Martingale Asset Management L P boosted its stake in shares of Baxter International Inc (NYSE:BAX) by 3.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 710,723 shares of the medical instruments supplier’s stock after buying an additional 20,628 shares during the period. Baxter International comprises 0.6% of Martingale Asset Management L P’s investment portfolio, making the stock its 26th largest holding. Martingale Asset Management L P owned about 0.13% of Baxter International worth $52,481,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Migdal Insurance & Financial Holdings Ltd. grew its stake in Baxter International by 3,088.9% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,435 shares of the medical instruments supplier’s stock valued at $106,000 after acquiring an additional 1,390 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its stake in Baxter International by 84.4% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,748 shares of the medical instruments supplier’s stock valued at $126,000 after acquiring an additional 800 shares in the last quarter. Vigilant Capital Management LLC purchased a new position in Baxter International during the 2nd quarter valued at about $131,000. Ostrum Asset Management purchased a new position in Baxter International during the 1st quarter valued at about $121,000. Finally, Edge Wealth Management LLC purchased a new position in Baxter International during the 2nd quarter valued at about $159,000. Hedge funds and other institutional investors own 83.35% of the company’s stock.
Shares of BAX stock opened at $72.20 on Tuesday. Baxter International Inc has a 12 month low of $60.53 and a 12 month high of $76.51. The company has a market cap of $38.49 billion, a PE ratio of 29.11, a price-to-earnings-growth ratio of 1.95 and a beta of 0.77. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.62 and a quick ratio of 2.00.
Baxter International (NYSE:BAX) last issued its quarterly earnings results on Thursday, July 26th. The medical instruments supplier reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.06. Baxter International had a return on equity of 16.63% and a net margin of 8.29%. The company had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.83 billion. During the same period in the previous year, the company earned $0.63 earnings per share. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. equities analysts anticipate that Baxter International Inc will post 2.98 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 1st. Stockholders of record on Friday, August 31st will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Thursday, August 30th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.05%. Baxter International’s dividend payout ratio (DPR) is presently 30.65%.
Several brokerages recently commented on BAX. Piper Jaffray Companies reissued an “overweight” rating and issued a $77.00 price target on shares of Baxter International in a research note on Thursday, May 31st. Stifel Nicolaus boosted 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. Citigroup boosted 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 cut Baxter International from a “buy” rating to a “hold” rating in a research note on Wednesday, May 16th. Finally, JPMorgan Chase & Co. boosted their price target on Baxter International from $80.00 to $85.00 and gave the company an “overweight” rating in a research note on Friday, July 27th. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $76.00.
In related news, Director Carole J. Shapazian sold 5,400 shares of the company’s stock in a transaction on Wednesday, August 8th. The stock was sold at an average price of $72.97, for a total value of $394,038.00. Following the completion of the transaction, the director now directly owns 15,248 shares in the company, valued at $1,112,646.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Scott Pleau sold 27,197 shares of the company’s stock in a transaction on Monday, June 25th. The shares were sold at an average price of $73.57, for a total value of $2,000,883.29. Following the completion of the transaction, the senior vice president now owns 47,363 shares of the company’s stock, valued at $3,484,495.91. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 43,283 shares of company stock valued at $3,196,371. Corporate insiders own 0.07% of the company’s stock.
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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