LVM Capital Management Ltd. MI decreased its stake in shares of Baxter International Inc (NYSE:BAX) by 5.3% during the second quarter, HoldingsChannel.com reports. The fund owned 5,153 shares of the medical instruments supplier’s stock after selling 289 shares during the period. LVM Capital Management Ltd. MI’s holdings in Baxter International were worth $422,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of BAX. Weaver Consulting Group bought a new stake in Baxter International during the 1st quarter valued at approximately $25,000. C J Advisory Inc bought a new stake in Baxter International during the 1st quarter valued at approximately $28,000. Ellis Investment Partners LLC bought a new stake in Baxter International during the 1st quarter valued at approximately $36,000. Liberty Wealth Management LLC bought a new stake in Baxter International during the 4th quarter valued at approximately $37,000. Finally, LFA Lugano Financial Advisors SA bought a new stake in Baxter International during the 1st quarter valued at approximately $48,000. 83.97% of the stock is currently owned by institutional investors and hedge funds.
Shares of BAX stock traded up $0.61 during mid-day trading on Tuesday, reaching $83.30. The stock had a trading volume of 1,480,866 shares, compared to its average volume of 2,778,616. The company has a 50 day moving average of $80.62. The company has a current ratio of 1.83, a quick ratio of 1.30 and a debt-to-equity ratio of 0.50. Baxter International Inc has a one year low of $61.05 and a one year high of $83.93. The company has a market capitalization of $42.40 billion, a price-to-earnings ratio of 27.31, a PEG ratio of 1.96 and a beta of 0.99.
Baxter International (NYSE:BAX) last announced its quarterly earnings data on Thursday, April 25th. The medical instruments supplier reported $0.76 EPS for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.08. Baxter International had a return on equity of 20.04% and a net margin of 14.27%. The company had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.61 billion. During the same quarter last year, the company earned $0.70 EPS. The company’s quarterly revenue was down 1.7% on a year-over-year basis. As a group, sell-side analysts expect that Baxter International Inc will post 3.32 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders 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 dividend payout ratio is currently 28.85%.
Several brokerages recently weighed in on BAX. Barclays increased their target price on Zimmer Biomet from $113.00 to $117.00 and gave the company an “underweight” rating in a research note on Monday, April 15th. JPMorgan Chase & Co. increased their target price on Vermilion Energy from C$42.00 to C$43.00 in a research note on Monday, May 13th. KeyCorp began coverage on Baxter International in a research note on Tuesday, June 25th. They set a “sector weight” rating for the company. Wells Fargo & Co upgraded Centurylink from a “market perform” rating to an “outperform” rating and increased their target price for the company from $12.00 to $14.00 in a research note on Wednesday, June 26th. Finally, Cowen set a $75.00 target price on Baxter International and gave the company a “hold” rating in a research note on Monday, April 22nd. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Baxter International currently has a consensus rating of “Buy” and a consensus price target of $79.20.
In related news, Director John D. Forsyth sold 1,320 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $78.21, for a total transaction of $103,237.20. Following the completion of the transaction, the director now owns 32,779 shares in the company, valued at approximately $2,563,645.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Jacqueline Kunzler sold 593 shares of the firm’s stock in a transaction that occurred on Wednesday, June 19th. The stock was sold at an average price of $80.46, for a total value of $47,712.78. Following the transaction, the senior vice president now owns 9,023 shares of the company’s stock, valued at approximately $725,990.58. The disclosure for this sale can be found here. Insiders sold a total of 5,002,913 shares of company stock valued at $382,077,150 in the last quarter. Corporate insiders own 0.70% of the company’s stock.
Baxter International Company Profile
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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