Commerzbank Aktiengesellschaft FI decreased its holdings in Baxter International Inc (NYSE:BAX) by 56.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,884 shares of the medical instruments supplier’s stock after selling 17,009 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in Baxter International were worth $951,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. FMR LLC raised its position in shares of Baxter International by 25.6% during the second quarter. FMR LLC now owns 28,637,027 shares of the medical instruments supplier’s stock valued at $2,114,558,000 after buying an additional 5,845,720 shares during the last quarter. Old Mutual Global Investors UK Ltd. increased its position in Baxter International by 13.0% in the first quarter. Old Mutual Global Investors UK Ltd. now owns 3,502,519 shares of the medical instruments supplier’s stock worth $227,803,000 after purchasing an additional 404,135 shares during the last quarter. Standard Life Aberdeen plc increased its position in Baxter International by 77.2% in the second quarter. Standard Life Aberdeen plc now owns 2,596,870 shares of the medical instruments supplier’s stock worth $191,753,000 after purchasing an additional 1,131,691 shares during the last quarter. Swiss National Bank increased its position in Baxter International by 6.1% in the second quarter. Swiss National Bank now owns 2,191,439 shares of the medical instruments supplier’s stock worth $161,816,000 after purchasing an additional 125,700 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its position in Baxter International by 13.0% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,795,744 shares of the medical instruments supplier’s stock worth $132,598,000 after purchasing an additional 206,256 shares during the last quarter. 83.08% of the stock is currently owned by institutional investors.
In other Baxter International news, SVP Scott Pleau sold 27,197 shares of the company’s stock in a transaction that occurred on Monday, June 25th. The stock was sold at an average price of $73.57, for a total value of $2,000,883.29. Following the sale, the senior vice president now owns 47,363 shares in the company, valued at approximately $3,484,495.91. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Carole J. Shapazian sold 5,400 shares of the stock in a transaction that occurred on Wednesday, August 8th. The shares were sold at an average price of $72.97, for a total value of $394,038.00. Following the transaction, the director now owns 15,248 shares in the company, valued at approximately $1,112,646.56. The disclosure for this sale can be found here. In the last 90 days, insiders sold 43,283 shares of company stock worth $3,196,371. Insiders own 0.05% of the company’s stock.
Baxter International (NYSE:BAX) last issued its quarterly earnings results on Thursday, July 26th. The medical instruments supplier reported $0.77 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.06. Baxter International had a net margin of 8.29% and a return on equity of 16.63%. The company had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.83 billion. During the same quarter in the prior year, the company earned $0.63 EPS. Baxter International’s quarterly revenue was up 9.1% on a year-over-year basis. research analysts anticipate that Baxter International Inc will post 2.98 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 1st. Shareholders of record on Friday, August 31st will be given a $0.19 dividend. The ex-dividend date of this dividend is Thursday, August 30th. This represents a $0.76 annualized dividend and a yield of 0.98%. Baxter International’s dividend payout ratio is presently 30.65%.
Several equities research analysts recently weighed in on BAX shares. Piper Jaffray Companies boosted their price target on shares of Baxter International from $77.00 to $83.00 and gave the stock an “overweight” rating in a research report on Friday, July 27th. Argus reaffirmed a “hold” rating on shares of Baxter International in a research note on Tuesday, September 4th. Royal Bank of Canada reaffirmed a “hold” rating and set a $76.00 price objective on shares of Baxter International in a research note on Friday, July 27th. Zacks Investment Research lowered shares of Baxter International from a “buy” rating to a “hold” rating in a research note on Thursday, May 24th. Finally, Bank of America lifted their price objective on shares of Baxter International from $73.00 to $83.00 and gave the stock a “buy” rating in a research note on Tuesday, May 22nd. Seven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $76.00.
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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