CX Institutional Takes Position in Baxter International Inc (NYSE:BAX)

CX Institutional bought a new stake in Baxter International Inc (NYSE:BAX) during the third quarter, HoldingsChannel.com reports. The institutional investor bought 984 shares of the medical instruments supplier’s stock, valued at approximately $86,000.

Several other large investors also recently added to or reduced their stakes in the company. Stonebridge Capital Advisors LLC increased its holdings in shares of Baxter International by 4.3% in the second quarter. Stonebridge Capital Advisors LLC now owns 2,886 shares of the medical instruments supplier’s stock valued at $236,000 after purchasing an additional 120 shares during the period. SeaCrest Wealth Management LLC increased its holdings in shares of Baxter International by 2.0% in the second quarter. SeaCrest Wealth Management LLC now owns 6,117 shares of the medical instruments supplier’s stock valued at $501,000 after purchasing an additional 122 shares during the period. Baker Ellis Asset Management LLC increased its holdings in shares of Baxter International by 8.3% in the second quarter. Baker Ellis Asset Management LLC now owns 1,625 shares of the medical instruments supplier’s stock valued at $133,000 after purchasing an additional 125 shares during the period. Boston Private Wealth LLC increased its holdings in shares of Baxter International by 1.8% in the second quarter. Boston Private Wealth LLC now owns 7,346 shares of the medical instruments supplier’s stock valued at $602,000 after purchasing an additional 129 shares during the period. Finally, Brookstone Capital Management increased its holdings in shares of Baxter International by 4.0% in the second quarter. Brookstone Capital Management now owns 3,422 shares of the medical instruments supplier’s stock valued at $280,000 after purchasing an additional 131 shares during the period. 83.44% of the stock is currently owned by institutional investors and hedge funds.

Shares of BAX stock opened at $88.03 on Friday. The business’s fifty day moving average price is $87.00 and its 200 day moving average price is $81.69. Baxter International Inc has a 1-year low of $61.05 and a 1-year high of $89.93. The firm has a market capitalization of $44.37 billion, a PE ratio of 26.90, a P/E/G ratio of 2.01 and a beta of 0.99. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.78 and a quick ratio of 2.10.

Baxter International (NYSE:BAX) last announced its quarterly earnings data on Thursday, July 25th. The medical instruments supplier reported $0.89 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.08. Baxter International had a return on equity of 21.21% and a net margin of 14.28%. The firm had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.80 billion. During the same quarter in the prior year, the company posted $0.77 earnings per share. Baxter International’s quarterly revenue was down .1% on a year-over-year basis. Equities research analysts expect that Baxter International Inc will post 3.37 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, August 30th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $0.88 dividend on an annualized basis and a yield of 1.00%. Baxter International’s payout ratio is 28.85%.

A number of research analysts recently weighed in on the company. BMO Capital Markets upped their price objective on Baxter International to $95.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. KeyCorp assumed coverage on Baxter International in a report on Tuesday, June 25th. They set a “sector weight” rating on the stock. Piper Jaffray Companies reaffirmed a “buy” rating on shares of Baxter International in a report on Tuesday, September 10th. Raymond James upped their price objective on Baxter International from $84.00 to $95.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Finally, Wells Fargo & Co set a $95.00 price objective on Baxter International and gave the stock a “buy” rating in a report on Friday, July 26th. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Baxter International has a consensus rating of “Buy” and an average target price of $85.67.

In other Baxter International news, Director James R. Gavin III sold 7,950 shares of the business’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $87.63, for a total transaction of $696,658.50. Following the sale, the director now directly owns 40,932 shares in the company, valued at $3,586,871.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Jacqueline Kunzler sold 5,934 shares of the business’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $88.12, for a total value of $522,904.08. Following the sale, the senior vice president now owns 3,089 shares in the company, valued at $272,202.68. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 14,064 shares of company stock worth $1,235,359. 0.70% of the stock is owned by company insiders.

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.

See Also: Return on Equity (ROE)

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Institutional Ownership by Quarter for Baxter International (NYSE:BAX)

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