Baxter International Inc. (BAX) is Smith Asset Management Group LP’s 8th Largest Position

Smith Asset Management Group LP reduced its stake in shares of Baxter International Inc. (NYSE:BAX) by 14.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,191,590 shares of the medical instruments supplier’s stock after selling 206,134 shares during the period. Baxter International makes up approximately 2.2% of Smith Asset Management Group LP’s portfolio, making the stock its 8th largest position. Smith Asset Management Group LP owned 0.22% of Baxter International worth $72,140,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in BAX. Quadrant Capital Group LLC increased its stake in shares of Baxter International by 1.3% in the first quarter. Quadrant Capital Group LLC now owns 2,344 shares of the medical instruments supplier’s stock valued at $113,000 after buying an additional 31 shares in the last quarter. Dumont & Blake Investment Advisors LLC increased its stake in shares of Baxter International by 0.3% in the first quarter. Dumont & Blake Investment Advisors LLC now owns 12,786 shares of the medical instruments supplier’s stock valued at $663,000 after buying an additional 40 shares in the last quarter. Livingston Group Asset Management CO operating as Southport Capital Management increased its stake in shares of Baxter International by 0.3% in the first quarter. Livingston Group Asset Management CO operating as Southport Capital Management now owns 18,079 shares of the medical instruments supplier’s stock valued at $938,000 after buying an additional 54 shares in the last quarter. Reliance Trust Co. of Delaware increased its stake in shares of Baxter International by 1.1% in the first quarter. Reliance Trust Co. of Delaware now owns 5,743 shares of the medical instruments supplier’s stock valued at $298,000 after buying an additional 63 shares in the last quarter. Finally, Clifford Swan Investment Counsel LLC increased its stake in shares of Baxter International by 0.4% in the first quarter. Clifford Swan Investment Counsel LLC now owns 15,204 shares of the medical instruments supplier’s stock valued at $788,000 after buying an additional 67 shares in the last quarter. Hedge funds and other institutional investors own 85.08% of the company’s stock.

Baxter International Inc. (NYSE:BAX) opened at 59.71 on Friday. Baxter International Inc. has a 12 month low of $43.13 and a 12 month high of $63.14. The stock’s 50 day moving average is $60.91 and its 200 day moving average is $55.26. The company has a market cap of $32.53 billion, a PE ratio of 36.23 and a beta of 0.66.

Baxter International (NYSE:BAX) last released its quarterly earnings results on Wednesday, July 26th. The medical instruments supplier reported $0.63 EPS for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.06. The firm had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.59 billion. Baxter International had a net margin of 8.85% and a return on equity of 14.82%. The company’s revenue for the quarter was up .8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.46 earnings per share. Equities analysts predict that Baxter International Inc. will post $2.39 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 1st will be given a dividend of $0.16 per share. The ex-dividend date is Wednesday, August 30th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.07%. Baxter International’s payout ratio is 38.79%.

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Several brokerages have recently weighed in on BAX. Royal Bank Of Canada raised their target price on Baxter International from $55.00 to $58.00 and gave the company a “sector perform” rating in a research note on Thursday, April 27th. BMO Capital Markets restated a “hold” rating and set a $55.00 target price on shares of Baxter International in a research note on Thursday, April 27th. Cantor Fitzgerald set a $70.00 target price on Baxter International and gave the company a “buy” rating in a research note on Wednesday, July 26th. Cowen and Company restated a “market perform” rating and set a $68.00 target price (up from $66.00) on shares of Baxter International in a research note on Thursday, July 27th. Finally, Leerink Swann restated an “outperform” rating and set a $75.00 target price (up from $67.00) on shares of Baxter International in a research note on Thursday, July 27th. One analyst has rated the stock with a sell rating, six have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $65.33.

In related news, Director Carole J. Shapazian sold 2,618 shares of the business’s stock in a transaction that occurred on Tuesday, May 23rd. The shares were sold at an average price of $57.92, for a total transaction of $151,634.56. Following the completion of the sale, the director now directly owns 9,848 shares of the company’s stock, valued at $570,396.16. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.05% of the stock is currently owned by corporate insiders.

About Baxter International

Baxter International Inc, through its subsidiaries, provides renal and hospital products. The Company operates through two segments: Hospital Products and Renal. Its Hospital Products business manufactures sterile intravenous (IV) solutions and administration sets, premixed drugs and drug-reconstitution systems, pre-filled vials and syringes for injectable drugs, IV nutrition products, parenteral nutrition therapies, infusion pumps, inhalation anesthetics and biosurgery products.

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

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