Highlander Capital Management LLC held its stake in shares of Baxter International Inc. (NYSE:BAX) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,650 shares of the medical instruments supplier’s stock at the close of the 2nd quarter. Highlander Capital Management LLC’s holdings in Baxter International were worth $160,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also modified their holdings of the company. BlackRock Inc. grew its holdings in shares of Baxter International by 1,941.1% in the 1st quarter. BlackRock Inc. now owns 46,937,709 shares of the medical instruments supplier’s stock valued at $2,434,190,000 after buying an additional 44,638,052 shares during the period. Bessemer Group Inc. boosted its stake in Baxter International by 42,907.2% in the 2nd quarter. Bessemer Group Inc. now owns 4,652,950 shares of the medical instruments supplier’s stock worth $281,690,000 after purchasing an additional 4,642,131 shares during the period. Renaissance Technologies LLC boosted its stake in Baxter International by 2,859.6% in the 1st quarter. Renaissance Technologies LLC now owns 1,897,115 shares of the medical instruments supplier’s stock worth $98,384,000 after purchasing an additional 1,833,015 shares during the period. Victory Capital Management Inc. boosted its stake in Baxter International by 438.8% in the 1st quarter. Victory Capital Management Inc. now owns 1,968,222 shares of the medical instruments supplier’s stock worth $102,072,000 after purchasing an additional 1,602,894 shares during the period. Finally, FMR LLC boosted its stake in Baxter International by 83.1% in the 1st quarter. FMR LLC now owns 3,225,482 shares of the medical instruments supplier’s stock worth $167,273,000 after purchasing an additional 1,463,443 shares during the period. Institutional investors own 83.62% of the company’s stock.
In related news, Director Carole J. Shapazian sold 4,020 shares of the business’s stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $61.61, for a total transaction of $247,672.20. Following the transaction, the director now directly owns 13,868 shares in the company, valued at $854,407.48. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Thomas T. Stallkamp sold 8,920 shares of the business’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $62.28, for a total transaction of $555,537.60. Following the transaction, the director now owns 16,263 shares in the company, valued at $1,012,859.64. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 35,050 shares of company stock worth $2,158,587. 0.05% of the stock is owned by corporate insiders.
BAX has been the subject of a number of research analyst reports. BidaskClub lowered shares of Baxter International from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Cantor Fitzgerald set a $70.00 target price on shares of Baxter International and gave the stock a “buy” rating in a research note on Wednesday, July 26th. Zacks Investment Research raised shares of Baxter International from a “hold” rating to a “buy” rating and set a $69.00 target price for the company in a research note on Tuesday. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $60.00 target price on shares of Baxter International in a research note on Friday, September 1st. Finally, Cowen and Company reaffirmed a “market perform” rating and issued a $66.00 target price (up from $57.00) on shares of Baxter International in a research note on Monday, July 10th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. Baxter International has an average rating of “Buy” and a consensus price target of $65.69.
Shares of Baxter International Inc. (BAX) traded up 0.31% during midday trading on Wednesday, hitting $61.90. 246,177 shares of the stock were exchanged. The firm’s 50 day moving average is $62.78 and its 200-day moving average is $59.18. The stock has a market capitalization of $33.73 billion, a price-to-earnings ratio of 35.78 and a beta of 0.65. Baxter International Inc. has a 1-year low of $43.13 and a 1-year high of $64.75.
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. Baxter International had a net margin of 8.85% and a return on equity of 14.82%. The business had revenue of $2.61 billion for the quarter, compared to analysts’ expectations of $2.59 billion. During the same period in the previous year, the company earned $0.46 earnings per share. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. On average, analysts predict that Baxter International Inc. will post $2.39 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Friday, September 1st were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.04%. The ex-dividend date of this dividend was Wednesday, August 30th. Baxter International’s dividend payout ratio (DPR) is presently 38.79%.
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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