Griffin Asset Management Inc. lessened its holdings in Baxter International Inc (NYSE:BAX) by 38.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 3,995 shares of the medical instruments supplier’s stock after selling 2,500 shares during the period. Griffin Asset Management Inc.’s holdings in Baxter International were worth $258,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Colony Group LLC acquired a new position in Baxter International in the 3rd quarter valued at $6,966,000. Johnson Financial Group Inc. grew its holdings in Baxter International by 15.5% in the 3rd quarter. Johnson Financial Group Inc. now owns 21,038 shares of the medical instruments supplier’s stock valued at $1,320,000 after buying an additional 2,825 shares in the last quarter. Sawyer & Company Inc acquired a new position in Baxter International in the 4th quarter valued at $327,000. Maverick Capital Ltd. grew its holdings in Baxter International by 91.4% in the 4th quarter. Maverick Capital Ltd. now owns 108,210 shares of the medical instruments supplier’s stock valued at $6,995,000 after buying an additional 51,670 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. grew its holdings in shares of Baxter International by 1.7% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 2,673,665 shares of the medical instruments supplier’s stock worth $172,880,000 after purchasing an additional 44,117 shares in the last quarter. Institutional investors and hedge funds own 85.54% of the company’s stock.
Shares of Baxter International stock opened at $66.46 on Thursday. The firm has a market capitalization of $36,140.69, a PE ratio of 51.52, a P/E/G ratio of 1.93 and a beta of 0.82. 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 12 month low of $51.15 and a 12 month high of $72.58.
Baxter International (NYSE:BAX) last released 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 business had revenue of $2.77 billion for the quarter, compared to analyst estimates 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 was up 4.9% compared to the same quarter last year. During the same period last year, the firm posted $0.57 earnings per share. equities analysts predict that Baxter International Inc will post 2.78 EPS for the current fiscal year.
The firm also recently disclosed 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 yield of 0.96%. The ex-dividend date is Thursday, March 1st. Baxter International’s dividend payout ratio (DPR) is presently 49.61%.
Baxter International declared that its board has approved a stock repurchase plan on Tuesday, February 20th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the medical instruments supplier to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its shares are undervalued.
BAX has been the topic of several analyst reports. Evercore ISI initiated coverage on Baxter International in a report on Wednesday, January 3rd. They set an “outperform” rating and a $71.00 target price on the stock. Bank of America raised Baxter International from a “neutral” rating to a “buy” rating in a 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 target price on the stock in a report on Wednesday, January 3rd. Zacks Investment Research raised Baxter International from a “hold” rating to a “buy” rating and set a $76.00 target price on the stock in a report on Monday. Finally, JPMorgan Chase & Co. raised Baxter International from a “neutral” rating to an “overweight” rating in a report on Tuesday, January 2nd. Seven analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $71.27.
In other Baxter International news, SVP Giuseppe Accogli sold 28,641 shares of the stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $67.00, for a total value of $1,918,947.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Carole J. Shapazian sold 4,990 shares of the stock in a transaction dated Friday, March 2nd. The shares were sold at an average price of $66.05, for a total value of $329,589.50. The disclosure for this sale can be found here. Company insiders own 0.05% of the company’s stock.
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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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