Financial Counselors Inc. decreased its stake in Baxter International Inc. (NYSE:BAX) by 0.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm 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 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of BAX. Harris Associates L P boosted 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 during the last quarter. Veritas Asset Management LLP boosted its stake in Baxter International by 3.5% in the first quarter. Veritas Asset Management LLP now owns 9,951,759 shares of the medical instruments supplier’s stock valued at $516,098,000 after buying an additional 334,700 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in Baxter International by 1.0% in the first quarter. Ameriprise Financial Inc. now owns 8,552,232 shares of the medical instruments supplier’s stock valued at $443,539,000 after buying an additional 88,159 shares during the last quarter. FMR LLC boosted 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 during the last quarter. Finally, Legal & General Group Plc boosted its stake in Baxter International by 7.7% in the first quarter. Legal & General Group Plc now owns 2,979,527 shares of the medical instruments supplier’s stock valued at $154,518,000 after buying an additional 213,357 shares during the last quarter. Hedge funds and other institutional investors own 83.88% of the company’s stock.
Baxter International Inc. (NYSE BAX) opened at 60.63 on Wednesday. The firm has a market cap of $32.96 billion, a price-to-earnings ratio of 17.94 and a beta of 0.66. The stock has a 50 day moving average price of $58.81 and a 200-day moving average price of $52.10. Baxter International Inc. has a 12-month low of $43.13 and a 12-month high of $61.52.
Baxter International (NYSE:BAX) last announced its quarterly earnings results on Wednesday, April 26th. The medical instruments supplier reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.07. The business had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.43 billion. Baxter International had a return on equity of 14.03% and a net margin of 18.09%. The business’s revenue was up 4.2% on a year-over-year basis. During the same quarter last year, the business posted $0.36 EPS. Equities analysts forecast that Baxter International Inc. will post $2.27 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, July 3rd. Investors of record on Friday, June 2nd were issued a $0.16 dividend. This is an increase from Baxter International’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Wednesday, May 31st. This represents a $0.64 annualized dividend and a dividend yield of 1.06%. Baxter International’s dividend payout ratio (DPR) is 19.05%.
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Several equities research analysts recently weighed in on BAX shares. Morgan Stanley boosted their target price on Baxter International from $48.00 to $52.00 and gave the stock an “underweight” rating in a research note on Friday, April 28th. BMO Capital Markets upgraded Baxter International from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $55.00 to $70.00 in a research note on Tuesday. They noted that the move was a valuation call. Goldman Sachs Group, Inc. (The) reiterated a “conviction-buy” rating and issued a $71.00 price objective on shares of Baxter International in a research note on Tuesday, May 16th. Cantor Fitzgerald started coverage on Baxter International in a research note on Thursday, June 29th. They issued an “overweight” rating and a $70.00 price objective for the company. Finally, Zacks Investment Research cut Baxter International from a “hold” rating to a “sell” rating in a research note on Wednesday, April 5th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the stock. Baxter International presently has a consensus rating of “Buy” and an average price target of $62.33.
In related news, Director Carole J. Shapazian sold 2,618 shares of the firm’s stock in a transaction that occurred on Tuesday, May 23rd. The stock was sold at an average price of $57.92, for a total value of $151,634.56. Following the sale, the director now owns 9,848 shares of the company’s stock, valued at approximately $570,396.16. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Brik V. Eyre sold 130,732 shares of the firm’s stock in a transaction that occurred on Monday, May 8th. The stock was sold at an average price of $55.69, for a total value of $7,280,465.08. Following the completion of the sale, the senior vice president now directly owns 49,966 shares in the company, valued at approximately $2,782,606.54. The disclosure for this sale can be found here. In the last three months, insiders sold 137,110 shares of company stock worth $7,642,246. Company insiders own 0.05% of the company’s stock.
Baxter International Company 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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