Vident Investment Advisory LLC lowered its position in shares of Baxter International Inc (NYSE:BAX) by 1.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 55,117 shares of the medical instruments supplier’s stock after selling 804 shares during the period. Vident Investment Advisory LLC’s holdings in Baxter International were worth $3,563,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in BAX. Winslow Capital Management LLC purchased a new position in shares of Baxter International during the fourth quarter valued at $178,651,000. HealthCor Management L.P. bought a new stake in Baxter International during the fourth quarter valued at about $111,504,000. Amundi Pioneer Asset Management Inc. bought a new stake in Baxter International during the fourth quarter valued at about $74,517,000. Renaissance Technologies LLC boosted its position in Baxter International by 217.6% during the fourth quarter. Renaissance Technologies LLC now owns 1,486,913 shares of the medical instruments supplier’s stock valued at $96,114,000 after purchasing an additional 1,018,800 shares in the last quarter. Finally, Old Mutual Global Investors UK Ltd. boosted its position in Baxter International by 18.1% during 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. Hedge funds and other institutional investors own 85.55% of the company’s stock.
NYSE BAX traded down $1.63 during trading on Friday, hitting $63.89. The company’s stock had a trading volume of 3,003,813 shares, compared to its average volume of 2,878,960. The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.05 and a current ratio of 2.57. The company has a market cap of $34,509.48, a PE ratio of 25.76, a P/E/G ratio of 1.74 and a beta of 0.80. Baxter International Inc has a fifty-two week low of $52.27 and a fifty-two week high of $72.58.
Baxter International (NYSE:BAX) last issued its quarterly earnings results on Thursday, February 1st. 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 15.11% and a net margin of 6.79%. The business had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.77 billion. During the same quarter last year, the company earned $0.57 earnings per share. The company’s quarterly revenue was up 4.9% on a year-over-year basis. sell-side analysts predict that Baxter International Inc will post 2.78 earnings per share for the current fiscal year.
Baxter International announced that its board has approved a share buyback program on Tuesday, February 20th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the medical instruments supplier to buy shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.
The company also recently announced a quarterly dividend, which was paid on Monday, April 2nd. Investors of record on Friday, March 2nd were issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date of this dividend was Thursday, March 1st. Baxter International’s dividend payout ratio (DPR) is 25.81%.
In related news, Director James R. Gavin III sold 18,750 shares of Baxter International stock in a transaction dated Wednesday, March 28th. The stock was sold at an average price of $64.56, for a total transaction of $1,210,500.00. Following the completion of the sale, the director now owns 36,398 shares of the company’s stock, valued at $2,349,854.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Peter S. Hellman sold 3,760 shares of Baxter International 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 directly owns 25,522 shares of the company’s stock, valued at approximately $1,652,294.28. The disclosure for this sale can be found here. Insiders have sold 27,500 shares of company stock valued at $1,783,512 in the last ninety days. Corporate insiders own 0.05% of the company’s stock.
A number of equities research analysts recently weighed in on BAX shares. Zacks Investment Research downgraded Baxter International from a “buy” rating to a “hold” rating in a research report on Tuesday, December 26th. JPMorgan Chase raised Baxter International from a “neutral” rating to an “overweight” rating in a research report on Tuesday, January 2nd. Bank of America raised Baxter International from a “neutral” rating to a “buy” rating in a research report on Tuesday, January 2nd. 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 objective on the stock. Finally, Raymond James Financial raised Baxter International from a “market perform” rating to an “outperform” rating and set a $73.00 price objective on the stock in a research report on Wednesday, January 3rd. Seven analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $70.93.
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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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