Sit Investment Associates Inc. cut its stake in Baxter International Inc (NYSE:BAX) by 21.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 134,900 shares of the medical instruments supplier’s stock after selling 35,875 shares during the period. Sit Investment Associates Inc.’s holdings in Baxter International were worth $10,969,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. C J Advisory Inc acquired a new position in Baxter International in the 1st quarter worth about $28,000. Gantzert Investment Co. LLC ADV bought a new stake in shares of Baxter International in the 4th quarter valued at about $25,000. Parisi Gray Wealth Management bought a new stake in shares of Baxter International during the 4th quarter valued at about $26,000. Sontag Advisory LLC bought a new stake in shares of Baxter International during the 4th quarter valued at about $30,000. Finally, Liberty Wealth Management LLC bought a new stake in shares of Baxter International during the 4th quarter valued at about $37,000. 84.03% of the stock is owned by hedge funds and other institutional investors.
BAX has been the topic of several research analyst reports. Barclays upped their target price on Baxter International from $72.00 to $75.00 and gave the company an “equal weight” rating in a research report on Monday, April 15th. Zacks Investment Research lowered Baxter International from a “buy” rating to a “hold” rating in a research report on Thursday, May 9th. Morgan Stanley upped their target price on Baxter International from $80.00 to $83.00 and gave the company an “overweight” rating in a research report on Tuesday, March 5th. Cowen set a $75.00 target price on Baxter International and gave the company a “hold” rating in a research report on Monday, April 22nd. Finally, JPMorgan Chase & Co. upped their target price on Baxter International from $80.00 to $88.00 and gave the company an “overweight” rating in a research report on Monday, May 13th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Baxter International currently has an average rating of “Buy” and an average price target of $78.33.
In other Baxter International news, SVP Scott Pleau sold 9,710 shares of the stock in a transaction that occurred on Friday, March 29th. The stock was sold at an average price of $80.00, for a total value of $776,800.00. Following the transaction, the senior vice president now owns 29,786 shares in the company, valued at $2,382,880. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Giuseppe Accogli sold 38,297 shares of the stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $76.78, for a total value of $2,940,443.66. Following the completion of the sale, the senior vice president now directly owns 70,001 shares of the company’s stock, valued at $5,374,676.78. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,054,687 shares of company stock worth $386,108,579. Corporate insiders own 0.70% of the company’s stock.
NYSE:BAX traded up $0.29 on Friday, hitting $78.50. The stock had a trading volume of 359,402 shares, compared to its average volume of 2,203,652. The firm has a market cap of $39.78 billion, a P/E ratio of 25.74, a PEG ratio of 1.84 and a beta of 0.94. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.30 and a current ratio of 1.83. Baxter International Inc has a 52 week low of $61.05 and a 52 week high of $82.25.
Baxter International (NYSE:BAX) last announced its quarterly earnings results on Thursday, April 25th. The medical instruments supplier reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.08. The business had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.61 billion. Baxter International had a return on equity of 20.04% and a net margin of 14.27%. The company’s quarterly revenue was down 1.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.70 earnings per share. On average, equities analysts forecast that Baxter International Inc will post 3.32 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 7th will be issued a $0.22 dividend. The ex-dividend date is Thursday, June 6th. This represents a $0.88 annualized dividend and a yield of 1.12%. This is a positive change from Baxter International’s previous quarterly dividend of $0.19. Baxter International’s dividend payout ratio is presently 28.85%.
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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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