Baxter International Inc (BAX) Shares Bought by Toronto Dominion Bank

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Toronto Dominion Bank lifted its holdings in shares of Baxter International Inc (NYSE:BAX) by 15.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 322,078 shares of the medical instruments supplier’s stock after buying an additional 43,315 shares during the period. Toronto Dominion Bank owned 0.06% of Baxter International worth $23,777,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the stock. Old Mutual Global Investors UK Ltd. raised its holdings in shares of Baxter International by 13.0% during the first quarter. Old Mutual Global Investors UK Ltd. now owns 3,502,519 shares of the medical instruments supplier’s stock valued at $227,803,000 after acquiring an additional 404,135 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its stake in Baxter International by 13.0% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,795,744 shares of the medical instruments supplier’s stock valued at $132,598,000 after buying an additional 206,256 shares during the period. PNC Financial Services Group Inc. increased its stake in Baxter International by 103.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,652,618 shares of the medical instruments supplier’s stock valued at $107,487,000 after buying an additional 841,733 shares during the period. California Public Employees Retirement System increased its stake in Baxter International by 3.1% in the 1st quarter. California Public Employees Retirement System now owns 1,516,440 shares of the medical instruments supplier’s stock valued at $98,629,000 after buying an additional 45,295 shares during the period. Finally, Calamos Advisors LLC increased its stake in Baxter International by 1.6% in the 2nd quarter. Calamos Advisors LLC now owns 1,346,341 shares of the medical instruments supplier’s stock valued at $99,414,000 after buying an additional 20,858 shares during the period. 83.08% of the stock is owned by institutional investors and hedge funds.

Shares of Baxter International stock opened at $74.59 on Friday. The stock has a market cap of $39.81 billion, a P/E ratio of 30.08, a PEG ratio of 2.01 and a beta of 0.74. The company has a quick ratio of 2.00, a current ratio of 2.62 and a debt-to-equity ratio of 0.39. Baxter International Inc has a 12-month low of $60.78 and a 12-month high of $76.51.

Baxter International (NYSE:BAX) last posted its quarterly earnings data on Thursday, July 26th. The medical instruments supplier reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.06. The firm had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.83 billion. Baxter International had a net margin of 8.29% and a return on equity of 16.63%. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.63 EPS. equities research analysts forecast that Baxter International Inc will post 2.98 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 1st. Stockholders of record on Friday, August 31st will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.02%. The ex-dividend date of this dividend is Thursday, August 30th. Baxter International’s dividend payout ratio (DPR) is presently 30.65%.

BAX has been the subject of several recent research reports. Zacks Investment Research raised shares of Baxter International from a “hold” rating to a “buy” rating and set a $81.00 target price for the company in a research report on Monday, May 28th. Bank of America upped their price objective on shares of Baxter International from $73.00 to $83.00 and gave the stock a “buy” rating in a report on Tuesday, May 22nd. Royal Bank of Canada reaffirmed a “hold” rating and set a $76.00 price objective on shares of Baxter International in a report on Friday, July 27th. Argus reaffirmed a “hold” rating on shares of Baxter International in a report on Tuesday, September 4th. Finally, Citigroup upped their price objective on shares of Baxter International from $74.00 to $76.00 and gave the stock a “neutral” rating in a report on Tuesday, July 31st. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $76.00.

In related news, SVP Scott Pleau sold 10,686 shares of Baxter International stock in a transaction that occurred on Tuesday, July 10th. The shares were sold at an average price of $75.00, for a total transaction of $801,450.00. Following the transaction, the senior vice president now owns 26,349 shares of the company’s stock, valued at approximately $1,976,175. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Carole J. Shapazian sold 5,400 shares of the firm’s stock in a transaction that occurred on Wednesday, August 8th. The stock was sold at an average price of $72.97, for a total transaction of $394,038.00. Following the sale, the director now owns 15,248 shares in the company, valued at $1,112,646.56. The disclosure for this sale can be found here. Insiders sold a total of 43,283 shares of company stock worth $3,196,371 in the last ninety days. Insiders own 0.05% of the company’s stock.

About Baxter International

Baxter International Inc provides a portfolio of healthcare products. The company operates through North and South America; Europe, Middle East and Africa; and Asia-Pacific segments. It 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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Institutional Ownership by Quarter for Baxter International (NYSE:BAX)

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