Financial Counselors Inc. lowered its stake in shares of Baxter International Inc. (NYSE:BAX) by 0.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 135,135 shares of the medical instruments supplier’s stock after selling 944 shares during the period. Financial Counselors Inc.’s holdings in Baxter International were worth $7,008,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in the stock. Victory Capital Management Inc. raised its stake in Baxter International by 438.8% in the first quarter. Victory Capital Management Inc. now owns 1,968,222 shares of the medical instruments supplier’s stock valued at $102,072,000 after buying an additional 1,602,894 shares in the last quarter. CI Global Investments Inc. acquired a new stake in Baxter International during the first quarter valued at approximately $76,714,000. FMR LLC raised its stake in Baxter International by 83.1% in the first quarter. FMR LLC now owns 3,225,482 shares of the medical instruments supplier’s stock valued at $167,273,000 after buying an additional 1,463,443 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. raised its stake in Baxter International by 201.7% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 2,083,954 shares of the medical instruments supplier’s stock valued at $108,074,000 after buying an additional 1,393,321 shares in the last quarter. Finally, Harris Associates L P raised its stake in Baxter International by 7.8% in the first quarter. Harris Associates L P now owns 14,373,056 shares of the medical instruments supplier’s stock valued at $745,387,000 after buying an additional 1,039,729 shares in the last quarter. 84.21% of the stock is owned by institutional investors and hedge funds.
Baxter International Inc. (NYSE BAX) traded up 0.49% during midday trading on Friday, hitting $59.88. 1,594,211 shares of the stock were exchanged. Baxter International Inc. has a one year low of $43.13 and a one year high of $63.14. The firm has a market capitalization of $32.55 billion, a price-to-earnings ratio of 36.33 and a beta of 0.66. The company has a 50 day moving average price of $60.72 and a 200 day moving average price of $54.77.
Baxter International (NYSE:BAX) last released its quarterly earnings data on Wednesday, July 26th. The medical instruments supplier reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.06. Baxter International had a net margin of 8.85% and a return on equity of 15.09%. The business had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.59 billion. During the same quarter last year, the firm earned $0.46 EPS. Baxter International’s quarterly revenue was up .8% compared to the same quarter last year. Equities analysts anticipate that Baxter International Inc. will post $2.39 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 1st will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date is Wednesday, August 30th. Baxter International’s payout ratio is currently 38.79%.
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BAX has been the subject of several recent research reports. Stifel Nicolaus increased their target price on shares of Baxter International from $58.00 to $61.00 and gave the company a “hold” rating in a research note on Wednesday, May 31st. Zacks Investment Research raised shares of Baxter International from a “hold” rating to a “strong-buy” rating and set a $64.00 target price for the company in a research note on Monday, May 1st. Evercore ISI reissued an “outperform” rating and set a $60.00 target price (up from $57.00) on shares of Baxter International in a research note on Saturday, April 29th. Cowen and Company increased their target price on shares of Baxter International from $48.00 to $57.00 and gave the company a “market perform” rating in a research note on Monday, May 1st. Finally, Goldman Sachs Group, Inc. (The) restated a “conviction-buy” rating and set a $71.00 price target on shares of Baxter International in a report on Tuesday, May 16th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $65.33.
In other Baxter International news, SVP Brik V. Eyre sold 130,732 shares of Baxter International stock in a transaction that occurred on Monday, May 8th. The shares were sold at an average price of $55.69, for a total value of $7,280,465.08. Following the transaction, the senior vice president now owns 49,966 shares of the company’s stock, valued at $2,782,606.54. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Carole J. Shapazian sold 2,618 shares of Baxter International stock in a transaction that occurred on Tuesday, May 23rd. The shares were sold at an average price of $57.92, for a total transaction of $151,634.56. Following the completion of the transaction, the director now directly owns 9,848 shares in the company, valued at approximately $570,396.16. The disclosure for this sale can be found here. In the last ninety days, insiders sold 137,110 shares of company stock worth $7,642,246. Insiders own 0.05% of the company’s stock.
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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