Progressive Investment Management Corp grew its holdings in shares of Baxter International Inc (NYSE:BAX) by 1.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 80,097 shares of the medical instruments supplier’s stock after buying an additional 1,489 shares during the period. Baxter International accounts for 3.5% of Progressive Investment Management Corp’s portfolio, making the stock its 7th biggest position. Progressive Investment Management Corp’s holdings in Baxter International were worth $5,177,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. Parametric Portfolio Associates LLC lifted its holdings in shares of Baxter International by 71.1% during the second quarter. Parametric Portfolio Associates LLC now owns 1,632,846 shares of the medical instruments supplier’s stock valued at $98,852,000 after purchasing an additional 678,429 shares in the last quarter. Canada Pension Plan Investment Board lifted its holdings in Baxter International by 35.8% in the third quarter. Canada Pension Plan Investment Board now owns 1,413,054 shares of the medical instruments supplier’s stock valued at $88,669,000 after acquiring an additional 372,500 shares during the period. New York State Common Retirement Fund lifted its holdings in Baxter International by 19.0% in the second quarter. New York State Common Retirement Fund now owns 1,830,523 shares of the medical instruments supplier’s stock valued at $110,820,000 after acquiring an additional 291,752 shares during the period. Segall Bryant & Hamill LLC lifted its holdings in Baxter International by 209.0% in the third quarter. Segall Bryant & Hamill LLC now owns 412,054 shares of the medical instruments supplier’s stock valued at $25,856,000 after acquiring an additional 278,685 shares during the period. Finally, Nordea Investment Management AB lifted its holdings in Baxter International by 619.2% in the third quarter. Nordea Investment Management AB now owns 188,842 shares of the medical instruments supplier’s stock valued at $11,850,000 after acquiring an additional 162,584 shares during the period. 83.75% of the stock is currently owned by hedge funds and other institutional investors.
Baxter International Inc (BAX) opened at $69.60 on Wednesday. The stock has a market capitalization of $37,920.00, a PE ratio of 37.62, a PEG ratio of 2.10 and a beta of 0.69. The company has a quick ratio of 2.22, a current ratio of 2.80 and a debt-to-equity ratio of 0.37. Baxter International Inc has a fifty-two week low of $45.47 and a fifty-two week high of $70.25.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Friday, December 1st were paid a dividend of $0.16 per share. The ex-dividend date was Thursday, November 30th. This represents a $0.64 annualized dividend and a yield of 0.92%. Baxter International’s dividend payout ratio (DPR) is currently 34.59%.
In other news, Director Third Point Llc sold 5,000,000 shares of the company’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $64.23, for a total value of $321,150,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Jeanne K. Mason sold 33,350 shares of the company’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $65.25, for a total value of $2,176,087.50. Following the completion of the sale, the senior vice president now owns 124,609 shares of the company’s stock, valued at $8,130,737.25. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,061,991 shares of company stock valued at $325,245,035. 0.05% of the stock is owned by company insiders.
Several analysts recently issued reports on BAX shares. Zacks Investment Research upgraded Baxter International from a “hold” rating to a “buy” rating and set a $72.00 target price for the company in a research report on Tuesday, October 24th. Royal Bank of Canada restated a “hold” rating and set a $66.00 price target on shares of Baxter International in a report on Wednesday, November 22nd. Raymond James Financial upgraded Baxter International from a “market perform” rating to an “outperform” rating and set a $73.00 price target for the company in a report on Wednesday, January 3rd. BMO Capital Markets reaffirmed a “buy” rating and issued a $70.00 price objective on shares of Baxter International in a research note on Friday, October 13th. Finally, Bank of America reaffirmed a “hold” rating on shares of Baxter International in a research note on Wednesday, November 22nd. Seven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $68.64.
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Baxter International Profile
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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