Voya Investment Management LLC increased its stake in shares of Baxter International Inc (NYSE:BAX) by 411.6% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 3,411,849 shares of the medical instruments supplier’s stock after purchasing an additional 2,745,012 shares during the period. Voya Investment Management LLC owned approximately 0.64% of Baxter International worth $251,931,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the stock. Migdal Insurance & Financial Holdings Ltd. boosted its position in Baxter International by 3,088.9% in 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 buying an additional 1,390 shares during the period. Baker Ellis Asset Management LLC purchased a new position in Baxter International in the 2nd quarter valued at approximately $111,000. Whittier Trust Co. of Nevada Inc. boosted its position in Baxter International by 84.4% in 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 buying an additional 800 shares during the period. Vigilant Capital Management LLC purchased a new position in Baxter International in the 2nd quarter valued at approximately $131,000. Finally, Ostrum Asset Management purchased a new position in Baxter International in the 1st quarter valued at approximately $121,000. 83.08% of the stock is owned by hedge funds and other institutional investors.
NYSE:BAX traded down $0.14 during midday trading on Friday, hitting $74.38. 6,334 shares of the company were exchanged, compared to its average volume of 2,631,288. Baxter International Inc has a fifty-two week low of $60.78 and a fifty-two week high of $76.51. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.62 and a quick ratio of 2.00. The firm has a market capitalization of $39.57 billion, a P/E ratio of 29.97, a P/E/G ratio of 2.00 and a beta of 0.74.
Baxter International (NYSE:BAX) last announced its quarterly earnings results on Thursday, July 26th. The medical instruments supplier reported $0.77 EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $2.83 billion. During the same period last year, the business earned $0.63 EPS. Baxter International’s revenue for the quarter was up 9.1% compared to the same quarter last year. 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. Investors of record on Friday, August 31st will be paid a dividend of $0.19 per share. The ex-dividend date is Thursday, August 30th. This represents a $0.76 annualized dividend and a yield of 1.02%. Baxter International’s dividend payout ratio is currently 30.65%.
BAX has been the topic of a number of analyst reports. Piper Jaffray Companies raised their price objective on shares of Baxter International from $77.00 to $83.00 and gave the company an “overweight” rating in a report on Friday, July 27th. Argus restated a “hold” rating on shares of Baxter International in a report on Tuesday. Royal Bank of Canada restated a “hold” rating and issued a $76.00 price objective on shares of Baxter International in a report on Friday, July 27th. Zacks Investment Research lowered shares of Baxter International from a “buy” rating to a “hold” rating in a report on Thursday, May 24th. Finally, Bank of America raised their price objective on shares of Baxter International from $73.00 to $83.00 and gave the company a “buy” rating in a report on Tuesday, May 22nd. Seven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $76.00.
In related news, Director Carole J. Shapazian sold 5,400 shares of Baxter International stock in a transaction 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 in the company, valued at approximately $1,112,646.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Scott Pleau sold 27,197 shares of Baxter International stock in a transaction on Monday, June 25th. The stock was sold at an average price of $73.57, for a total transaction of $2,000,883.29. Following the sale, the senior vice president now owns 47,363 shares in the company, valued at $3,484,495.91. The disclosure for this sale can be found here. Insiders have sold a total of 43,283 shares of company stock worth $3,196,371 over the last quarter. 0.05% of the stock is owned by company insiders.
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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