UMB Bank N A MO boosted its stake in shares of Baxter International Inc (NYSE:BAX) by 8.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,156 shares of the medical instruments supplier’s stock after buying an additional 2,229 shares during the quarter. UMB Bank N A MO’s holdings in Baxter International were worth $2,208,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of BAX. Martingale Asset Management L P grew its position in shares of Baxter International by 1.6% in the 3rd quarter. Martingale Asset Management L P now owns 722,269 shares of the medical instruments supplier’s stock worth $55,681,000 after buying an additional 11,546 shares during the last quarter. Standard Life Aberdeen plc grew its position 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 purchasing an additional 3,146,868 shares during the last quarter. Nordea Investment Management AB grew its position in Baxter International by 1.5% during the 3rd quarter. Nordea Investment Management AB now owns 394,248 shares of the medical instruments supplier’s stock worth $30,393,000 after purchasing an additional 5,828 shares during the last quarter. Morgan Stanley grew its position 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 purchasing an additional 7,697,267 shares during the last quarter. Finally, Great Lakes Advisors LLC purchased a new stake in Baxter International during the 3rd quarter worth approximately $203,000. 84.39% of the stock is currently owned by hedge funds and other institutional investors.
NYSE BAX traded up $0.07 on Friday, hitting $75.10. 1,372,864 shares of the company’s stock traded hands, compared to its average volume of 2,983,785. The company has a current ratio of 1.83, a quick ratio of 1.30 and a debt-to-equity ratio of 0.50. Baxter International Inc has a 1-year low of $61.05 and a 1-year high of $82.25. The stock has a market cap of $38.42 billion, a price-to-earnings ratio of 24.62, a PEG ratio of 1.77 and a beta of 0.96.
Baxter International (NYSE:BAX) last posted its earnings results on Thursday, April 25th. The medical instruments supplier reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.08. Baxter International had a net margin of 14.27% and a return on equity of 20.04%. The firm had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.61 billion. During the same period in the previous year, the business posted $0.70 EPS. The business’s revenue was down 1.7% compared to the same quarter last year. Analysts forecast that Baxter International Inc will post 3.32 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 7th will be issued a dividend of $0.22 per share. This is a positive change from Baxter International’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.17%. Baxter International’s dividend payout ratio is presently 24.92%.
In other news, Director Thomas T. Stallkamp sold 1,000 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $75.16, for a total transaction of $75,160.00. Following the completion of the sale, the director now owns 6,780 shares of the company’s stock, valued at $509,584.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Third Point Llc sold 5,000,000 shares of the company’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $76.37, for a total transaction of $381,850,000.00. The disclosure for this sale can be found here. Insiders have sold 5,057,187 shares of company stock valued at $386,297,619 in the last ninety days. Insiders own 0.70% of the company’s stock.
Several research firms have weighed in on BAX. Zacks Investment Research downgraded shares of Baxter International from a “buy” rating to a “hold” rating in a research report on Tuesday. Wells Fargo & Co boosted their target price on shares of Baxter International from $80.00 to $89.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 3rd. JPMorgan Chase & Co. boosted their target price on shares of Baxter International from $80.00 to $88.00 and gave the stock an “overweight” rating in a research report on Monday, May 13th. Cowen set a $75.00 target price on shares of Baxter International and gave the stock a “hold” rating in a research report on Monday, April 22nd. Finally, Morgan Stanley boosted their target price on shares of Baxter International from $80.00 to $83.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 5th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $78.33.
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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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