First City Capital Management Inc. bought a new position in Baxter International Inc. (NYSE:BAX) during the first quarter, according to its most recent filing with the SEC. The institutional investor bought 4,046 shares of the medical instruments supplier’s stock, valued at approximately $210,000.
Several other hedge funds have also bought and sold shares of BAX. Reilly Financial Advisors LLC increased its stake in Baxter International by 20.4% in the first quarter. Reilly Financial Advisors LLC now owns 2,054 shares of the medical instruments supplier’s stock worth $107,000 after buying an additional 348 shares during the period. Quadrant Capital Group LLC increased its stake in 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 worth $113,000 after buying an additional 31 shares during the period. Benjamin F. Edwards & Company Inc. increased its stake in Baxter International by 6.1% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 2,533 shares of the medical instruments supplier’s stock worth $131,000 after buying an additional 145 shares during the period. Bronfman E.L. Rothschild L.P. increased its stake in Baxter International by 3.9% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,776 shares of the medical instruments supplier’s stock worth $144,000 after buying an additional 103 shares during the period. Finally, Trust Co. of Vermont increased its stake in Baxter International by 8.7% in the first quarter. Trust Co. of Vermont now owns 3,282 shares of the medical instruments supplier’s stock worth $170,000 after buying an additional 262 shares during the period. Hedge funds and other institutional investors own 85.08% of the company’s stock.
Shares of Baxter International Inc. (NYSE:BAX) opened at 59.84 on Friday. The stock has a market capitalization of $32.61 billion, a PE ratio of 36.31 and a beta of 0.66. The firm has a 50-day moving average of $60.89 and a 200 day moving average of $55.35. Baxter International Inc. has a 52-week low of $43.13 and a 52-week high of $63.14.
Baxter International (NYSE:BAX) last posted its quarterly earnings data on Wednesday, July 26th. The medical instruments supplier reported $0.63 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.06. Baxter International had a net margin of 8.85% and a return on equity of 14.82%. The business had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.59 billion. During the same quarter last year, the firm posted $0.46 earnings per share. The business’s revenue for the quarter was up .8% compared to the same quarter last year. Equities research analysts forecast that Baxter International Inc. will post $2.39 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 1st will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.07%. The ex-dividend date of this dividend is Wednesday, August 30th. Baxter International’s payout ratio is 38.79%.
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A number of analysts have recently weighed in on BAX shares. Cantor Fitzgerald set a $70.00 target price on shares of Baxter International and gave the stock a “buy” rating in a report on Wednesday, July 26th. BidaskClub cut shares of Baxter International from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Goldman Sachs Group, Inc. (The) reaffirmed a “conviction-buy” rating and set a $71.00 price target on shares of Baxter International in a research note on Tuesday, May 16th. Stifel Nicolaus lifted their price target on shares of Baxter International from $58.00 to $61.00 and gave the stock a “hold” rating in a research note on Wednesday, May 31st. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $55.00 price target on shares of Baxter International in a research note on Thursday, April 27th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Baxter International currently has a consensus rating of “Buy” and a consensus price target of $65.33.
In other news, Director Carole J. Shapazian sold 2,618 shares of the firm’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 value of $151,634.56. Following the completion of the transaction, the director now 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 the SEC website. Company insiders own 0.05% of the company’s stock.
Baxter International Company Profile
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.
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