Point72 Asset Management L.P. Takes Position in Baxter International Inc. (NYSE:BAX)

Point72 Asset Management L.P. acquired a new position in shares of Baxter International Inc. (NYSE:BAX) during the first quarter, according to its most recent Form 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 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of BAX. Pure Financial Advisors Inc. boosted its stake in Baxter International by 0.3% in the first quarter. Pure Financial Advisors Inc. now owns 7,459 shares of the medical instruments supplier’s stock worth $387,000 after buying an additional 22 shares during the period. Quadrant Capital Group LLC boosted 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. Dumont & Blake Investment Advisors LLC boosted its stake in 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 worth $663,000 after buying an additional 40 shares during the period. Livingston Group Asset Management CO operating as Southport Capital Management boosted its stake in 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 worth $938,000 after buying an additional 54 shares during the period. Finally, Reliance Trust Co. of Delaware boosted its stake in 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 worth $298,000 after buying an additional 63 shares during the period. Institutional investors and hedge funds own 84.29% of the company’s stock.

Baxter International Inc. (NYSE BAX) traded up 0.08% during trading on Friday, reaching $60.87. The company’s stock had a trading volume of 2,308,236 shares. Baxter International Inc. has a 52 week low of $43.13 and a 52 week high of $63.14. The company has a 50 day moving average price of $60.89 and a 200-day moving average price of $55.87. The company has a market capitalization of $33.17 billion, a PE ratio of 36.94 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 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.06. The company had revenue of $2.61 billion during 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%. Baxter International’s revenue was up .8% compared to the same quarter last year. During the same quarter last year, the business posted $0.46 earnings per share. Equities research analysts anticipate that Baxter International Inc. will post $2.39 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 1st will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.05%. The ex-dividend date is Wednesday, August 30th. Baxter International’s payout ratio is 38.79%.

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A number of analysts have recently commented on the company. Citigroup Inc. assumed coverage on Baxter International in a research report on Thursday. They issued 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 issued a $55.00 price objective on shares of Baxter International in a research report on Thursday, April 27th. Cantor Fitzgerald set a $70.00 price objective on Baxter International and gave the company a “buy” rating in a research report on Wednesday, July 26th. Finally, Cowen and Company restated a “market perform” rating and issued a $68.00 price objective (up from $66.00) on shares of Baxter International in a research report on Thursday, July 27th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $65.15.

In other Baxter International news, 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 transaction of $772,363.20. Following the completion of the transaction, the senior vice president now owns 33,286 shares of the company’s stock, valued at $2,029,114.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction, the director now directly owns 9,848 shares of the company’s stock, valued at approximately $570,396.16. The disclosure for this sale can be found here. 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.

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

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