First City Capital Management Inc. Acquires Shares of 4,046 Baxter International Inc. (NYSE:BAX)

First City Capital Management Inc. bought a new stake in Baxter International Inc. (NYSE:BAX) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 4,046 shares of the medical instruments supplier’s stock, valued at approximately $210,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Reilly Financial Advisors LLC raised its position 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 in the last quarter. Quadrant Capital Group LLC raised its position 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 in the last quarter. Benjamin F. Edwards & Company Inc. raised its position 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 in the last quarter. Bronfman E.L. Rothschild L.P. raised its position 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 in the last quarter. Finally, Trust Co. of Vermont raised its position 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 in the last quarter. Institutional investors own 84.29% of the company’s stock.

Baxter International Inc. (NYSE:BAX) traded up 0.08% during mid-day trading on Friday, hitting $60.87. The stock had a trading volume of 2,308,236 shares. The stock has a 50 day moving average of $60.89 and a 200-day moving average of $55.87. The firm has a market cap of $33.17 billion, a P/E ratio of 36.94 and a beta of 0.66. Baxter International Inc. has a 1-year low of $43.13 and a 1-year high of $63.14.

Baxter International (NYSE:BAX) last posted its quarterly 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 company 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 firm’s quarterly revenue was up .8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.46 EPS. Analysts predict that Baxter International Inc. will post $2.39 EPS for the current fiscal year.

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date of this dividend is Wednesday, August 30th. Baxter International’s dividend payout ratio (DPR) is currently 38.79%.

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A number of research firms recently issued reports on BAX. Citigroup Inc. began coverage on Baxter International in a research report on Thursday. They set a “neutral” rating and a $63.00 price objective for the company. Royal Bank Of Canada boosted their price objective on Baxter International from $55.00 to $58.00 and gave the company a “sector perform” rating in a research report on Thursday, April 27th. BMO Capital Markets restated a “hold” rating and set a $55.00 price objective on shares of Baxter International in a research report 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. Finally, Cowen and Company reaffirmed a “market perform” rating and set a $68.00 target price (up previously from $66.00) on shares of Baxter International in a research note on Thursday, July 27th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $65.15.

In related 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 transaction 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 Securities & Exchange Commission, which is accessible through this link. Also, SVP Giuseppe Accogli sold 12,670 shares of the firm’s stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $60.96, for a total value of $772,363.20. Following the sale, the senior vice president now directly owns 33,286 shares in the company, valued at approximately $2,029,114.56. The disclosure for this sale can be found here. Corporate 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.

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

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