Stonebridge Capital Advisors LLC Invests $204,000 in Baxter International Inc (BAX) Stock

Stonebridge Capital Advisors LLC acquired a new position in Baxter International Inc (NYSE:BAX) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,250 shares of the medical instruments supplier’s stock, valued at approximately $204,000.

A number of other institutional investors have also recently bought and sold shares of BAX. Toronto Dominion Bank increased its position in shares of Baxter International by 8.6% during the third quarter. Toronto Dominion Bank now owns 212,015 shares of the medical instruments supplier’s stock worth $13,304,000 after acquiring an additional 16,835 shares during the period. Johnson Financial Group Inc. increased its position in shares of Baxter International by 15.5% during the third quarter. Johnson Financial Group Inc. now owns 21,038 shares of the medical instruments supplier’s stock worth $1,320,000 after acquiring an additional 2,825 shares during the period. Bahl & Gaynor Inc. increased its position in shares of Baxter International by 24.8% during the second quarter. Bahl & Gaynor Inc. now owns 20,940 shares of the medical instruments supplier’s stock worth $928,000 after acquiring an additional 4,162 shares during the period. Veritas Asset Management LLP increased its position in shares of Baxter International by 2.3% during the second quarter. Veritas Asset Management LLP now owns 10,179,102 shares of the medical instruments supplier’s stock worth $616,243,000 after acquiring an additional 227,343 shares during the period. Finally, Canada Pension Plan Investment Board increased its position in shares of Baxter International by 35.8% during the third quarter. Canada Pension Plan Investment Board now owns 1,413,054 shares of the medical instruments supplier’s stock worth $88,669,000 after acquiring an additional 372,500 shares during the period. 84.18% of the stock is currently owned by institutional investors.

Baxter International Inc (NYSE BAX) opened at $64.31 on Wednesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.22 and a current ratio of 2.80. Baxter International Inc has a one year low of $43.81 and a one year high of $66.18. The stock has a market cap of $34,945.52, a P/E ratio of 26.50, a PEG ratio of 2.14 and a beta of 0.69.

Baxter International (NYSE:BAX) last released its quarterly earnings data on Wednesday, October 25th. The medical instruments supplier reported $0.64 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.05. Baxter International had a net margin of 9.88% and a return on equity of 15.00%. The firm had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.66 billion. During the same period last year, the firm earned $0.56 earnings per share. The company’s quarterly revenue was up 5.8% on a year-over-year basis. analysts predict that Baxter International Inc will post 2.43 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 1st will be paid a dividend of $0.16 per share. The ex-dividend date is Thursday, November 30th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.00%. Baxter International’s dividend payout ratio is presently 34.41%.

In other news, SVP Jeanne K. Mason sold 33,350 shares of the stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $65.25, for a total transaction of $2,176,087.50. Following the transaction, the senior vice president now directly owns 124,609 shares in the company, valued at $8,130,737.25. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Third Point Llc sold 5,000,000 shares of the stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $64.23, for a total transaction of $321,150,000.00. The disclosure for this sale can be found here. 0.05% of the stock is currently owned by company insiders.

A number of equities analysts have recently commented on BAX shares. Royal Bank of Canada reaffirmed a “hold” rating and set a $60.00 target price on shares of Baxter International in a research report on Friday, September 1st. Bank of America reaffirmed a “hold” rating on shares of Baxter International in a research report on Wednesday, November 22nd. Citigroup started coverage on shares of Baxter International in a research report on Thursday, August 17th. They set a “neutral” rating and a $63.00 target price on the stock. Zacks Investment Research raised shares of Baxter International from a “hold” rating to a “buy” rating and set a $69.00 target price on the stock in a research report on Tuesday, October 10th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $65.00 target price on shares of Baxter International in a research report on Thursday, October 26th. Seven analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. Baxter International currently has an average rating of “Buy” and a consensus target price of $67.46.

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Baxter International Company Profile

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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