Commerce Bank raised its stake in shares of Baxter International Inc (NYSE:BAX) by 1.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 61,140 shares of the medical instruments supplier’s stock after purchasing an additional 889 shares during the period. Commerce Bank’s holdings in Baxter International were worth $4,964,000 at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of the stock. Pennsylvania Trust Co increased its position in Baxter International by 1.3% during the first quarter. Pennsylvania Trust Co now owns 8,512 shares of the medical instruments supplier’s stock worth $691,000 after purchasing an additional 110 shares during the last quarter. Huber Financial Advisors LLC increased its position in Baxter International by 3.7% during the fourth quarter. Huber Financial Advisors LLC now owns 3,179 shares of the medical instruments supplier’s stock worth $266,000 after purchasing an additional 114 shares during the last quarter. Hall Capital Management Co. Inc. increased its position in Baxter International by 1.4% during the fourth quarter. Hall Capital Management Co. Inc. now owns 8,490 shares of the medical instruments supplier’s stock worth $710,000 after purchasing an additional 115 shares during the last quarter. Trust Co. of Toledo NA OH grew its stake in Baxter International by 0.3% during the first quarter. Trust Co. of Toledo NA OH now owns 36,249 shares of the medical instruments supplier’s stock worth $2,943,000 after buying an additional 120 shares during the period. Finally, Brookstone Capital Management grew its stake in Baxter International by 3.9% during the fourth quarter. Brookstone Capital Management now owns 3,326 shares of the medical instruments supplier’s stock worth $278,000 after buying an additional 125 shares during the period. 83.95% of the stock is owned by hedge funds and other institutional investors.
BAX opened at $86.93 on Friday. The stock has a market capitalization of $43.90 billion, a PE ratio of 26.26, a P/E/G ratio of 2.39 and a beta of 0.84. The firm’s fifty day moving average price is $87.88 and its 200 day moving average price is $85.45. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.74 and a quick ratio of 2.19. Baxter International Inc has a 12-month low of $69.10 and a 12-month high of $95.19.
Baxter International (NYSE:BAX) last posted its quarterly earnings results on Thursday, April 30th. The medical instruments supplier reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.09. The firm had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.74 billion. Baxter International had a net margin of 8.85% and a return on equity of 22.70%. The firm’s quarterly revenue was up 6.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.76 earnings per share. On average, equities research analysts forecast that Baxter International Inc will post 3.29 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Friday, June 5th will be issued a dividend of $0.245 per share. This represents a $0.98 dividend on an annualized basis and a dividend yield of 1.13%. This is a boost from Baxter International’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Thursday, June 4th. Baxter International’s dividend payout ratio is 26.59%.
In other Baxter International news, SVP Jeanne K. Mason sold 47,146 shares of the stock in a transaction on Monday, April 27th. The shares were sold at an average price of $93.13, for a total transaction of $4,390,706.98. Following the sale, the senior vice president now directly owns 163,485 shares of the company’s stock, valued at $15,225,358.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Sean Martin bought 9,780 shares of the company’s stock in a transaction on Monday, March 30th. The shares were acquired at an average cost of $82.19 per share, for a total transaction of $803,818.20. Following the completion of the acquisition, the senior vice president now directly owns 39,504 shares of the company’s stock, valued at approximately $3,246,833.76. The disclosure for this purchase can be found here. 0.13% of the stock is currently owned by corporate insiders.
Several equities research analysts have issued reports on the stock. Goldman Sachs Group assumed coverage on shares of Baxter International in a research note on Wednesday, February 12th. They set a “buy” rating and a $104.00 price objective for the company. Barclays reiterated a “hold” rating and set a $84.00 price objective on shares of Baxter International in a research note on Tuesday, April 14th. UBS Group boosted their price objective on shares of Baxter International from $95.00 to $103.00 and gave the stock a “buy” rating in a research note on Friday, May 1st. Wells Fargo & Co boosted their price objective on shares of Baxter International from $92.00 to $104.00 and gave the stock an “overweight” rating in a research note on Monday, April 20th. Finally, SVB Leerink upped their target price on shares of Baxter International from $96.00 to $105.00 and gave the company an “outperform” rating in a research note on Friday, May 1st. Six research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Baxter International has a consensus rating of “Buy” and a consensus price target of $95.90.
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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