Beese Fulmer Investment Management Inc. increased its holdings in shares of Baxter International Inc (NYSE:BAX) by 0.3% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 66,471 shares of the medical instruments supplier’s stock after purchasing an additional 193 shares during the quarter. Beese Fulmer Investment Management Inc.’s holdings in Baxter International were worth $5,444,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of BAX. Dimensional Fund Advisors LP increased its position in Baxter International by 1.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,205,779 shares of the medical instruments supplier’s stock worth $79,362,000 after purchasing an additional 17,633 shares during the last quarter. Geode Capital Management LLC increased its position in Baxter International by 4.8% during the fourth quarter. Geode Capital Management LLC now owns 6,444,204 shares of the medical instruments supplier’s stock worth $423,409,000 after purchasing an additional 297,006 shares during the last quarter. Gotham Asset Management LLC increased its position in Baxter International by 23.5% during the fourth quarter. Gotham Asset Management LLC now owns 82,204 shares of the medical instruments supplier’s stock worth $5,411,000 after purchasing an additional 15,639 shares during the last quarter. Voloridge Investment Management LLC acquired a new position in Baxter International during the fourth quarter worth approximately $540,000. Finally, National Pension Service increased its position in Baxter International by 5.7% during the fourth quarter. National Pension Service now owns 521,176 shares of the medical instruments supplier’s stock worth $37,754,000 after purchasing an additional 28,177 shares during the last quarter. 83.97% of the stock is owned by institutional investors and hedge funds.
Several equities analysts recently commented on the stock. KeyCorp assumed coverage on shares of Baxter International in a research report on Tuesday, June 25th. They set a “sector weight” rating for the company. Barclays upped their price target on shares of Zimmer Biomet from $113.00 to $117.00 and gave the stock an “underweight” rating in a research report on Monday, April 15th. Piper Jaffray Companies reaffirmed a “buy” rating on shares of Beigene in a research report on Thursday, June 20th. JPMorgan Chase & Co. increased their price objective on shares of Vermilion Energy from C$42.00 to C$43.00 in a research report on Monday, May 13th. Finally, Wells Fargo & Co raised shares of Centurylink from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $12.00 to $14.00 in a research report on Wednesday, June 26th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $79.20.
In related news, Director Thomas T. Stallkamp sold 1,000 shares of Baxter International stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $76.20, for a total value of $76,200.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Jacqueline Kunzler sold 593 shares of Baxter International stock in a transaction dated Wednesday, June 19th. The shares were sold at an average price of $80.46, for a total transaction of $47,712.78. Following the completion of the sale, the senior vice president now owns 9,023 shares in the company, valued at $725,990.58. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,002,913 shares of company stock worth $382,077,150. Insiders own 0.70% of the company’s stock.
NYSE BAX traded up $0.61 during trading hours on Tuesday, reaching $83.30. 1,480,866 shares of the company traded hands, compared to its average volume of 2,778,616. Baxter International Inc has a 12 month low of $61.05 and a 12 month high of $83.93. The company has a quick ratio of 1.30, a current ratio of 1.83 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $42.40 billion, a PE ratio of 27.31, a PEG ratio of 1.96 and a beta of 0.99. The stock has a 50 day simple moving average of $80.80.
Baxter International (NYSE:BAX) last posted its quarterly earnings data on Thursday, April 25th. The medical instruments supplier reported $0.76 EPS for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.08. Baxter International had a net margin of 14.27% and a return on equity of 20.04%. The firm had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.61 billion. During the same period in the prior year, the firm posted $0.70 EPS. The firm’s revenue was down 1.7% compared to the same quarter last year. Analysts forecast that Baxter International Inc will post 3.32 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, August 30th will be given a $0.22 dividend. The ex-dividend date of this dividend is Thursday, August 29th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.06%. Baxter International’s payout ratio is currently 28.85%.
About Baxter International
Baxter International Inc, through its subsidiaries, develops and provides a portfolio of healthcare products. The company operates through North and South America; Europe, Middle East and Africa; and Asia-Pacific segments. The company 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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