Ameriprise Financial Inc. lessened its holdings in Baxter International Inc. (NYSE:BAX) by 2.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,195,089 shares of the medical instruments supplier’s stock after selling 186,430 shares during the quarter. Ameriprise Financial Inc. owned approximately 1.50% of Baxter International worth $514,231,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Bessemer Group Inc. lifted its position in shares of Baxter International by 42,907.2% during the 2nd quarter. Bessemer Group Inc. now owns 4,652,950 shares of the medical instruments supplier’s stock valued at $281,690,000 after acquiring an additional 4,642,131 shares during the period. Parametric Portfolio Associates LLC lifted its position in shares of Baxter International by 71.1% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 1,632,846 shares of the medical instruments supplier’s stock valued at $98,852,000 after acquiring an additional 678,429 shares during the period. Point72 Asset Management L.P. purchased a new position in shares of Baxter International during the 1st quarter worth approximately $32,851,000. Canada Pension Plan Investment Board increased its stake in shares of Baxter International by 35.8% during the 3rd quarter. Canada Pension Plan Investment Board now owns 1,413,054 shares of the medical instruments supplier’s stock worth $88,669,000 after purchasing an additional 372,500 shares in the last quarter. Finally, Bank of Nova Scotia increased its stake in shares of Baxter International by 91.0% during the 1st quarter. Bank of Nova Scotia now owns 668,074 shares of the medical instruments supplier’s stock worth $34,646,000 after purchasing an additional 318,343 shares in the last quarter. 83.59% of the stock is currently owned by institutional investors.
BAX has been the subject of several recent analyst reports. BidaskClub upgraded shares of Baxter International from a “buy” rating to a “strong-buy” rating in a report on Monday, August 14th. Citigroup began coverage on shares of Baxter International in a report on Thursday, August 17th. They issued a “neutral” rating and a $63.00 price objective on the stock. Royal Bank Of Canada reiterated a “hold” rating and issued a $60.00 price objective on shares of Baxter International in a report on Friday, September 1st. Zacks Investment Research raised shares of Baxter International from a “hold” rating to a “buy” rating and set a $69.00 target price for the company in a research report on Tuesday, October 10th. Finally, BMO Capital Markets reissued a “buy” rating and issued a $70.00 target price on shares of Baxter International in a research report on Friday, October 13th. Seven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $67.46.
Baxter International Inc. (NYSE:BAX) traded down $0.20 during trading on Thursday, reaching $63.52. 2,794,419 shares of the company’s stock traded hands, compared to its average volume of 2,697,861. Baxter International Inc. has a 1 year low of $43.75 and a 1 year high of $66.18. The firm has a market cap of $34,580.00, a price-to-earnings ratio of 26.45, a PEG ratio of 2.14 and a beta of 0.69. The company has a current ratio of 2.80, a quick ratio of 2.22 and a debt-to-equity ratio of 0.37.
Baxter International (NYSE:BAX) last announced its quarterly earnings results on Wednesday, October 25th. The medical instruments supplier reported $0.64 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.05. The company had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.66 billion. Baxter International had a net margin of 9.88% and a return on equity of 15.00%. Baxter International’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.56 EPS. research analysts expect that Baxter International Inc. will post 2.43 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 1st will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date of this dividend is Thursday, November 30th. Baxter International’s dividend payout ratio (DPR) is presently 34.59%.
In other news, SVP Jeanne K. Mason sold 33,350 shares of the firm’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $65.25, for a total transaction of $2,176,087.50. Following the completion of the transaction, the senior vice president now directly owns 124,609 shares of the company’s stock, valued at approximately $8,130,737.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Third Point Llc sold 5,000,000 shares of the stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $64.23, for a total transaction of $321,150,000.00. The disclosure for this sale can be found here. 0.05% of the stock is currently owned by company insiders.
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About Baxter International
Baxter International Inc, through its subsidiaries, provides renal and hospital products. The Company operates through two segments: Hospital Products and Renal. Its Hospital Products business manufactures sterile intravenous (IV) solutions and administration sets, premixed drugs and drug-reconstitution systems, pre-filled vials and syringes for injectable drugs, IV nutrition products, parenteral nutrition therapies, infusion pumps, inhalation anesthetics and biosurgery products.
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