Toronto Dominion Bank lessened its holdings in shares of Baxter International Inc (NYSE:BAX) by 98.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,138 shares of the medical instruments supplier’s stock after selling 426,594 shares during the period. Toronto Dominion Bank’s holdings in Baxter International were worth $29,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in BAX. Jaffetilchin Investment Partners LLC acquired a new stake in shares of Baxter International during the 2nd quarter worth approximately $44,000. Campbell Wealth Management acquired a new stake in shares of Baxter International during the 2nd quarter worth approximately $26,000. Allworth Financial LP boosted its position in shares of Baxter International by 118.9% during the 2nd quarter. Allworth Financial LP now owns 313 shares of the medical instruments supplier’s stock worth $27,000 after acquiring an additional 170 shares in the last quarter. Financial Management Professionals Inc. acquired a new stake in shares of Baxter International during the 2nd quarter worth approximately $28,000. Finally, Creative Financial Designs Inc. ADV acquired a new stake in shares of Baxter International during the 2nd quarter worth approximately $30,000. Hedge funds and other institutional investors own 83.74% of the company’s stock.
Shares of BAX traded down $0.07 during trading hours on Thursday, hitting $82.82. 67,968 shares of the stock were exchanged, compared to its average volume of 3,549,546. Baxter International Inc has a fifty-two week low of $69.10 and a fifty-two week high of $95.19. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.97 and a quick ratio of 2.31. The business has a 50-day moving average of $85.58 and a 200-day moving average of $86.31. The firm has a market capitalization of $42.66 billion, a P/E ratio of 25.46, a price-to-earnings-growth ratio of 2.83 and a beta of 0.82.
Baxter International (NYSE:BAX) last posted its quarterly earnings data on Thursday, July 30th. The medical instruments supplier reported $0.64 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.71 by ($0.07). Baxter International had a return on equity of 20.75% and a net margin of 8.10%. The firm had revenue of $2.72 billion for the quarter, compared to analyst estimates of $2.86 billion. During the same quarter last year, the company earned $0.89 earnings per share. The company’s quarterly revenue was down 4.3% compared to the same quarter last year. As a group, analysts forecast that Baxter International Inc will post 3.05 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Monday, August 31st will be issued a $0.245 dividend. This represents a $0.98 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date is Friday, August 28th. Baxter International’s payout ratio is 29.61%.
Several research firms recently issued reports on BAX. Oppenheimer reiterated a “buy” rating on shares of Baxter International in a research report on Thursday, July 30th. Piper Sandler increased their price target on shares of Baxter International from $90.00 to $100.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. TheStreet upgraded shares of Baxter International from a “c+” rating to a “b+” rating in a research report on Thursday, April 30th. JPMorgan Chase & Co. increased their price objective on shares of Baxter International from $94.00 to $96.00 and gave the company an “overweight” rating in a research note on Tuesday, April 28th. Finally, SVB Leerink increased their price objective on shares of Baxter International from $96.00 to $105.00 and gave the company an “outperform” rating in a research note on Friday, May 1st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $96.72.
In other Baxter International news, Director John D. Forsyth sold 1,500 shares of the firm’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $82.95, for a total value of $124,425.00. Following the completion of the sale, the director now directly owns 35,398 shares in the company, valued at $2,936,264.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Andrew Frye sold 3,742 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $91.00, for a total transaction of $340,522.00. Following the completion of the sale, the senior vice president now owns 16,216 shares of the company’s stock, valued at $1,475,656. The disclosure for this sale can be found here. Insiders sold 92,482 shares of company stock valued at $7,901,355 over the last 90 days. Corporate insiders own 0.13% of the company’s stock.
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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