Heritage Trust Co Sells 339 Shares of Baxter International Inc (NYSE:BAX)

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Heritage Trust Co reduced its stake in Baxter International Inc (NYSE:BAX) by 8.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,641 shares of the medical instruments supplier’s stock after selling 339 shares during the period. Heritage Trust Co’s holdings in Baxter International were worth $296,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Assenagon Asset Management S.A. lifted its position in shares of Baxter International by 87.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 9,578 shares of the medical instruments supplier’s stock worth $801,000 after purchasing an additional 4,478 shares during the period. Orser Capital Management LLC lifted its position in shares of Baxter International by 4.3% in the 4th quarter. Orser Capital Management LLC now owns 33,260 shares of the medical instruments supplier’s stock worth $2,775,000 after purchasing an additional 1,370 shares during the period. Wealthfront Advisers LLC lifted its position in Baxter International by 22.4% during the fourth quarter. Wealthfront Advisers LLC now owns 16,535 shares of the medical instruments supplier’s stock valued at $1,383,000 after acquiring an additional 3,024 shares during the last quarter. NEXT Financial Group Inc lifted its position in Baxter International by 6.3% during the fourth quarter. NEXT Financial Group Inc now owns 3,708 shares of the medical instruments supplier’s stock valued at $311,000 after acquiring an additional 219 shares during the last quarter. Finally, Exchange Traded Concepts LLC purchased a new stake in Baxter International during the fourth quarter valued at approximately $63,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

In other Baxter International news, SVP Jeanne K. Mason sold 47,146 shares of Baxter International stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $93.13, for a total transaction of $4,390,706.98. Following the completion of the sale, the senior vice president now directly owns 163,485 shares in the company, valued at $15,225,358.05. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Albert P. L. Stroucken sold 4,320 shares of Baxter International stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $79.64, for a total transaction of $344,044.80. Following the sale, the director now owns 34,018 shares of the company’s stock, valued at $2,709,193.52. The disclosure for this sale can be found here. 0.13% of the stock is owned by insiders.

A number of equities research analysts recently commented on the stock. Deutsche Bank decreased their target price on shares of Baxter International from $109.00 to $99.00 and set a “buy” rating for the company in a research report on Wednesday, March 18th. UBS Group increased their target price on shares of Baxter International from $95.00 to $103.00 and gave the company a “buy” rating in a research report on Friday, May 1st. TheStreet raised shares of Baxter International from a “c+” rating to a “b+” rating in a research report on Thursday, April 30th. Stifel Nicolaus raised shares of Baxter International from a “hold” rating to a “buy” rating and increased their target price for the company from $87.00 to $95.00 in a research report on Thursday, March 19th. Finally, Morgan Stanley increased their target price on shares of Baxter International from $88.00 to $95.00 and gave the company a “hold” rating in a research report on Friday, March 27th. Six equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $95.90.

Shares of NYSE:BAX traded up $0.37 during midday trading on Friday, hitting $86.93. The company’s stock had a trading volume of 1,345,267 shares, compared to its average volume of 2,669,100. The company has a debt-to-equity ratio of 0.84, a quick ratio of 2.19 and a current ratio of 2.74. The business’s 50 day simple moving average is $87.88 and its 200 day simple moving average is $85.45. Baxter International Inc has a 12-month low of $69.10 and a 12-month high of $95.19. The company has a market cap of $43.90 billion, a P/E ratio of 26.26, a price-to-earnings-growth ratio of 2.39 and a beta of 0.84.

Baxter International (NYSE:BAX) last issued its earnings results on Thursday, April 30th. The medical instruments supplier reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.09. Baxter International had a net margin of 8.85% and a return on equity of 22.70%. The company had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.74 billion. During the same period in the previous year, the firm earned $0.76 earnings per share. Baxter International’s quarterly revenue was up 6.2% compared to the same quarter last year. On average, sell-side analysts predict that Baxter International Inc will post 3.29 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Friday, June 5th will be paid a dividend of $0.245 per share. The ex-dividend date is Thursday, June 4th. This is an increase from Baxter International’s previous quarterly dividend of $0.22. This represents a $0.98 dividend on an annualized basis and a yield of 1.13%. Baxter International’s payout ratio is 26.59%.

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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Institutional Ownership by Quarter for Baxter International (NYSE:BAX)

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