Private Trust Co. NA increased its position in shares of Baxter International Inc. (NYSE:BAX) by 25.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,104 shares of the medical instruments supplier’s stock after buying an additional 7,639 shares during the period. Private Trust Co. NA’s holdings in Baxter International were worth $2,246,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. bought a new stake in Baxter International during the first quarter worth about $365,000. Sivik Global Healthcare LLC bought a new stake in Baxter International during the first quarter worth about $5,705,000. Hermes Investment Management Ltd. increased its stake in Baxter International by 4,510.9% in the first quarter. Hermes Investment Management Ltd. now owns 882,074 shares of the medical instruments supplier’s stock worth $45,744,000 after buying an additional 862,944 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in Baxter International by 1.0% in the first quarter. Envestnet Asset Management Inc. now owns 268,759 shares of the medical instruments supplier’s stock worth $13,939,000 after buying an additional 2,564 shares in the last quarter. Finally, Veritas Asset Management LLP increased its stake in Baxter International by 3.5% in the first quarter. Veritas Asset Management LLP now owns 9,951,759 shares of the medical instruments supplier’s stock worth $516,098,000 after buying an additional 334,700 shares in the last quarter. 85.08% of the stock is currently owned by institutional investors and hedge funds.
Shares of Baxter International Inc. (NYSE:BAX) traded up 0.22% during midday trading on Friday, hitting $59.84. The stock had a trading volume of 2,213,852 shares. Baxter International Inc. has a 52 week low of $43.13 and a 52 week 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 company has a market cap 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 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.06. The company had revenue of $2.61 billion for the quarter, compared to analysts’ expectations of $2.59 billion. Baxter International had a net margin of 8.85% and a return on equity of 14.82%. The firm’s revenue was up .8% compared to the same quarter last year. During the same quarter last year, the company earned $0.46 EPS. On average, equities analysts forecast that Baxter International Inc. will post $2.39 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 1st will be given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date is Wednesday, August 30th. Baxter International’s payout ratio is presently 38.79%.
A number of analysts recently issued reports on BAX shares. Zacks Investment Research raised Baxter International from a “hold” rating to a “strong-buy” rating and set a $64.00 target price on the stock in a research report on Monday, May 1st. UBS AG boosted their price target on Baxter International from $57.00 to $62.00 and gave the stock a “neutral” rating in a research report on Friday, July 28th. Morgan Stanley boosted their price target on Baxter International from $48.00 to $52.00 and gave the stock an “underweight” rating in a research report on Friday, April 28th. Goldman Sachs Group, Inc. (The) reissued a “conviction-buy” rating and set a $71.00 price target on shares of Baxter International in a research report on Tuesday, May 16th. Finally, Barclays PLC boosted their price target on Baxter International from $64.00 to $70.00 and gave the stock an “overweight” rating in a research report on Thursday, July 27th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have given a buy rating and one has given 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 related news, Director Carole J. Shapazian sold 2,618 shares of Baxter International stock in a transaction 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 transaction, the director now owns 9,848 shares in the company, valued at approximately $570,396.16. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.05% of the stock is owned by company 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.
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