Argent Capital Management LLC Reduces Holdings in Baxter International Inc (BAX)

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Argent Capital Management LLC cut its holdings in shares of Baxter International Inc (NYSE:BAX) by 2.5% during the 2nd quarter, Holdings Channel reports. The firm owned 1,288,236 shares of the medical instruments supplier’s stock after selling 33,695 shares during the quarter. Baxter International makes up approximately 3.4% of Argent Capital Management LLC’s portfolio, making the stock its 4th biggest holding. Argent Capital Management LLC’s holdings in Baxter International were worth $95,123,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. State of Tennessee Treasury Department increased its holdings in shares of Baxter International by 5.0% in the 1st quarter. State of Tennessee Treasury Department now owns 437,255 shares of the medical instruments supplier’s stock valued at $28,439,000 after acquiring an additional 20,992 shares during the last quarter. Montag A & Associates Inc. bought a new stake in shares of Baxter International in the 2nd quarter valued at approximately $816,000. Mn Services Vermogensbeheer B.V. increased its holdings in shares of Baxter International by 1.3% in the 1st quarter. Mn Services Vermogensbeheer B.V. now owns 77,105 shares of the medical instruments supplier’s stock valued at $5,015,000 after acquiring an additional 1,000 shares during the last quarter. Old Mutual Global Investors UK Ltd. increased its holdings in shares of Baxter International by 13.0% in the 1st 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 acquiring an additional 404,135 shares during the last quarter. Finally, MetLife Investment Advisors LLC increased its holdings in shares of Baxter International by 92.8% in the 1st quarter. MetLife Investment Advisors LLC now owns 299,090 shares of the medical instruments supplier’s stock valued at $19,453,000 after acquiring an additional 143,990 shares during the last quarter. Institutional investors own 83.35% of the company’s stock.

In related news, SVP Scott Pleau sold 10,686 shares of the business’s stock in a transaction that occurred on Tuesday, July 10th. The stock was sold at an average price of $75.00, for a total transaction of $801,450.00. Following the completion of the transaction, the senior vice president now owns 26,349 shares in the company, valued at approximately $1,976,175. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Carole J. Shapazian sold 5,400 shares of the business’s stock in a transaction that occurred on Wednesday, August 8th. The shares were sold at an average price of $72.97, for a total value of $394,038.00. Following the transaction, the director now 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 a total of 43,283 shares of company stock valued at $3,196,371 in the last 90 days. Insiders own 0.07% of the company’s stock.

BAX has been the subject of a number of research analyst reports. Stifel Nicolaus boosted their price target on Baxter International from $71.00 to $72.00 and gave the company a “hold” rating in a report on Monday, April 30th. Citigroup boosted their price target on Baxter International from $70.00 to $72.00 and gave the company a “neutral” rating in a report on Monday, April 30th. Zacks Investment Research downgraded Baxter International from a “buy” rating to a “hold” rating in a report on Wednesday, May 16th. Piper Jaffray Companies initiated coverage on Baxter International in a report on Thursday, May 17th. They issued an “overweight” rating and a $77.00 price target for the company. Finally, Bank of America boosted their price target on Baxter International from $73.00 to $83.00 and gave the company a “buy” rating in a report on Tuesday, May 22nd. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $76.00.

NYSE:BAX opened at $71.64 on Wednesday. Baxter International Inc has a 12-month low of $60.78 and a 12-month high of $76.51. The company has a market cap of $38.49 billion, a P/E ratio of 28.89, a P/E/G ratio of 1.95 and a beta of 0.77. The company has a quick ratio of 2.00, a current ratio of 2.62 and a debt-to-equity ratio of 0.39.

Baxter International (NYSE:BAX) last released its quarterly earnings data on Thursday, July 26th. The medical instruments supplier reported $0.77 earnings per share (EPS) for the quarter, beating the Zacks’ 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 business had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.83 billion. During the same quarter in the previous year, the firm posted $0.63 EPS. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. equities analysts expect that Baxter International Inc will post 2.98 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 1st. Investors of record on Friday, August 31st will be given a dividend of $0.19 per share. The ex-dividend date is Thursday, August 30th. This represents a $0.76 dividend on an annualized basis and a yield of 1.06%. Baxter International’s dividend payout ratio is currently 30.65%.

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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Institutional Ownership by Quarter for Baxter International (NYSE:BAX)

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