other Baxter International news, SVP Scott Pleau sold 27,197 shares of the business’s stock in a transaction that occurred on Monday, June 25th. The shares were sold at an average price of $73.57, for a total transaction of $2,000,883.29. Following the sale, the senior vice president now directly owns 47,363 shares of the company’s stock, valued at approximately $3,484,495.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Brik V. Eyre sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 15th. The stock was sold at an average price of $70.57, for a total transaction of $1,411,400.00. Following the sale, the senior vice president now directly owns 85,115 shares in the company, valued at $6,006,565.55. The disclosure for this sale can be found here. Insiders have sold a total of 82,551 shares of company stock worth $5,928,089 over the last three months. Insiders own 0.05% of the company’s stock.
A number of equities research analysts recently commented on BAX shares. Citigroup raised their price objective on shares of Baxter International from $70.00 to $72.00 and gave the stock a “neutral” rating in a report on Monday, April 30th. Stifel Nicolaus raised their target price on shares of Baxter International from $71.00 to $72.00 and gave the company a “hold” rating in a research report on Monday, April 30th. Zacks Investment Research raised shares of Baxter International from a “hold” rating to a “buy” rating and set a $73.00 target price for the company in a research report on Monday, March 26th. Finally, Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $77.00 target price on shares of Baxter International in a research report on Thursday, May 31st. Seven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $73.25.
Baxter International Profile
Baxter International Inc provides a portfolio of healthcare products. The company operates through North and South America; Europe, Middle East and Africa; and Asia-Pacific segments. It 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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