First National Trust Co increased its stake in shares of Baxter International Inc (NYSE:BAX) by 69.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,168 shares of the medical instruments supplier’s stock after buying an additional 2,530 shares during the quarter. First National Trust Co’s holdings in Baxter International were worth $399,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Family Capital Trust Co acquired a new stake in Baxter International during the fourth quarter worth approximately $103,000. Grove Bank & Trust grew its position in Baxter International by 526.0% during the third quarter. Grove Bank & Trust now owns 2,285 shares of the medical instruments supplier’s stock worth $143,000 after buying an additional 1,920 shares in the last quarter. Steward Partners Investment Advisory LLC acquired a new stake in Baxter International during the third quarter worth approximately $175,000. Hutner Capital Management Inc. acquired a new stake in Baxter International during the third quarter worth approximately $203,000. Finally, Stonebridge Capital Advisors LLC acquired a new stake in Baxter International during the third quarter worth approximately $204,000. 83.82% of the stock is currently owned by institutional investors and hedge funds.
In other news, SVP Giuseppe Accogli sold 28,641 shares of the stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $67.00, for a total value of $1,918,947.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Third Point Llc sold 5,000,000 shares of the stock in a transaction on Monday, November 6th. The shares were sold at an average price of $64.23, for a total value of $321,150,000.00. The disclosure for this sale can be found here. Insiders sold a total of 5,061,991 shares of company stock valued at $325,245,035 over the last quarter. 0.05% of the stock is owned by corporate insiders.
A number of equities research analysts recently issued reports on BAX shares. Evercore ISI started coverage on Baxter International in a research report on Wednesday, January 3rd. They set an “outperform” rating and a $71.00 price target on the stock. Bank of America upgraded Baxter International from a “neutral” rating to a “buy” rating in a research note on Tuesday, January 2nd. Raymond James Financial upgraded Baxter International from a “market perform” rating to an “outperform” rating and set a $73.00 target price for the company in a research note on Wednesday, January 3rd. Zacks Investment Research upgraded Baxter International from a “hold” rating to a “buy” rating and set a $69.00 target price for the company in a research note on Tuesday, October 10th. Finally, Stifel Nicolaus restated a “hold” rating and set a $65.00 target price on shares of Baxter International in a research note on Thursday, October 26th. Seven research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $68.64.
Shares of Baxter International Inc (NYSE BAX) opened at $70.01 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.22 and a current ratio of 2.80. Baxter International Inc has a 12 month low of $45.47 and a 12 month high of $70.02. The firm has a market capitalization of $37,702.36, a price-to-earnings ratio of 28.59, a price-to-earnings-growth ratio of 2.08 and a beta of 0.69.
Baxter International (NYSE:BAX) last released its earnings results on Wednesday, October 25th. The medical instruments supplier reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.05. Baxter International had a return on equity of 15.00% and a net margin of 9.88%. The firm had revenue of $2.71 billion during the quarter, compared to analysts’ expectations of $2.66 billion. During the same period in the prior year, the company earned $0.56 earnings per share. The company’s quarterly revenue was up 5.8% on a year-over-year basis. equities analysts anticipate that Baxter International Inc will post 2.43 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Stockholders of record on Friday, December 1st were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date of this dividend was Thursday, November 30th. Baxter International’s payout ratio is 34.41%.
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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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