Los Angeles Capital Management & Equity Research Inc. increased its stake in shares of Baxter International Inc (NYSE:BAX) by 3.4% in the 3rd quarter, Holdings Channel reports. The firm owned 1,342,202 shares of the medical instruments supplier’s stock after buying an additional 43,860 shares during the quarter. Los Angeles Capital Management & Equity Research Inc.’s holdings in Baxter International were worth $103,470,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of the stock. FMR LLC raised its holdings in Baxter International by 25.6% in the 2nd quarter. FMR LLC now owns 28,637,027 shares of the medical instruments supplier’s stock valued at $2,114,558,000 after acquiring an additional 5,845,720 shares during the last quarter. Voya Investment Management LLC raised its holdings in Baxter International by 411.6% in the 2nd quarter. Voya Investment Management LLC now owns 3,411,849 shares of the medical instruments supplier’s stock valued at $251,931,000 after acquiring an additional 2,745,012 shares during the last quarter. Morgan Stanley raised its holdings in Baxter International by 107.8% in the 2nd quarter. Morgan Stanley now owns 2,873,253 shares of the medical instruments supplier’s stock valued at $212,161,000 after acquiring an additional 1,490,287 shares during the last quarter. Standard Life Aberdeen plc raised its holdings in Baxter International by 77.2% in the 2nd quarter. Standard Life Aberdeen plc now owns 2,596,870 shares of the medical instruments supplier’s stock valued at $191,753,000 after acquiring an additional 1,131,691 shares during the last quarter. Finally, Swiss National Bank raised its holdings in Baxter International by 6.1% in the 2nd quarter. Swiss National Bank now owns 2,191,439 shares of the medical instruments supplier’s stock valued at $161,816,000 after acquiring an additional 125,700 shares during the last quarter. Hedge funds and other institutional investors own 82.28% of the company’s stock.
In other Baxter International news, SVP Giuseppe Accogli sold 17,647 shares of the business’s stock in a transaction on Monday, September 17th. The shares were sold at an average price of $77.27, for a total value of $1,363,583.69. Following the transaction, the senior vice president now owns 59,452 shares in the company, valued at approximately $4,593,856.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.07% of the stock is currently owned by corporate insiders.
Shares of Baxter International stock opened at $63.43 on Wednesday. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.62 and a quick ratio of 2.00. Baxter International Inc has a twelve month low of $61.05 and a twelve month high of $78.38. The firm has a market cap of $33.22 billion, a P/E ratio of 25.58, a price-to-earnings-growth ratio of 1.67 and a beta of 1.02.
Baxter International (NYSE:BAX) last announced its quarterly earnings results on Wednesday, October 31st. The medical instruments supplier reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.06. Baxter International had a net margin of 10.90% and a return on equity of 17.72%. The firm had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.79 billion. During the same period in the prior year, the company earned $0.64 EPS. The firm’s revenue was up 2.2% on a year-over-year basis. As a group, sell-side analysts expect that Baxter International Inc will post 3 earnings per share for the current year.
Several research analysts have weighed in on BAX shares. Zacks Investment Research upgraded Baxter International from a “hold” rating to a “buy” rating and set a $87.00 price target for the company in a report on Tuesday, September 25th. Argus raised shares of Baxter International from a “hold” rating to a “buy” rating and set a $70.00 price objective for the company in a research note on Friday, November 2nd. Royal Bank of Canada reissued a “hold” rating and set a $76.00 price objective on shares of Baxter International in a research note on Friday, July 27th. ValuEngine cut shares of Baxter International from a “buy” rating to a “hold” rating in a research note on Thursday, November 1st. Finally, Citigroup boosted their price objective on shares of Baxter International from $74.00 to $76.00 and gave the company a “neutral” rating in a research note on Tuesday, July 31st. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have issued a buy rating to the company. Baxter International has an average rating of “Buy” and a consensus price target of $75.63.
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Baxter International Company 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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