Northern Trust Corp Has $633.58 Million Stake in Baxter International Inc (NYSE:BAX)

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Northern Trust Corp reduced its position in Baxter International Inc (NYSE:BAX) by 3.8% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 8,580,420 shares of the medical instruments supplier’s stock after selling 342,147 shares during the period. Northern Trust Corp owned 1.61% of Baxter International worth $633,579,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. FMR LLC increased its position in shares of Baxter International by 25.6% during the second quarter. FMR LLC now owns 28,637,027 shares of the medical instruments supplier’s stock valued at $2,114,558,000 after buying an additional 5,845,720 shares during the period. Voya Investment Management LLC increased its position in shares of Baxter International by 411.6% during the second quarter. Voya Investment Management LLC now owns 3,411,849 shares of the medical instruments supplier’s stock valued at $251,931,000 after buying an additional 2,745,012 shares during the period. Morgan Stanley increased its position in shares of Baxter International by 107.8% during the second quarter. Morgan Stanley now owns 2,873,253 shares of the medical instruments supplier’s stock valued at $212,161,000 after buying an additional 1,490,287 shares during the period. Standard Life Aberdeen plc increased its position in shares of Baxter International by 77.2% during the second quarter. Standard Life Aberdeen plc now owns 2,596,870 shares of the medical instruments supplier’s stock valued at $191,753,000 after buying an additional 1,131,691 shares during the period. Finally, PNC Financial Services Group Inc. increased its position in shares of Baxter International by 103.8% during the first quarter. PNC Financial Services Group Inc. now owns 1,652,618 shares of the medical instruments supplier’s stock valued at $107,487,000 after buying an additional 841,733 shares during the period. Institutional investors and hedge funds own 83.08% of the company’s stock.

Several brokerages have recently weighed in on BAX. Morgan Stanley upped their price target on Baxter International from $68.00 to $75.00 and gave the company an “underweight” rating in a research report on Thursday. Zacks Investment Research upgraded Baxter International from a “hold” rating to a “buy” rating and set a $87.00 price target on the stock in a research report on Tuesday, September 25th. Argus reiterated a “hold” rating on shares of Baxter International in a research report on Tuesday, September 4th. Citigroup upped their price target on Baxter International from $74.00 to $76.00 and gave the company a “neutral” rating in a research report on Tuesday, July 31st. Finally, Piper Jaffray Companies upped their price target on Baxter International from $77.00 to $83.00 and gave the company an “overweight” rating in a research report on Friday, July 27th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Baxter International presently has an average rating of “Buy” and an average target price of $77.36.

Shares of NYSE BAX traded up $1.08 during midday trading on Friday, hitting $71.25. 2,338,255 shares of the company’s stock were exchanged, compared to its average volume of 3,018,971. Baxter International Inc has a 12-month low of $62.29 and a 12-month high of $78.38. The company has a current ratio of 2.62, a quick ratio of 2.00 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $41.19 billion, a price-to-earnings ratio of 28.73, a PEG ratio of 2.08 and a beta of 0.77.

Baxter International (NYSE:BAX) last issued its quarterly earnings data on Thursday, July 26th. The medical instruments supplier reported $0.77 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.06. Baxter International had a return on equity of 16.63% and a net margin of 8.29%. The company had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.83 billion. During the same quarter in the previous year, the firm earned $0.63 earnings per share. Baxter International’s revenue was up 9.1% on a year-over-year basis. On average, analysts predict that Baxter International Inc will post 2.98 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, October 1st. Shareholders of record on Friday, August 31st were paid a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.07%. The ex-dividend date was Thursday, August 30th. Baxter International’s dividend payout ratio is currently 30.65%.

In other Baxter International news, Director Carole J. Shapazian sold 5,400 shares of the company’s stock in a transaction that occurred on Wednesday, August 8th. The stock was sold at an average price of $72.97, for a total value of $394,038.00. Following the completion of the sale, the director now owns 15,248 shares of the company’s stock, valued at $1,112,646.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Giuseppe Accogli sold 17,647 shares of the company’s stock in a transaction that occurred on Monday, September 17th. The stock was sold at an average price of $77.27, for a total value of $1,363,583.69. Following the completion of the sale, the senior vice president now directly owns 59,452 shares of the company’s stock, valued at approximately $4,593,856.04. The disclosure for this sale can be found here. 0.07% of the stock is owned by corporate insiders.

Baxter International Profile

Baxter International Inc provides a portfolio of healthcare products. The company operates through North and South America; Europe, Middle East and Africa; and Asia-Pacific segments. It 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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Institutional Ownership by Quarter for Baxter International (NYSE:BAX)

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