Teacher Retirement System of Texas lifted its holdings in Baxter International Inc (NYSE:BAX) by 20.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 861,416 shares of the medical instruments supplier’s stock after acquiring an additional 148,737 shares during the period. Teacher Retirement System of Texas’ holdings in Baxter International were worth $63,607,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in BAX. Migdal Insurance & Financial Holdings Ltd. lifted its stake in Baxter International by 3,088.9% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,435 shares of the medical instruments supplier’s stock worth $106,000 after purchasing an additional 1,390 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its stake in Baxter International by 84.4% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,748 shares of the medical instruments supplier’s stock worth $126,000 after purchasing an additional 800 shares during the last quarter. Vigilant Capital Management LLC bought a new stake in Baxter International in the second quarter worth about $131,000. Ostrum Asset Management bought a new stake in Baxter International in the first quarter worth about $121,000. Finally, Edge Wealth Management LLC bought a new stake in Baxter International in the second quarter worth about $159,000. 83.22% of the stock is owned by hedge funds and other institutional investors.
Baxter International opened at $71.50 on Friday, Marketbeat.com reports. The company has a quick ratio of 2.03, a current ratio of 2.62 and a debt-to-equity ratio of 0.39. Baxter International Inc has a fifty-two week low of $59.62 and a fifty-two week high of $76.51. The company has a market cap of $38.50 billion, a PE ratio of 26.21, a P/E/G ratio of 1.80 and a beta of 0.77.
Baxter International (NYSE:BAX) last posted its quarterly earnings results on Thursday, July 26th. The medical instruments supplier reported $0.77 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.06. Baxter International had a net margin of 8.29% and a return on equity of 16.63%. The firm had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.83 billion. During the same quarter in the previous year, the firm posted $0.63 earnings per share. The company’s revenue was up 9.1% on a year-over-year basis. sell-side analysts predict that Baxter International Inc will post 2.98 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 1st. Stockholders of record on Friday, August 31st will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.06%. The ex-dividend date is Thursday, August 30th. Baxter International’s dividend payout ratio is presently 30.65%.
In other news, SVP Scott Pleau sold 27,197 shares of Baxter International 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 completion of the sale, the senior vice president now owns 47,363 shares of the company’s stock, valued at $3,484,495.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Carole J. Shapazian sold 5,400 shares of Baxter International stock in a transaction that occurred on Wednesday, August 8th. The shares were sold at an average price of $72.97, for a total transaction of $394,038.00. Following the sale, the director now directly owns 15,248 shares of the company’s stock, valued at approximately $1,112,646.56. The disclosure for this sale can be found here. Insiders have sold 94,877 shares of company stock valued at $6,880,155 in the last ninety days. Insiders own 0.05% of the company’s stock.
BAX has been the subject of several analyst reports. Stifel Nicolaus raised their price objective on shares of Baxter International from $71.00 to $72.00 and gave the stock a “hold” rating in a research note on Monday, April 30th. 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 research note on Monday, April 30th. Zacks Investment Research downgraded shares of Baxter International from a “buy” rating to a “hold” rating in a research note on Wednesday, May 16th. Piper Jaffray Companies initiated coverage on shares of Baxter International in a research note on Thursday, May 17th. They issued an “overweight” rating and a $77.00 price objective for the company. Finally, Bank of America raised their price objective on shares of Baxter International from $73.00 to $83.00 and gave the stock a “buy” rating in a research note on Tuesday, May 22nd. Six equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Baxter International presently has a consensus rating of “Buy” and an average target price of $76.00.
Baxter International Company 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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