Tredje AP fonden boosted its stake in shares of Baxter International Inc (NYSE:BAX) by 3.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 128,814 shares of the medical instruments supplier’s stock after purchasing an additional 4,388 shares during the quarter. Tredje AP fonden’s holdings in Baxter International were worth $9,537,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently modified their holdings of the company. State of Tennessee Treasury Department boosted its position in Baxter International by 5.0% during the first quarter. State of Tennessee Treasury Department now owns 437,255 shares of the medical instruments supplier’s stock valued at $28,439,000 after purchasing an additional 20,992 shares in the last quarter. Montag A & Associates Inc. bought a new stake in Baxter International during the second quarter valued at about $816,000. Mn Services Vermogensbeheer B.V. boosted its position in Baxter International by 1.3% during the first quarter. Mn Services Vermogensbeheer B.V. now owns 77,105 shares of the medical instruments supplier’s stock valued at $5,015,000 after purchasing an additional 1,000 shares in the last quarter. Old Mutual Global Investors UK Ltd. boosted its position in Baxter International by 13.0% during the first quarter. Old Mutual Global Investors UK Ltd. now owns 3,502,519 shares of the medical instruments supplier’s stock valued at $227,803,000 after purchasing an additional 404,135 shares in the last quarter. Finally, MetLife Investment Advisors LLC boosted its position in Baxter International by 92.8% during the first quarter. MetLife Investment Advisors LLC now owns 299,090 shares of the medical instruments supplier’s stock valued at $19,453,000 after purchasing an additional 143,990 shares in the last quarter. 82.92% of the stock is currently owned by institutional investors.
In other news, Director Carole J. Shapazian sold 6,594 shares of the firm’s stock in a transaction dated Tuesday, May 22nd. The stock was sold at an average price of $71.79, for a total value of $473,383.26. Following the completion of the transaction, the director now directly owns 16,442 shares in the company, valued at $1,180,371.18. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Brik V. Eyre sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, May 22nd. The stock was sold at an average price of $71.96, for a total value of $1,799,000.00. Following the completion of the transaction, the senior vice president now owns 128,777 shares of the company’s stock, valued at $9,266,792.92. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 74,877 shares of company stock valued at $5,468,755. Company insiders own 0.07% of the company’s stock.
A number of research firms have commented on BAX. Citigroup increased their price target on Baxter International from $74.00 to $76.00 and gave the company a “neutral” rating in a research note on Tuesday, July 31st. Zacks Investment Research upgraded Baxter International from a “hold” rating to a “buy” rating and set a $79.00 price target for the company in a research note on Thursday, May 17th. Stifel Nicolaus increased their price target on Baxter International from $71.00 to $72.00 and gave the company a “hold” rating in a research note on Monday, April 30th. Piper Jaffray Companies began coverage on Baxter International in a research note on Thursday, May 17th. They issued an “overweight” rating and a $77.00 price target for the company. Finally, Royal Bank of Canada reiterated a “hold” rating and issued a $76.00 price target on shares of Baxter International in a research note on Friday, July 27th. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Baxter International currently has a consensus rating of “Buy” and an average target price of $76.00.
Baxter International stock traded up $0.16 during midday trading on Monday, reaching $72.20. The company’s stock had a trading volume of 4,914 shares, compared to its average volume of 3,070,864. The company has a debt-to-equity ratio of 0.39, a quick ratio of 2.00 and a current ratio of 2.62. Baxter International Inc has a 52-week low of $60.53 and a 52-week high of $76.51. The stock has a market cap of $38.20 billion, a PE ratio of 29.07, a price-to-earnings-growth ratio of 1.79 and a beta of 0.77.
Baxter International (NYSE:BAX) last announced its quarterly earnings data on Thursday, July 26th. The medical instruments supplier reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.06. Baxter International had a return on equity of 16.63% and a net margin of 8.29%. The firm had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.83 billion. During the same period last year, the business posted $0.63 earnings per share. The company’s revenue for the quarter was up 9.1% compared to the same quarter last year. sell-side analysts predict that Baxter International Inc will post 2.98 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 1st. Stockholders of record on Friday, August 31st will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.05%. The ex-dividend date is Thursday, August 30th. Baxter International’s payout ratio is 30.65%.
About Baxter International
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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