Tredje AP fonden lowered its stake in Baxter International Inc (NYSE:BAX) by 21.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 35,373 shares of the medical instruments supplier’s stock after selling 9,863 shares during the quarter. Tredje AP fonden’s holdings in Baxter International were worth $3,503,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of BAX. Pennsylvania Trust Co increased its position in shares of Baxter International by 1.3% in the 1st quarter. Pennsylvania Trust Co now owns 8,512 shares of the medical instruments supplier’s stock valued at $691,000 after buying an additional 110 shares in the last quarter. Huber Financial Advisors LLC increased its position in shares of Baxter International by 3.7% in the 4th quarter. Huber Financial Advisors LLC now owns 3,179 shares of the medical instruments supplier’s stock valued at $266,000 after buying an additional 114 shares in the last quarter. Hall Capital Management Co. Inc. increased its position in shares of Baxter International by 1.4% in the 4th quarter. Hall Capital Management Co. Inc. now owns 8,490 shares of the medical instruments supplier’s stock valued at $710,000 after buying an additional 115 shares in the last quarter. Trust Co. of Toledo NA OH increased its position in shares of Baxter International by 0.3% in the 1st quarter. Trust Co. of Toledo NA OH now owns 36,249 shares of the medical instruments supplier’s stock valued at $2,943,000 after buying an additional 120 shares in the last quarter. Finally, Brookstone Capital Management increased its position in shares of Baxter International by 3.9% in the 4th quarter. Brookstone Capital Management now owns 3,326 shares of the medical instruments supplier’s stock valued at $278,000 after buying an additional 125 shares in the last quarter. 83.95% of the stock is currently owned by institutional investors.
Shares of Baxter International stock traded up $0.37 during trading hours on Friday, reaching $86.93. 1,345,267 shares of the company’s stock were exchanged, compared to its average volume of 2,669,100. The company has a 50 day moving average of $87.88 and a two-hundred day moving average of $85.45. Baxter International Inc has a fifty-two week low of $69.10 and a fifty-two week high of $95.19. The company has a current ratio of 2.74, a quick ratio of 2.19 and a debt-to-equity ratio of 0.84. The stock has a market cap of $43.90 billion, a P/E ratio of 26.26, a P/E/G ratio of 2.39 and a beta of 0.84.
Baxter International (NYSE:BAX) last posted its quarterly earnings data on Thursday, April 30th. The medical instruments supplier reported $0.82 EPS for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.09. Baxter International had a net margin of 8.85% and a return on equity of 22.70%. The company had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.74 billion. During the same period in the prior year, the business posted $0.76 EPS. The company’s quarterly revenue was up 6.2% on a year-over-year basis. As a group, analysts expect that Baxter International Inc will post 3.29 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Friday, June 5th will be paid a $0.245 dividend. This is an increase from Baxter International’s previous quarterly dividend of $0.22. This represents a $0.98 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend is Thursday, June 4th. Baxter International’s dividend payout ratio (DPR) is 26.59%.
A number of analysts recently commented on BAX shares. Barclays restated a “hold” rating and issued a $84.00 price objective on shares of Baxter International in a research report on Tuesday, April 14th. Credit Suisse Group increased their target price on Baxter International from $97.00 to $99.00 and gave the stock an “outperform” rating in a report on Friday, May 1st. JPMorgan Chase & Co. increased their target price on Baxter International from $94.00 to $96.00 and gave the stock an “overweight” rating in a report on Tuesday, April 28th. Stifel Nicolaus upgraded Baxter International from a “hold” rating to a “buy” rating and increased their target price for the stock from $87.00 to $95.00 in a report on Thursday, March 19th. Finally, Wells Fargo & Co increased their target price on Baxter International from $92.00 to $104.00 and gave the stock an “overweight” rating in a report on Monday, April 20th. Six investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $95.90.
In related news, Director Albert P. L. Stroucken sold 4,320 shares of the firm’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $79.64, for a total value of $344,044.80. Following the completion of the sale, the director now directly owns 34,018 shares in the company, valued at approximately $2,709,193.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Sean Martin bought 9,780 shares of the business’s stock in a transaction that occurred on Monday, March 30th. The stock was purchased at an average price of $82.19 per share, with a total value of $803,818.20. Following the completion of the purchase, the senior vice president now directly owns 39,504 shares in the company, valued at approximately $3,246,833.76. The disclosure for this purchase can be found here. Company insiders own 0.13% 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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