Vident Investment Advisory LLC lowered its stake in shares of Baxter International Inc (NYSE:BAX) by 1.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 55,117 shares of the medical instruments supplier’s stock after selling 804 shares during the quarter. Vident Investment Advisory LLC’s holdings in Baxter International were worth $3,563,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Family Capital Trust Co bought a new stake in Baxter International during the fourth quarter worth approximately $103,000. Robecosam AG bought a new stake in Baxter International during the fourth quarter worth approximately $103,000. Community Bank N.A. boosted its position in Baxter International by 152.7% during the fourth quarter. Community Bank N.A. now owns 1,655 shares of the medical instruments supplier’s stock worth $107,000 after purchasing an additional 1,000 shares during the period. Trustcore Financial Services LLC bought a new stake in Baxter International during the fourth quarter worth approximately $131,000. Finally, Grove Bank & Trust boosted 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 purchasing an additional 1,920 shares during the period. 85.56% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have issued reports on BAX. ValuEngine cut Baxter International from a “buy” rating to a “hold” rating in a research report on Wednesday, March 7th. Barclays increased their price objective on Baxter International from $73.00 to $77.00 and gave the company an “overweight” rating in a research report on Friday, February 2nd. Zacks Investment Research raised Baxter International from a “sell” rating to a “hold” rating in a research report on Thursday, January 4th. BMO Capital Markets increased their price objective on Baxter International from $74.00 to $77.00 and gave the company an “outperform” rating in a research report on Friday, February 2nd. Finally, Royal Bank of Canada reissued a “hold” rating and issued a $72.00 price objective on shares of Baxter International in a research report on Friday, February 2nd. Eight equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. Baxter International has a consensus rating of “Buy” and a consensus target price of $71.00.
In related news, Director Carole J. Shapazian sold 4,990 shares of the firm’s stock in a transaction on Friday, March 2nd. The stock was sold at an average price of $66.05, for a total value of $329,589.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Giuseppe Accogli sold 28,641 shares of the firm’s 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 disclosure for this sale can be found here. 0.05% of the stock is owned by company insiders.
Shares of Baxter International Inc (BAX) opened at $67.89 on Friday. Baxter International Inc has a 12-month low of $51.03 and a 12-month high of $72.58. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.57 and a quick ratio of 2.05. The firm has a market capitalization of $36,507.98, a P/E ratio of 52.63, a PEG ratio of 1.95 and a beta of 0.82.
Baxter International (NYSE:BAX) last posted its quarterly earnings data on Thursday, February 1st. The medical instruments supplier reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.05. The company had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.77 billion. Baxter International had a return on equity of 15.11% and a net margin of 6.79%. Baxter International’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.57 earnings per share. sell-side analysts anticipate that Baxter International Inc will post 2.78 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 2nd. Investors of record on Friday, March 2nd will be given a $0.16 dividend. The ex-dividend date is Thursday, March 1st. This represents a $0.64 annualized dividend and a yield of 0.94%. Baxter International’s dividend payout ratio (DPR) is currently 49.61%.
Baxter International declared that its Board of Directors has approved a stock repurchase program on Tuesday, February 20th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the medical instruments supplier to purchase shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.
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Baxter International Company Profile
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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