Amalgamated Bank Reduces Position in Baxter International Inc (BAX)

Amalgamated Bank reduced its holdings in Baxter International Inc (NYSE:BAX) by 2.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,304 shares of the medical instruments supplier’s stock after selling 1,621 shares during the quarter. Amalgamated Bank’s holdings in Baxter International were worth $4,957,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in BAX. Private Trust Co. NA raised its holdings in shares of Baxter International by 6.3% during the third quarter. Private Trust Co. NA now owns 11,572 shares of the medical instruments supplier’s stock valued at $892,000 after acquiring an additional 690 shares during the period. Cpwm LLC raised its holdings in shares of Baxter International by 22.8% during the second quarter. Cpwm LLC now owns 4,230 shares of the medical instruments supplier’s stock valued at $312,000 after acquiring an additional 784 shares during the period. Penobscot Investment Management Company Inc. raised its holdings in shares of Baxter International by 20.1% during the third quarter. Penobscot Investment Management Company Inc. now owns 4,790 shares of the medical instruments supplier’s stock valued at $369,000 after acquiring an additional 800 shares during the period. Chicago Partners Investment Group LLC raised its holdings in shares of Baxter International by 31.4% during the third quarter. Chicago Partners Investment Group LLC now owns 3,351 shares of the medical instruments supplier’s stock valued at $225,000 after acquiring an additional 800 shares during the period. Finally, HL Financial Services LLC raised its holdings in shares of Baxter International by 2.2% during the third quarter. HL Financial Services LLC now owns 38,011 shares of the medical instruments supplier’s stock valued at $2,930,000 after acquiring an additional 823 shares during the period. Institutional investors and hedge funds own 83.40% of the company’s stock.

Baxter International stock opened at $65.02 on Monday. The company has a market capitalization of $34.60 billion, a price-to-earnings ratio of 26.22, a P/E/G ratio of 1.75 and a beta of 1.04. The company has a current ratio of 2.60, a quick ratio of 1.96 and a debt-to-equity ratio of 0.38. Baxter International Inc has a twelve month low of $61.05 and a twelve month high of $78.38.

Baxter International (NYSE:BAX) last released its quarterly earnings data on Wednesday, October 31st. The medical instruments supplier reported $0.80 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.06. The firm had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.79 billion. Baxter International had a net margin of 10.90% and a return on equity of 17.67%. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.64 EPS. Equities research analysts forecast that Baxter International Inc will post 3 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 2nd. Shareholders of record on Monday, December 3rd will be paid a $0.19 dividend. The ex-dividend date of this dividend is Friday, November 30th. This represents a $0.76 annualized dividend and a yield of 1.17%. Baxter International’s dividend payout ratio is presently 30.65%.

Baxter International announced that its board has approved a stock buyback program on Tuesday, November 13th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the medical instruments supplier to purchase up to 6.1% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

A number of equities research analysts have recently issued reports on BAX shares. Citigroup cut their price target on shares of Baxter International from $76.00 to $69.00 and set a “neutral” rating on the stock in a report on Tuesday, November 13th. Leerink Swann cut their price target on shares of Baxter International from $90.00 to $77.00 and set an “outperform” rating on the stock in a report on Thursday, November 1st. Argus upgraded shares of Baxter International from a “hold” rating to a “buy” rating and set a $70.00 price target on the stock in a report on Friday, November 2nd. Wells Fargo & Co cut their price target on shares of Baxter International from $82.00 to $72.00 and set an “outperform” rating on the stock in a report on Thursday, November 1st. Finally, Piper Jaffray Companies cut their price target on shares of Baxter International from $83.00 to $72.00 and set an “overweight” rating on the stock in a report on Thursday, November 1st. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $74.41.

In other Baxter International news, SVP Giuseppe Accogli sold 17,647 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the senior vice president now directly owns 59,452 shares of the company’s stock, valued at $4,593,856.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Carole J. Shapazian sold 11,749 shares of the business’s stock in a transaction that occurred on Monday, December 3rd. The stock was sold at an average price of $68.48, for a total transaction of $804,571.52. Following the completion of the sale, the director now directly owns 15,237 shares of the company’s stock, valued at $1,043,429.76. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,029,396 shares of company stock worth $551,128,155. Company insiders own 0.05% of the company’s stock.

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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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Institutional Ownership by Quarter for Baxter International (NYSE:BAX)

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