First Citizens Bank & Trust Co. Has $3.11 Million Stake in Baxter International Inc (BAX)

First Citizens Bank & Trust Co. trimmed its stake in Baxter International Inc (NYSE:BAX) by 22.9% in the 4th quarter, Holdings Channel reports. The firm owned 48,040 shares of the medical instruments supplier’s stock after selling 14,301 shares during the period. First Citizens Bank & Trust Co.’s holdings in Baxter International were worth $3,105,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Colony Group LLC bought a new stake in shares of Baxter International during the 3rd quarter worth approximately $6,966,000. Toronto Dominion Bank lifted its stake in shares of Baxter International by 8.6% during the 3rd 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 last quarter. Johnson Financial Group Inc. lifted its stake in shares of Baxter International by 15.5% during the 3rd 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 last quarter. Bahl & Gaynor Inc. lifted its stake in shares of Baxter International by 24.8% during the 2nd 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 last quarter. Finally, Canada Pension Plan Investment Board lifted its stake in shares of Baxter International by 35.8% during the 3rd 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 last quarter. 83.78% of the stock is owned by institutional investors and hedge funds.

In other news, SVP Jeanne K. Mason sold 33,350 shares of Baxter International stock in a transaction on Monday, December 4th. The stock was sold at an average price of $65.25, for a total value of $2,176,087.50. Following the transaction, the senior vice president now directly owns 124,609 shares in the company, valued at approximately $8,130,737.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Third Point Llc sold 5,000,000 shares of Baxter International stock in a transaction on Monday, November 6th. The shares were sold at an average price of $64.23, for a total value of $321,150,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 5,061,991 shares of company stock worth $325,245,035 over the last 90 days. 0.05% of the stock is currently owned by company insiders.

BAX has been the subject of a number of research analyst reports. Zacks Investment Research raised Baxter International from a “hold” rating to a “buy” rating and set a $72.00 price target for the company in a research note on Tuesday, October 24th. Royal Bank of Canada reissued a “hold” rating and set a $66.00 price target on shares of Baxter International in a research note on Wednesday, November 22nd. Bank of America reissued a “hold” rating on shares of Baxter International in a research note on Wednesday, November 22nd. Morgan Stanley raised their price target on Baxter International from $59.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 26th. Finally, Cowen reissued a “neutral” rating on shares of Baxter International in a research note on Friday, October 13th. Seven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. Baxter International has an average rating of “Buy” and an average price target of $68.64.

Baxter International Inc (NYSE BAX) traded up $0.10 on Wednesday, reaching $69.38. The company’s stock had a trading volume of 3,141,700 shares, compared to its average volume of 3,582,717. The stock has a market cap of $37,290.00, a P/E ratio of 37.50, a P/E/G ratio of 2.08 and a beta of 0.69. Baxter International Inc has a one year low of $45.47 and a one year high of $69.65. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.80 and a quick ratio of 2.22.

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

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Friday, December 1st were issued a dividend of $0.16 per share. The ex-dividend date was Thursday, November 30th. This represents a $0.64 annualized dividend and a yield of 0.92%. Baxter International’s payout ratio is currently 34.59%.

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Baxter International 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.

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

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