Point72 Asset Management L.P. acquired a new stake in Baxter International Inc. (NYSE:BAX) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 633,448 shares of the medical instruments supplier’s stock, valued at approximately $32,851,000. Point72 Asset Management L.P. owned about 0.12% of Baxter International at the end of the most recent quarter.
Several other large investors have also added to or reduced their stakes in the company. Thrivent Financial for Lutherans increased its position in shares of Baxter International by 6.2% in the fourth quarter. Thrivent Financial for Lutherans now owns 17,301 shares of the medical instruments supplier’s stock valued at $768,000 after buying an additional 1,010 shares during the last quarter. Perigon Wealth Management LLC increased its position in shares of Baxter International by 9.2% in the fourth quarter. Perigon Wealth Management LLC now owns 13,022 shares of the medical instruments supplier’s stock valued at $663,000 after buying an additional 1,102 shares during the last quarter. USA Financial Portformulas Corp purchased a new position in shares of Baxter International during the fourth quarter valued at $615,000. Teachers Advisors LLC increased its position in shares of Baxter International by 11.0% in the fourth quarter. Teachers Advisors LLC now owns 1,350,276 shares of the medical instruments supplier’s stock valued at $59,871,000 after buying an additional 133,830 shares during the last quarter. Finally, Kentucky Retirement Systems bought a new position in Baxter International during the fourth quarter worth approximately $1,575,000. Institutional investors and hedge funds own 85.08% of the company’s stock.
Baxter International Inc. (BAX) opened at 59.84 on Friday. Baxter International Inc. has a one year low of $43.13 and a one year high of $63.14. The stock’s 50 day moving average price is $60.89 and its 200-day moving average price is $55.35. The firm has a market capitalization of $32.61 billion, a price-to-earnings ratio of 36.31 and a beta of 0.66.
Baxter International (NYSE:BAX) last issued its earnings results on Wednesday, July 26th. The medical instruments supplier reported $0.63 earnings per share 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 the consensus estimate of $2.59 billion. Baxter International had a return on equity of 14.82% and a net margin of 8.85%. The company’s revenue was up .8% compared to the same quarter last year. During the same quarter last year, the business posted $0.46 EPS. On average, equities research analysts anticipate that Baxter International Inc. will post $2.39 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 1st will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date is Wednesday, August 30th. Baxter International’s dividend payout ratio is presently 38.79%.
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A number of research firms have recently commented on BAX. Leerink Swann reaffirmed an “outperform” rating and set a $75.00 price objective (up previously from $67.00) on shares of Baxter International in a research note on Thursday, July 27th. Cowen and Company reissued a “market perform” rating and set a $68.00 target price (up previously from $66.00) on shares of Baxter International in a research report on Thursday, July 27th. Cantor Fitzgerald set a $70.00 target price on shares of Baxter International and gave the stock a “buy” rating in a research report on Wednesday, July 26th. UBS AG upped their price target on Baxter International from $57.00 to $62.00 and gave the stock a “neutral” rating in a report on Friday, July 28th. Finally, Zacks Investment Research cut Baxter International from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. One investment analyst has rated the stock with a sell rating, six have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Baxter International currently has a consensus rating of “Buy” and a consensus price target of $65.33.
In other Baxter International news, Director Carole J. Shapazian sold 2,618 shares of the firm’s stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $57.92, for a total value of $151,634.56. Following the sale, the director now owns 9,848 shares of the company’s stock, valued at approximately $570,396.16. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.05% of the company’s stock.
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.
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