Handelsbanken Fonder AB cut its stake in shares of Baxter International Inc (NYSE:BAX) by 17.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 70,800 shares of the medical instruments supplier’s stock after selling 15,000 shares during the quarter. Handelsbanken Fonder AB’s holdings in Baxter International were worth $4,605,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors also recently made changes to their positions in BAX. Tower Research Capital LLC TRC lifted its position in Baxter International by 553.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,791 shares of the medical instruments supplier’s stock valued at $310,000 after purchasing an additional 4,058 shares during the last quarter. Baird Financial Group Inc. lifted its position in Baxter International by 0.8% during the fourth quarter. Baird Financial Group Inc. now owns 113,681 shares of the medical instruments supplier’s stock valued at $7,348,000 after purchasing an additional 952 shares during the last quarter. First Republic Investment Management Inc. lifted its position in Baxter International by 8.4% during the fourth quarter. First Republic Investment Management Inc. now owns 70,908 shares of the medical instruments supplier’s stock valued at $4,583,000 after purchasing an additional 5,518 shares during the last quarter. Mutual Advisors LLC bought a new stake in Baxter International during the fourth quarter valued at approximately $234,000. Finally, OppenheimerFunds Inc. lifted its position in Baxter International by 18.6% during the fourth quarter. OppenheimerFunds Inc. now owns 26,733 shares of the medical instruments supplier’s stock valued at $1,728,000 after purchasing an additional 4,199 shares during the last quarter. Institutional investors and hedge funds own 83.41% of the company’s stock.
In related news, Director Peter S. Hellman sold 3,760 shares of the company’s stock in a transaction on Monday, April 2nd. The shares were sold at an average price of $64.74, for a total transaction of $243,422.40. Following the completion of the sale, the director now directly owns 25,522 shares in the company, valued at approximately $1,652,294.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Brik V. Eyre sold 25,000 shares of the company’s stock in a transaction on Tuesday, May 22nd. The shares were sold at an average price of $71.96, for a total transaction of $1,799,000.00. Following the sale, the senior vice president now owns 128,777 shares of the company’s stock, valued at $9,266,792.92. The disclosure for this sale can be found here. Insiders have sold a total of 74,104 shares of company stock valued at $5,137,706 over the last quarter. 0.05% of the stock is currently owned by company insiders.
NYSE:BAX opened at $74.32 on Friday. Baxter International Inc has a 52 week low of $58.81 and a 52 week high of $75.62. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.63 and a quick ratio of 2.03. The firm has a market cap of $39.49 billion, a P/E ratio of 28.25, a PEG ratio of 1.90 and a beta of 0.81.
Baxter International (NYSE:BAX) last posted its quarterly earnings results on Thursday, April 26th. The medical instruments supplier reported $0.70 EPS for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.08. Baxter International had a net margin of 7.75% and a return on equity of 15.70%. The company had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.62 billion. During the same period in the prior year, the business posted $0.58 EPS. The firm’s revenue was up 8.2% compared to the same quarter last year. equities research analysts expect that Baxter International Inc will post 2.89 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, July 2nd. Investors of record on Friday, June 1st will be issued a dividend of $0.19 per share. This is a positive change from Baxter International’s previous quarterly dividend of $0.16. This represents a $0.76 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date is Thursday, May 31st. Baxter International’s dividend payout ratio is currently 30.65%.
BAX has been the subject of a number of recent research reports. ValuEngine lowered shares of Baxter International from a “buy” rating to a “hold” rating in a report on Wednesday, March 7th. Zacks Investment Research upgraded shares of Baxter International from a “hold” rating to a “buy” rating and set a $76.00 price objective for the company in a report on Monday, March 19th. Stifel Nicolaus boosted their price objective on shares of Baxter International from $71.00 to $72.00 and gave the stock a “hold” rating in a report on Monday, April 30th. Finally, Citigroup boosted their price objective on shares of Baxter International from $70.00 to $72.00 and gave the stock a “neutral” rating in a report on Monday, April 30th. Seven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Baxter International has an average rating of “Buy” and an average price target of $73.25.
Baxter International Profile
Baxter International Inc provides a portfolio of healthcare products. The company operates through North and South America; Europe, Middle East and Africa; and Asia-Pacific segments. It offers peritoneal dialysis and hemodialysis, and additional dialysis therapies and services; renal replacement therapies and other organ support therapies focused in the intensive care unit; sterile intravenous (IV) solutions, IV therapies, infusion pumps, administration sets, and drug reconstitution devices; and parenteral nutrition therapies.
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