State of Wisconsin Investment Board boosted its position in shares of Baxter International Inc (NYSE:BAX) by 0.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 430,086 shares of the medical instruments supplier’s stock after purchasing an additional 1,696 shares during the period. State of Wisconsin Investment Board owned approximately 0.08% of Baxter International worth $27,801,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of BAX. Family Capital Trust Co purchased a new stake in shares of Baxter International in the 4th quarter valued at approximately $103,000. Community Bank N.A. raised its stake in shares of Baxter International by 152.7% in the 4th quarter. Community Bank N.A. now owns 1,655 shares of the medical instruments supplier’s stock valued at $107,000 after acquiring an additional 1,000 shares during the period. Grove Bank & Trust raised its stake in shares of Baxter International by 526.0% in the 3rd quarter. Grove Bank & Trust now owns 2,285 shares of the medical instruments supplier’s stock valued at $143,000 after acquiring an additional 1,920 shares during the period. Cerebellum GP LLC purchased a new stake in shares of Baxter International in the 4th quarter valued at approximately $173,000. Finally, Steward Partners Investment Advisory LLC acquired a new position in shares of Baxter International in the third quarter valued at approximately $175,000. 85.56% of the stock is currently owned by institutional investors.
A number of research analysts recently weighed in on BAX shares. Deutsche Bank upgraded shares of Baxter International from a “hold” rating to a “buy” rating and set a $80.00 price objective for the company in a report on Tuesday, February 20th. Bank of America upgraded shares of Baxter International from a “neutral” rating to a “buy” rating in a report on Tuesday, January 2nd. Zacks Investment Research cut shares of Baxter International from a “buy” rating to a “hold” rating in a report on Tuesday, December 26th. Royal Bank of Canada reiterated a “hold” rating and set a $66.00 price target on shares of Baxter International in a report on Wednesday, November 22nd. Finally, ValuEngine cut shares of Baxter International from a “buy” rating to a “hold” rating in a report on Wednesday, March 7th. Eight research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $71.00.
Shares of Baxter International Inc (BAX) traded down $0.81 during trading on Wednesday, reaching $67.28. 2,462,927 shares of the company’s stock were exchanged, compared to its average volume of 3,490,000. The stock has a market cap of $36,340.00, a P/E ratio of 28.27, a P/E/G ratio of 1.97 and a beta of 0.81. The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.05 and a current ratio of 2.57. Baxter International Inc has a 52 week low of $51.03 and a 52 week high of $72.58.
Baxter International (NYSE:BAX) last announced its quarterly earnings data on Thursday, February 1st. The medical instruments supplier reported $0.64 EPS for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.05. The company had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.77 billion. Baxter International had a net margin of 6.79% and a return on equity of 15.11%. Baxter International’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.57 EPS. equities analysts anticipate that Baxter International Inc will post 2.78 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Friday, March 2nd will be given a dividend of $0.16 per share. The ex-dividend date is Thursday, March 1st. This represents a $0.64 dividend on an annualized basis and a yield of 0.95%. Baxter International’s payout ratio is currently 26.89%.
Baxter International announced that its Board of Directors has approved a share buyback plan on Tuesday, February 20th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the medical instruments supplier to repurchase shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its shares are undervalued.
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About Baxter International
Baxter International Inc, through its subsidiaries, provides renal and hospital products. The Company operates through two segments: Hospital Products and Renal. Its Hospital Products business manufactures sterile intravenous (IV) solutions and administration sets, premixed drugs and drug-reconstitution systems, pre-filled vials and syringes for injectable drugs, IV nutrition products, parenteral nutrition therapies, infusion pumps, inhalation anesthetics and biosurgery products.
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