Tweedy Browne Co. LLC decreased its position in Baxter International Inc (NYSE:BAX) by 1.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,517,179 shares of the medical instruments supplier’s stock after selling 15,355 shares during the quarter. Baxter International comprises 2.7% of Tweedy Browne Co. LLC’s investment portfolio, making the stock its 14th largest holding. Tweedy Browne Co. LLC owned 0.28% of Baxter International worth $98,070,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in BAX. Geode Capital Management LLC boosted its position in shares of Baxter International by 4.4% in the fourth quarter. Geode Capital Management LLC now owns 5,812,690 shares of the medical instruments supplier’s stock valued at $375,011,000 after acquiring an additional 247,337 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Baxter International by 0.3% in the third quarter. Bank of New York Mellon Corp now owns 4,978,139 shares of the medical instruments supplier’s stock valued at $312,378,000 after purchasing an additional 16,523 shares in the last quarter. Two Sigma Advisers LP raised its stake in shares of Baxter International by 6.8% in the fourth quarter. Two Sigma Advisers LP now owns 3,695,958 shares of the medical instruments supplier’s stock valued at $238,907,000 after purchasing an additional 236,000 shares in the last quarter. TIAA CREF Investment Management LLC raised its stake in shares of Baxter International by 0.5% in the fourth quarter. TIAA CREF Investment Management LLC now owns 3,654,214 shares of the medical instruments supplier’s stock valued at $236,208,000 after purchasing an additional 19,093 shares in the last quarter. Finally, Old Mutual Global Investors UK Ltd. raised its stake in shares of Baxter International by 18.1% in the fourth quarter. Old Mutual Global Investors UK Ltd. now owns 3,098,384 shares of the medical instruments supplier’s stock valued at $200,279,000 after purchasing an additional 474,520 shares in the last quarter. 85.55% of the stock is owned by institutional investors and hedge funds.
BAX has been the subject of several recent analyst reports. Zacks Investment Research lowered Baxter International from a “buy” rating to a “hold” rating in a research note on Tuesday, December 26th. Bank of America upgraded Baxter International from a “neutral” rating to a “buy” rating in a research note on Tuesday, January 2nd. Evercore ISI initiated coverage on Baxter International in a research note on Wednesday, January 3rd. They issued an “outperform” rating and a $71.00 target price for the company. Royal Bank of Canada reiterated a “hold” rating and issued a $72.00 price target on shares of Baxter International in a report on Friday, February 2nd. Finally, ValuEngine cut Baxter International from a “buy” rating to a “hold” rating in a report on Wednesday, March 7th. Seven research analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $70.93.
BAX traded down $1.63 during trading on Friday, hitting $63.89. The stock had a trading volume of 3,003,813 shares, compared to its average volume of 2,878,960. The company has a market capitalization of $35,389.89, a PE ratio of 25.76, a price-to-earnings-growth ratio of 1.79 and a beta of 0.80. 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 $52.27 and a one year high of $72.58.
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 analysts’ consensus estimates of $0.59 by $0.05. Baxter International had a return on equity of 15.11% and a net margin of 6.79%. The firm had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.77 billion. During the same period in the prior year, the company posted $0.57 EPS. The company’s revenue was up 4.9% compared to the same quarter last year. equities analysts anticipate that Baxter International Inc will post 2.78 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, April 2nd. Stockholders of record on Friday, March 2nd were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Thursday, March 1st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.00%. Baxter International’s dividend payout ratio (DPR) is currently 25.81%.
Baxter International declared that its Board of Directors has initiated a stock repurchase program on Tuesday, February 20th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the medical instruments supplier to buy shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its shares are undervalued.
In other Baxter International news, Director Peter S. Hellman sold 3,760 shares of the company’s stock in a transaction dated Monday, April 2nd. The stock was sold at an average price of $64.74, for a total value of $243,422.40. Following the sale, the director now owns 25,522 shares in the company, valued at approximately $1,652,294.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director James R. Gavin III sold 18,750 shares of the company’s stock in a transaction dated Wednesday, March 28th. The shares were sold at an average price of $64.56, for a total value of $1,210,500.00. Following the sale, the director now owns 36,398 shares in the company, valued at approximately $2,349,854.88. The disclosure for this sale can be found here. Insiders have sold a total of 27,500 shares of company stock valued at $1,783,512 in the last three months. 0.05% of the stock is owned by 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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