US Bancorp DE reduced its holdings in Baxter International Inc (NYSE:BAX) by 1.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 340,092 shares of the medical instruments supplier’s stock after selling 5,803 shares during the quarter. US Bancorp DE’s holdings in Baxter International were worth $27,854,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in BAX. Weaver Consulting Group bought a new stake in shares of Baxter International in the first quarter worth about $25,000. Personal Wealth Partners bought a new stake in shares of Baxter International in the second quarter worth about $29,000. TRUE Private Wealth Advisors bought a new stake in shares of Baxter International in the second quarter worth about $29,000. Evolution Wealth Advisors LLC bought a new stake in shares of Baxter International in the second quarter worth about $32,000. Finally, Manchester Financial Inc. bought a new stake in shares of Baxter International in the second quarter worth about $37,000. Institutional investors own 83.42% of the company’s stock.
In related news, SVP Jacqueline Kunzler sold 593 shares of the stock in a transaction that occurred on Wednesday, June 19th. The stock was sold at an average price of $80.46, for a total transaction of $47,712.78. Following the completion of the transaction, the senior vice president now directly owns 9,023 shares of the company’s stock, valued at $725,990.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James R. Gavin III sold 7,950 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $87.63, for a total value of $696,658.50. Following the transaction, the director now directly owns 40,932 shares of the company’s stock, valued at $3,586,871.16. The disclosure for this sale can be found here. Insiders have sold 14,477 shares of company stock valued at $1,267,275 over the last three months. Insiders own 0.70% of the company’s stock.
Shares of BAX stock traded down $0.89 on Friday, hitting $86.93. 1,577,338 shares of the stock were exchanged, compared to its average volume of 2,028,399. The company has a current ratio of 2.78, a quick ratio of 2.10 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $44.84 billion, a P/E ratio of 28.50, a price-to-earnings-growth ratio of 2.03 and a beta of 1.00. The business has a 50-day moving average of $86.38 and a 200 day moving average of $80.16. Baxter International Inc has a fifty-two week low of $61.05 and a fifty-two week high of $89.93.
Baxter International (NYSE:BAX) last posted its quarterly earnings data on Thursday, July 25th. The medical instruments supplier reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.08. Baxter International had a return on equity of 21.21% and a net margin of 14.28%. The company had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.80 billion. During the same period in the prior year, the firm earned $0.77 earnings per share. Baxter International’s revenue for the quarter was down .1% compared to the same quarter last year. As a group, research analysts forecast that Baxter International Inc will post 3.37 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, August 30th will be given a dividend of $0.22 per share. The ex-dividend date is Thursday, August 29th. This represents a $0.88 annualized dividend and a yield of 1.01%. Baxter International’s dividend payout ratio (DPR) is presently 28.85%.
BAX has been the subject of several recent analyst reports. Barclays set a $82.00 price target on Baxter International and gave the stock a “hold” rating in a report on Friday, July 26th. Piper Jaffray Companies reaffirmed a “buy” rating on shares of Baxter International in a research report on Tuesday, September 10th. KeyCorp initiated coverage on Baxter International in a research report on Tuesday, June 25th. They set a “sector weight” rating for the company. Zacks Investment Research raised Baxter International from a “hold” rating to a “buy” rating and set a $86.00 price objective for the company in a research report on Friday, June 21st. Finally, Raymond James upped their price objective on Baxter International from $84.00 to $95.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Baxter International has a consensus rating of “Buy” and an average price target of $85.27.
About Baxter International
Baxter International Inc, through its subsidiaries, develops and provides a portfolio of healthcare products. The company operates through North and South America; Europe, Middle East and Africa; and Asia-Pacific segments. The company 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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