Baxter International Inc (BAX) Position Reduced by Ferguson Wellman Capital Management Inc.

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Ferguson Wellman Capital Management Inc. decreased its position in Baxter International Inc (NYSE:BAX) by 20.4% in the fourth quarter, HoldingsChannel.com reports. The firm owned 16,618 shares of the medical instruments supplier’s stock after selling 4,256 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in Baxter International were worth $1,094,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. CX Institutional lifted its position in Baxter International by 705.2% in the 4th quarter. CX Institutional now owns 781 shares of the medical instruments supplier’s stock worth $51,000 after buying an additional 684 shares in the last quarter. Centaurus Financial Inc. purchased a new stake in Baxter International in the 2nd quarter worth approximately $117,000. Point72 Hong Kong Ltd purchased a new stake in Baxter International in the 3rd quarter worth approximately $122,000. First Financial Corp IN lifted its position in Baxter International by 11.9% in the 4th quarter. First Financial Corp IN now owns 1,875 shares of the medical instruments supplier’s stock worth $124,000 after buying an additional 200 shares in the last quarter. Finally, Bell Rock Capital LLC purchased a new stake in Baxter International in the 3rd quarter worth approximately $134,000. 83.27% of the stock is owned by hedge funds and other institutional investors.

Baxter International stock opened at $69.12 on Friday. The firm has a market cap of $36.32 billion, a PE ratio of 27.87, a price-to-earnings-growth ratio of 1.70 and a beta of 0.96. The company has a current ratio of 2.60, a quick ratio of 1.96 and a debt-to-equity ratio of 0.38. Baxter International Inc has a 1-year low of $61.05 and a 1-year high of $78.38.

Baxter International (NYSE:BAX) last released its quarterly earnings results on Wednesday, October 31st. The medical instruments supplier reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.06. The business had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.79 billion. Baxter International had a net margin of 10.90% and a return on equity of 17.67%. Baxter International’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.64 EPS. On average, research analysts expect that Baxter International Inc will post 3 EPS for the current year.

Baxter International announced that its Board of Directors has authorized a stock repurchase plan on Tuesday, November 13th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the medical instruments supplier to repurchase up to 6.1% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 2nd. Investors of record on Monday, December 3rd were issued a $0.19 dividend. The ex-dividend date of this dividend was Friday, November 30th. This represents a $0.76 annualized dividend and a yield of 1.10%. Baxter International’s dividend payout ratio (DPR) is presently 30.65%.

In other Baxter International news, Director John D. Forsyth sold 1,500 shares of the firm’s stock in a transaction on Thursday, December 13th. The shares were sold at an average price of $67.02, for a total value of $100,530.00. Following the sale, the director now directly owns 31,640 shares in the company, valued at approximately $2,120,512.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Carole J. Shapazian sold 11,749 shares of the firm’s stock in a transaction on Monday, December 3rd. The stock was sold at an average price of $68.48, for a total transaction of $804,571.52. Following the completion of the sale, the director now owns 15,237 shares in the company, valued at $1,043,429.76. The disclosure for this sale can be found here. Insiders sold a total of 8,013,249 shares of company stock worth $549,865,102 in the last quarter. Insiders own 0.07% of the company’s stock.

A number of research firms have issued reports on BAX. Zacks Investment Research downgraded shares of Baxter International from a “buy” rating to a “hold” rating in a research report on Thursday, January 3rd. Piper Jaffray Companies cut their target price on shares of Baxter International from $83.00 to $72.00 and set an “overweight” rating for the company in a research report on Thursday, November 1st. BMO Capital Markets cut their target price on shares of Baxter International from $86.00 to $76.00 and set an “outperform” rating for the company in a research report on Thursday, November 1st. Citigroup cut their target price on shares of Baxter International from $76.00 to $69.00 and set a “neutral” rating for the company in a research report on Tuesday, November 13th. Finally, ValuEngine upgraded shares of Baxter International from a “hold” rating to a “buy” rating in a report on Thursday, November 15th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have assigned a buy rating to the company. Baxter International presently has a consensus rating of “Buy” and an average price target of $76.00.

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Baxter International Company 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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