Alberta Investment Management Corp Takes Position in Baxter International Inc (NYSE:BAX)

Alberta Investment Management Corp acquired a new stake in shares of Baxter International Inc (NYSE:BAX) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 43,300 shares of the medical instruments supplier’s stock, valued at approximately $3,516,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in BAX. Assenagon Asset Management S.A. raised its holdings in shares of Baxter International by 87.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 9,578 shares of the medical instruments supplier’s stock valued at $801,000 after purchasing an additional 4,478 shares during the period. Orser Capital Management LLC raised its holdings in shares of Baxter International by 4.3% during the fourth quarter. Orser Capital Management LLC now owns 33,260 shares of the medical instruments supplier’s stock valued at $2,775,000 after purchasing an additional 1,370 shares during the period. Wealthfront Advisers LLC raised its holdings in shares of Baxter International by 22.4% during the fourth quarter. Wealthfront Advisers LLC now owns 16,535 shares of the medical instruments supplier’s stock valued at $1,383,000 after purchasing an additional 3,024 shares during the period. NEXT Financial Group Inc raised its holdings in shares of Baxter International by 6.3% during the fourth quarter. NEXT Financial Group Inc now owns 3,708 shares of the medical instruments supplier’s stock valued at $311,000 after purchasing an additional 219 shares during the period. Finally, Exchange Traded Concepts LLC acquired a new position in shares of Baxter International during the fourth quarter valued at about $63,000. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Several research firms have recently commented on BAX. Deutsche Bank decreased their target price on shares of Baxter International from $109.00 to $99.00 and set a “buy” rating for the company in a research report on Wednesday, March 18th. Credit Suisse Group boosted their target price on shares of Baxter International from $97.00 to $99.00 and gave the stock an “outperform” rating in a research report on Friday, May 1st. TheStreet raised shares of Baxter International from a “c+” rating to a “b+” rating in a research report on Thursday, April 30th. SVB Leerink boosted their target price on shares of Baxter International from $96.00 to $105.00 and gave the stock an “outperform” rating in a research report on Friday, May 1st. Finally, JPMorgan Chase & Co. boosted their target price on shares of Baxter International from $94.00 to $96.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 28th. Six analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $95.90.

Baxter International stock opened at $86.93 on Friday. Baxter International Inc has a twelve month low of $69.10 and a twelve month high of $95.19. The firm has a 50 day moving average price of $87.88 and a 200-day moving average price of $85.45. The company has a market capitalization of $43.90 billion, a P/E ratio of 26.26, a P/E/G ratio of 2.39 and a beta of 0.84. The company has a quick ratio of 2.19, a current ratio of 2.74 and a debt-to-equity ratio of 0.84.

Baxter International (NYSE:BAX) last released its earnings results on Thursday, April 30th. The medical instruments supplier reported $0.82 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.09. Baxter International had a net margin of 8.85% and a return on equity of 22.70%. The firm had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.74 billion. During the same period in the prior year, the firm earned $0.76 EPS. The company’s revenue was up 6.2% compared to the same quarter last year. Equities analysts expect that Baxter International Inc will post 3.29 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Friday, June 5th will be given a dividend of $0.245 per share. This is an increase from Baxter International’s previous quarterly dividend of $0.22. This represents a $0.98 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date is Thursday, June 4th. Baxter International’s dividend payout ratio is currently 26.59%.

In related news, SVP Jeanne K. Mason sold 47,146 shares of the company’s stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $93.13, for a total transaction of $4,390,706.98. Following the sale, the senior vice president now directly owns 163,485 shares in the company, valued at approximately $15,225,358.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Sean Martin purchased 9,780 shares of the company’s stock in a transaction that occurred on Monday, March 30th. The shares were acquired at an average price of $82.19 per share, for a total transaction of $803,818.20. Following the completion of the purchase, the senior vice president now directly owns 39,504 shares in the company, valued at approximately $3,246,833.76. The disclosure for this purchase can be found here. 0.13% of the stock is owned by corporate insiders.

Baxter International Profile

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.

Featured Article: Understanding Compound Annual Growth Rate (CAGR)

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

Receive News & Ratings for Baxter International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Baxter International and related companies with MarketBeat.com's FREE daily email newsletter.