OLD Point Trust & Financial Services N A trimmed its position in Baxter International Inc (NYSE:BAX) by 1.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 32,032 shares of the medical instruments supplier’s stock after selling 400 shares during the quarter. OLD Point Trust & Financial Services N A’s holdings in Baxter International were worth $2,623,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in the stock. Weaver Consulting Group acquired a new position in shares of Baxter International during the 1st quarter worth about $25,000. C J Advisory Inc bought a new position in shares of Baxter International during the 1st quarter valued at about $28,000. Ellis Investment Partners LLC bought a new position in shares of Baxter International during the 1st quarter valued at about $36,000. Liberty Wealth Management LLC bought a new position in shares of Baxter International during the 4th quarter valued at about $37,000. Finally, LFA Lugano Financial Advisors SA bought a new position in shares of Baxter International during the 1st quarter valued at about $48,000. Hedge funds and other institutional investors own 83.97% of the company’s stock.
Shares of NYSE:BAX traded up $0.61 during trading on Tuesday, hitting $83.30. 1,480,866 shares of the company were exchanged, compared to its average volume of 2,778,616. The stock has a market capitalization of $42.40 billion, a PE ratio of 27.31, a price-to-earnings-growth ratio of 1.96 and a beta of 0.99. Baxter International Inc has a fifty-two week low of $61.05 and a fifty-two week high of $83.93. The firm has a fifty day simple moving average of $80.80. 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 (NYSE:BAX) last posted its earnings results on Thursday, April 25th. The medical instruments supplier reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.08. The business had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.61 billion. Baxter International had a return on equity of 20.04% and a net margin of 14.27%. The firm’s revenue was down 1.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.70 EPS. As a group, sell-side analysts predict that Baxter International Inc will post 3.32 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, August 30th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date is Thursday, August 29th. Baxter International’s payout ratio is presently 28.85%.
Several equities analysts have recently weighed in on the company. Cowen set a $75.00 price objective on Baxter International and gave the company a “hold” rating in a report on Monday, April 22nd. Piper Jaffray Companies restated a “buy” rating on shares of Beigene in a research note on Thursday, June 20th. JPMorgan Chase & Co. boosted their target price on Vermilion Energy from C$42.00 to C$43.00 in a research note on Monday, May 13th. Barclays boosted 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. Finally, Wells Fargo & Co upgraded Centurylink from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $12.00 to $14.00 in a research note on Wednesday, June 26th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $79.20.
In related news, SVP Jacqueline Kunzler sold 593 shares of the business’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 transaction of $47,712.78. Following the transaction, the senior vice president now directly owns 9,023 shares of the company’s stock, valued at approximately $725,990.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Third Point Llc sold 5,000,000 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $76.37, for a total value of $381,850,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 5,002,913 shares of company stock worth $382,077,150 over the last three months. 0.70% of the stock is owned by insiders.
Baxter International 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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