Gulf International Bank UK Ltd decreased its position in Baxter International Inc (NYSE:BAX) by 30.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 117,670 shares of the medical instruments supplier’s stock after selling 50,607 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Baxter International were worth $7,745,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also recently added to or reduced their stakes in the stock. Bridgeworth LLC purchased a new position in Baxter International in the 2nd quarter worth approximately $102,000. Centaurus Financial Inc. purchased a new position in Baxter International in the 2nd quarter worth approximately $117,000. Point72 Hong Kong Ltd purchased a new position in Baxter International in the 3rd quarter worth approximately $122,000. Bell Rock Capital LLC purchased a new position in Baxter International in the 3rd quarter worth approximately $134,000. Finally, Baxter Bros Inc. purchased a new position in Baxter International in the 3rd quarter worth approximately $201,000. Institutional investors own 83.28% of the company’s stock.
Shares of BAX stock opened at $67.12 on Thursday. The firm has a market capitalization of $35.39 billion, a P/E ratio of 27.06, a PEG ratio of 1.65 and a beta of 0.96. Baxter International Inc has a twelve month low of $61.05 and a twelve month high of $78.38. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.96 and a current ratio of 2.60.
Baxter International (NYSE:BAX) last issued its quarterly earnings results on Wednesday, October 31st. The medical instruments supplier reported $0.80 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.74 by $0.06. The company had revenue of $2.77 billion for the quarter, compared to analysts’ expectations of $2.79 billion. Baxter International had a return on equity of 17.67% and a net margin of 10.90%. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.64 earnings per share. As a group, equities analysts anticipate that Baxter International Inc will post 3 earnings per share for the current fiscal year.
Baxter International announced that its board has approved a stock buyback program on Tuesday, November 13th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the medical instruments supplier to repurchase up to 6.1% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.
The company also recently declared a quarterly dividend, which was paid on Wednesday, January 2nd. Investors of record on Monday, December 3rd were paid a $0.19 dividend. The ex-dividend date of this dividend was Friday, November 30th. This represents a $0.76 annualized dividend and a yield of 1.13%. Baxter International’s payout ratio is 30.65%.
In other Baxter International news, Director Carole J. Shapazian sold 11,749 shares of the business’s stock in a transaction on Monday, December 3rd. The stock was sold at an average price of $68.48, for a total value of $804,571.52. Following the sale, the director now directly owns 15,237 shares of the company’s stock, valued at $1,043,429.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John D. Forsyth sold 1,500 shares of the business’s stock in a transaction on Thursday, December 13th. The stock was sold at an average price of $67.02, for a total value of $100,530.00. Following the completion of the sale, the director now directly owns 31,640 shares in the company, valued at $2,120,512.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 8,013,249 shares of company stock worth $549,865,102. 0.07% of the stock is owned by insiders.
BAX has been the topic of a number of analyst reports. Zacks Investment Research cut Baxter International from a “buy” rating to a “hold” rating in a research note on Thursday, January 3rd. Argus raised Baxter International from a “hold” rating to a “buy” rating and set a $70.00 price target on the stock in a research note on Friday, November 2nd. Piper Jaffray Companies decreased their price target on Baxter International from $83.00 to $72.00 and set an “overweight” rating on the stock in a research note on Thursday, November 1st. Wells Fargo & Co lifted their price target on Baxter International from $72.00 to $76.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 4th. Finally, Morgan Stanley raised Baxter International from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $66.00 to $77.00 in a research note on Wednesday, January 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $76.00.
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About Baxter International
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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