Riverhead Capital Management LLC lessened its holdings in Baxter International Inc (NYSE:BAX) by 43.0% in the 2nd quarter, HoldingsChannel reports. The fund owned 13,242 shares of the medical instruments supplier’s stock after selling 9,995 shares during the period. Riverhead Capital Management LLC’s holdings in Baxter International were worth $978,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Swiss National Bank boosted its holdings in Baxter International by 6.1% in the second quarter. Swiss National Bank now owns 2,191,439 shares of the medical instruments supplier’s stock worth $161,816,000 after acquiring an additional 125,700 shares in the last quarter. State of Tennessee Treasury Department lifted its holdings in shares of 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 worth $28,439,000 after purchasing an additional 20,992 shares during the period. Montag A & Associates Inc. acquired a new stake in shares of Baxter International during the second quarter worth about $816,000. Sei Investments Co. lifted its holdings in shares of Baxter International by 77.8% during the second quarter. Sei Investments Co. now owns 429,868 shares of the medical instruments supplier’s stock worth $31,742,000 after purchasing an additional 188,105 shares during the period. Finally, Mn Services Vermogensbeheer B.V. lifted its holdings in shares of 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 worth $5,015,000 after purchasing an additional 1,000 shares during the period. 83.08% of the stock is owned by institutional investors and hedge funds.
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 stock was 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 directly owns 47,363 shares of the company’s stock, valued at $3,484,495.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 completion of the transaction, the director now directly owns 15,248 shares of the company’s stock, valued at $1,112,646.56. The disclosure for this sale can be found here. Insiders sold 43,283 shares of company stock valued at $3,196,371 over the last three months. 0.05% of the stock is currently owned by corporate insiders.
A number of research firms recently commented on BAX. Zacks Investment Research downgraded Baxter International from a “buy” rating to a “hold” rating in a report on Thursday, May 31st. JPMorgan Chase & Co. lifted their target price on Baxter International from $80.00 to $85.00 and gave the stock an “overweight” rating in a report on Friday, July 27th. Citigroup lifted their target price on Baxter International from $74.00 to $76.00 and gave the stock a “neutral” rating in a report on Tuesday, July 31st. Bank of America lifted their target price on Baxter International from $73.00 to $83.00 and gave the stock a “buy” rating in a report on Tuesday, May 22nd. Finally, Piper Jaffray Companies began coverage on Baxter International in a report on Thursday, May 17th. They set an “overweight” rating and a $77.00 target price for the company. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Baxter International presently has an average rating of “Buy” and a consensus target price of $76.00.
Shares of NYSE:BAX opened at $74.07 on Thursday. Baxter International Inc has a 12-month low of $60.78 and a 12-month high of $76.51. The company has a market capitalization of $39.73 billion, a price-to-earnings ratio of 27.04, a P/E/G ratio of 2.01 and a beta of 0.74. 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 announced its quarterly earnings results 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 company had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.83 billion. During the same period in the previous year, the company posted $0.63 earnings per share. Baxter International’s revenue for the quarter was up 9.1% on a year-over-year basis. sell-side analysts anticipate 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. Shareholders of record on Friday, August 31st will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date is Thursday, August 30th. Baxter International’s payout ratio is presently 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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