Wealth Enhancement Advisory Services LLC purchased a new position in shares of Baxter International Inc (NYSE:BAX) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 21,947 shares of the medical instruments supplier’s stock, valued at approximately $1,887,000.
Other large investors have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its position in Baxter International by 1.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,205,779 shares of the medical instruments supplier’s stock valued at $79,362,000 after purchasing an additional 17,633 shares in the last quarter. Geode Capital Management LLC grew its position in Baxter International by 4.8% during the fourth quarter. Geode Capital Management LLC now owns 6,444,204 shares of the medical instruments supplier’s stock valued at $423,409,000 after purchasing an additional 297,006 shares in the last quarter. Raymond James Trust N.A. grew its position in Baxter International by 7.8% during the first quarter. Raymond James Trust N.A. now owns 15,431 shares of the medical instruments supplier’s stock valued at $1,255,000 after purchasing an additional 1,114 shares in the last quarter. TIAA FSB grew its position in Baxter International by 18.9% during the first quarter. TIAA FSB now owns 18,766 shares of the medical instruments supplier’s stock valued at $1,526,000 after purchasing an additional 2,980 shares in the last quarter. Finally, BKS Advisors LLC bought a new stake in Baxter International in the first quarter worth approximately $207,000. Institutional investors own 83.96% of the company’s stock.
Shares of Baxter International stock traded up $0.04 on Thursday, reaching $85.88. The stock had a trading volume of 96,559 shares, compared to its average volume of 2,377,217. The business has a 50-day moving average price of $83.41. The company has a current ratio of 2.78, a quick ratio of 2.10 and a debt-to-equity ratio of 0.72. Baxter International Inc has a fifty-two week low of $61.05 and a fifty-two week high of $88.28. The company has a market capitalization of $43.70 billion, a PE ratio of 28.16, a P/E/G ratio of 1.98 and a beta of 1.00.
Baxter International (NYSE:BAX) last issued its quarterly earnings data on Thursday, July 25th. The medical instruments supplier reported $0.89 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.08. Baxter International had a net margin of 14.28% and a return on equity of 21.21%. The business had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.80 billion. During the same period in the previous year, the company earned $0.77 earnings per share. Baxter International’s revenue for the quarter was down .1% on a year-over-year basis. On average, sell-side analysts forecast that Baxter International Inc will post 3.37 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, August 30th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date of this dividend is Thursday, August 29th. Baxter International’s payout ratio is 28.85%.
In other news, Director John D. Forsyth sold 1,320 shares of the business’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $78.21, for a total value of $103,237.20. Following the completion of the sale, the director now directly owns 32,779 shares in the company, valued at $2,563,645.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Jacqueline Kunzler sold 593 shares of the business’s stock in a transaction on Wednesday, June 19th. The stock was sold at an average price of $80.46, for a total transaction of $47,712.78. Following the completion of the sale, the senior vice president now owns 9,023 shares of the company’s stock, valued at $725,990.58. The disclosure for this sale can be found here. 0.70% of the stock is currently owned by insiders.
BAX has been the subject of several recent research reports. Royal Bank of Canada set a $87.00 target price on shares of Baxter International and gave the stock a “hold” rating in a research report on Friday, July 26th. Zacks Investment Research raised shares of Baxter International from a “hold” rating to a “buy” rating and set a $86.00 target price for the company in a research report on Friday, June 21st. 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. Raymond James boosted their target price on shares of Baxter International from $84.00 to $95.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Finally, 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. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $85.27.
About Baxter International
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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