Private Trust Co. NA increased its stake in 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 (SEC). 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 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently made changes to their positions in BAX. Charter Trust Co. raised its position in shares of Baxter International by 10.5% in the first quarter. Charter Trust Co. now owns 22,637 shares of the medical instruments supplier’s stock valued at $1,174,000 after buying an additional 2,147 shares during the last quarter. Hills Bank & Trust Co. raised its position in shares of Baxter International by 3.5% in the first quarter. Hills Bank & Trust Co. now owns 12,146 shares of the medical instruments supplier’s stock valued at $630,000 after buying an additional 407 shares during the last quarter. Fulton Bank N.A. raised its position in shares of Baxter International by 6.4% in the first quarter. Fulton Bank N.A. now owns 4,980 shares of the medical instruments supplier’s stock valued at $258,000 after buying an additional 300 shares during the last quarter. Pure Financial Advisors Inc. raised its position in shares of 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 valued at $387,000 after buying an additional 22 shares during the last quarter. Finally, Pioneer Trust Bank N A OR bought a new position in shares of Baxter International during the first quarter valued at $232,000. Institutional investors and hedge funds own 84.29% of the company’s stock.
Shares of Baxter International Inc. (NYSE BAX) traded up 0.08% during mid-day trading on Friday, reaching $60.87. 2,308,236 shares of the company’s stock traded hands. The company has a market capitalization of $33.17 billion, a P/E ratio of 36.94 and a beta of 0.66. The firm has a 50-day moving average price of $60.89 and a 200-day moving average price of $55.87. Baxter International Inc. has a 1-year low of $43.13 and a 1-year high of $63.14.
Baxter International (NYSE:BAX) last released its quarterly earnings data on Wednesday, July 26th. The medical instruments supplier reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.06. The business had revenue of $2.61 billion for the quarter, compared to analysts’ expectations of $2.59 billion. Baxter International had a return on equity of 14.82% and a net margin of 8.85%. Baxter International’s quarterly revenue was up .8% on a year-over-year basis. During the same period in the previous year, the business posted $0.46 earnings per share. On average, equities research analysts forecast that Baxter International Inc. will post $2.39 earnings per share for the current fiscal 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 $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date is Wednesday, August 30th. Baxter International’s dividend payout ratio (DPR) is 38.79%.
Several brokerages have recently weighed in on BAX. Morgan Stanley reiterated an “underweight” rating and set a $55.00 price objective (up from $52.00) on shares of Baxter International in a report on Tuesday, July 25th. Citigroup Inc. assumed coverage on shares of Baxter International in a report on Thursday. They set a “neutral” rating and a $63.00 price objective on the stock. 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. Barclays PLC increased their target price on shares of Baxter International from $64.00 to $70.00 and gave the stock an “overweight” rating in a research report on Thursday, July 27th. Finally, BMO Capital Markets raised shares of Baxter International from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $55.00 to $70.00 in a research report on Tuesday, July 11th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $65.15.
In other Baxter International news, Director Carole J. Shapazian sold 2,618 shares of the company’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 directly owns 9,848 shares in the company, valued at $570,396.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Giuseppe Accogli sold 12,670 shares of the company’s stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $60.96, for a total value of $772,363.20. Following the completion of the sale, the senior vice president now owns 33,286 shares in the company, valued at $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.
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