Clearbridge Investments LLC trimmed its holdings in shares of Baxter International Inc (NYSE:BAX) by 4.2% during the 4th quarter, Holdings Channel reports. The institutional investor owned 94,913 shares of the medical instruments supplier’s stock after selling 4,158 shares during the period. Clearbridge Investments LLC’s holdings in Baxter International were worth $6,135,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of BAX. Family Capital Trust Co acquired a new position in Baxter International during the fourth quarter worth $103,000. Community Bank N.A. increased 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 buying an additional 1,000 shares during the last quarter. Trustcore Financial Services LLC acquired a new position in Baxter International during the fourth quarter worth $131,000. Grove Bank & Trust increased 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 during the last quarter. Finally, Truewealth LLC acquired a new position in Baxter International during the fourth quarter worth $159,000. 85.56% of the stock is currently owned by hedge funds and other institutional investors.
BAX has been the topic of several research analyst reports. Evercore ISI initiated coverage on Baxter International in a research report on Wednesday, January 3rd. They issued an “outperform” rating and a $71.00 price target on the stock. Bank of America raised Baxter International from a “neutral” rating to a “buy” rating in a research report on Tuesday, January 2nd. Raymond James Financial raised Baxter International from a “market perform” rating to an “outperform” rating and set a $73.00 price target on the stock in a research report on Wednesday, January 3rd. Zacks Investment Research downgraded Baxter International from a “buy” rating to a “hold” rating in a research report on Tuesday, December 26th. Finally, JPMorgan Chase & Co. raised Baxter International from a “neutral” rating to an “overweight” rating in a research report on Tuesday, January 2nd. Eight equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. Baxter International currently has a consensus rating of “Buy” and an average price target of $71.00.
Shares of Baxter International Inc (BAX) opened at $67.89 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.57 and a quick ratio of 2.05. Baxter International Inc has a one year low of $51.03 and a one year high of $72.58. The firm has a market cap of $36,670.04, a PE ratio of 27.27, a P/E/G ratio of 1.96 and a beta of 0.82.
Baxter International (NYSE:BAX) last released its earnings results on Thursday, February 1st. The medical instruments supplier reported $0.64 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.05. Baxter International had a net margin of 6.79% and a return on equity of 15.11%. The business had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.77 billion. During the same quarter last year, the company earned $0.57 earnings per share. The firm’s revenue was up 4.9% on a year-over-year basis. research analysts forecast that Baxter International Inc will post 2.78 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 2nd. Investors of record on Friday, March 2nd will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 0.94%. The ex-dividend date of this dividend is Thursday, March 1st. Baxter International’s payout ratio is presently 49.61%.
Baxter International declared that its Board of Directors has approved a share repurchase program on Tuesday, February 20th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the medical instruments supplier to buy shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
In other Baxter International news, Director Carole J. Shapazian sold 4,990 shares of the firm’s stock in a transaction dated Friday, March 2nd. The shares were sold at an average price of $66.05, for a total transaction of $329,589.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Giuseppe Accogli sold 28,641 shares of the firm’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $67.00, for a total transaction of $1,918,947.00. The disclosure for this sale can be found here. 0.05% of the stock is currently owned by company insiders.
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Baxter International 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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