Raymond James Trust N.A. cut its holdings in Baxter International Inc. (NYSE:BAX – Get Rating) by 3.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 38,284 shares of the medical instruments supplier’s stock after selling 1,218 shares during the quarter. Raymond James Trust N.A.’s holdings in Baxter International were worth $2,459,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BAX. Banco de Sabadell S.A raised its stake in Baxter International by 16.7% in the fourth quarter. Banco de Sabadell S.A now owns 19,302 shares of the medical instruments supplier’s stock valued at $1,658,000 after buying an additional 2,759 shares during the last quarter. Altavista Wealth Management Inc. raised its stake in Baxter International by 26.3% in the fourth quarter. Altavista Wealth Management Inc. now owns 4,804 shares of the medical instruments supplier’s stock valued at $412,000 after buying an additional 1,000 shares during the last quarter. Alpha Paradigm Partners LLC purchased a new stake in Baxter International in the fourth quarter valued at about $700,000. Laurel Wealth Advisors Inc. purchased a new stake in Baxter International in the fourth quarter valued at about $484,000. Finally, Wellington Shields Capital Management LLC raised its stake in Baxter International by 61.3% in the fourth quarter. Wellington Shields Capital Management LLC now owns 13,150 shares of the medical instruments supplier’s stock valued at $1,129,000 after buying an additional 4,999 shares during the last quarter. 84.69% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of research analysts have recently weighed in on BAX shares. Deutsche Bank Aktiengesellschaft cut their price objective on Baxter International from $99.00 to $69.00 in a report on Friday, July 29th. Cowen cut their price objective on Baxter International from $95.00 to $70.00 in a report on Friday, July 29th. Citigroup cut their price objective on Baxter International from $82.00 to $74.00 in a report on Thursday, July 28th. Stifel Nicolaus cut their price objective on Baxter International from $85.00 to $75.00 in a report on Monday, July 18th. Finally, Morgan Stanley cut their price objective on Baxter International from $86.00 to $72.00 and set an “overweight” rating on the stock in a report on Friday, July 29th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $77.69.
Baxter International Stock Performance
Baxter International (NYSE:BAX – Get Rating) last issued its quarterly earnings results on Thursday, July 28th. The medical instruments supplier reported $0.87 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.87. The company had revenue of $3.75 billion for the quarter, compared to the consensus estimate of $3.88 billion. Baxter International had a return on equity of 21.75% and a net margin of 7.12%. Baxter International’s revenue for the quarter was up 20.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.80 earnings per share. Analysts expect that Baxter International Inc. will post 3.63 EPS for the current fiscal year.
Baxter International Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Friday, September 2nd will be given a dividend of $0.29 per share. The ex-dividend date is Thursday, September 1st. This represents a $1.16 dividend on an annualized basis and a yield of 2.09%. Baxter International’s dividend payout ratio is currently 58.00%.
About Baxter International
Baxter International Inc, through its subsidiaries, develops and provides a portfolio of healthcare products worldwide. The company offers peritoneal dialysis and hemodialysis, and additional dialysis therapies and services; intravenous therapies, infusion pumps, administration sets, and drug reconstitution devices; remixed and oncology drug platforms, inhaled anesthesia and critical care products and pharmacy compounding services; parenteral nutrition therapies and related products; biological products and medical devices used in surgical procedures for hemostasis, tissue sealing and adhesion prevention; and continuous renal replacement therapies and other organ support therapies focused in the intensive care unit.
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