Hartford Investment Management Co. lowered its holdings in Baxter International Inc (NYSE:BAX) by 1.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 58,326 shares of the medical instruments supplier’s stock after selling 623 shares during the quarter. Hartford Investment Management Co.’s holdings in Baxter International were worth $4,742,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of BAX. Norges Bank acquired a new position in Baxter International during the 4th quarter worth $549,458,000. Morgan Stanley lifted its holdings in Baxter International by 267.9% during the 3rd quarter. Morgan Stanley now owns 10,570,520 shares of the medical instruments supplier’s stock worth $814,880,000 after buying an additional 7,697,267 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in Baxter International by 6,487.4% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,555,596 shares of the medical instruments supplier’s stock worth $54,000 after buying an additional 3,501,620 shares during the last quarter. Standard Life Aberdeen plc lifted its holdings in Baxter International by 121.2% during the 3rd quarter. Standard Life Aberdeen plc now owns 5,743,738 shares of the medical instruments supplier’s stock worth $442,813,000 after buying an additional 3,146,868 shares during the last quarter. Finally, State of Tennessee Treasury Department lifted its holdings in Baxter International by 460.8% during the 4th quarter. State of Tennessee Treasury Department now owns 935,648 shares of the medical instruments supplier’s stock worth $61,584,000 after buying an additional 768,804 shares during the last quarter. Institutional investors own 86.12% of the company’s stock.
Shares of BAX traded up $0.27 on Wednesday, reaching $75.57. The stock had a trading volume of 1,656,910 shares, compared to its average volume of 3,013,375. The stock has a market cap of $38.76 billion, a P/E ratio of 24.78, a P/E/G ratio of 1.79 and a beta of 0.96. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.83 and a quick ratio of 1.30. Baxter International Inc has a twelve month low of $61.05 and a twelve month high of $82.25.
Baxter International (NYSE:BAX) last announced its earnings results on Thursday, April 25th. The medical instruments supplier reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.08. The firm had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.61 billion. Baxter International had a return on equity of 20.04% and a net margin of 14.27%. Baxter International’s quarterly revenue was down 1.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.70 EPS. Research analysts expect that Baxter International Inc will post 3.32 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 7th will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date is Thursday, June 6th. This is a positive change from Baxter International’s previous quarterly dividend of $0.19. Baxter International’s dividend payout ratio is currently 24.92%.
A number of analysts have issued reports on BAX shares. Zacks Investment Research raised Baxter International from a “hold” rating to a “buy” rating and set a $86.00 price target for the company in a report on Wednesday, April 24th. Barclays raised Baxter International from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $67.00 to $72.00 in a report on Friday, February 1st. Cowen set a $75.00 target price on Baxter International and gave the company a “hold” rating in a report on Monday, April 22nd. Wells Fargo & Co upped their price objective on Baxter International from $80.00 to $89.00 and gave the company an “outperform” rating in a research note on Wednesday, April 3rd. Finally, JPMorgan Chase & Co. upped their price objective on Baxter International from $80.00 to $88.00 and gave the company an “overweight” rating in a research note on Monday, May 13th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Baxter International has a consensus rating of “Buy” and an average target price of $78.63.
In other Baxter International news, Director Thomas T. Stallkamp sold 1,000 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $75.16, for a total transaction of $75,160.00. Following the transaction, the director now owns 6,780 shares of the company’s stock, valued at approximately $509,584.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Third Point Llc sold 5,000,000 shares of the stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $76.37, for a total value of $381,850,000.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,057,187 shares of company stock worth $386,297,619. Corporate insiders own 0.70% of the company’s stock.
Baxter International Profile
Baxter International Inc, through its subsidiaries, develops and provides a portfolio of healthcare products. The company operates through North and South America; Europe, Middle East and Africa; and Asia-Pacific segments. The company 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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