Kovitz Investment Group Partners LLC Has $201,000 Holdings in Baxter International Inc (BAX)

Kovitz Investment Group Partners LLC decreased its stake in shares of Baxter International Inc (NYSE:BAX) by 22.5% during the 1st quarter, Holdings Channel reports. The firm owned 3,093 shares of the medical instruments supplier’s stock after selling 900 shares during the quarter. Kovitz Investment Group Partners LLC’s holdings in Baxter International were worth $201,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Maverick Capital Ltd. lifted its position in shares of Baxter International by 91.4% during the fourth quarter. Maverick Capital Ltd. now owns 108,210 shares of the medical instruments supplier’s stock worth $6,995,000 after purchasing an additional 51,670 shares during the last quarter. BancorpSouth Bank bought a new position in shares of Baxter International during the fourth quarter worth about $693,000. FDx Advisors Inc. lifted its position in shares of Baxter International by 13.2% during the fourth quarter. FDx Advisors Inc. now owns 39,633 shares of the medical instruments supplier’s stock worth $2,562,000 after purchasing an additional 4,636 shares during the last quarter. Quadrature Capital Ltd bought a new position in shares of Baxter International during the fourth quarter worth about $1,815,000. Finally, 180 Wealth Advisors LLC bought a new position in shares of Baxter International during the fourth quarter worth about $480,000. 83.53% of the stock is currently owned by institutional investors and hedge funds.

In other Baxter International news, Director James R. Gavin III sold 18,750 shares of the firm’s stock in a transaction that occurred on Wednesday, March 28th. The shares were sold at an average price of $64.56, for a total value of $1,210,500.00. Following the sale, the director now owns 36,398 shares in the company, valued at $2,349,854.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Brik V. Eyre sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 15th. The shares were sold at an average price of $70.57, for a total transaction of $1,411,400.00. Following the completion of the sale, the senior vice president now owns 85,115 shares in the company, valued at approximately $6,006,565.55. The disclosure for this sale can be found here. Insiders sold 74,104 shares of company stock worth $5,137,706 in the last 90 days. 0.07% of the stock is owned by company insiders.

Several equities analysts have recently commented on the stock. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $77.00 price target on shares of Baxter International in a research report on Thursday, May 31st. Stifel Nicolaus increased their price target on shares of Baxter International from $71.00 to $72.00 and gave the stock a “hold” rating in a research report on Monday, April 30th. Zacks Investment Research cut shares of Baxter International from a “buy” rating to a “hold” rating in a research report on Wednesday, May 16th. Deutsche Bank raised shares of Baxter International from a “hold” rating to a “buy” rating and set a $80.00 price target on the stock in a research report on Tuesday, February 20th. Finally, ValuEngine raised shares of Baxter International from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. Seven investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $73.25.

Shares of NYSE:BAX opened at $74.58 on Thursday. Baxter International Inc has a 52 week low of $57.32 and a 52 week high of $75.62. The company has a market capitalization of $40.26 billion, a price-to-earnings ratio of 30.07, a PEG ratio of 1.94 and a beta of 0.81. The company has a current ratio of 2.63, a quick ratio of 2.03 and a debt-to-equity ratio of 0.39.

Baxter International (NYSE:BAX) last announced its quarterly earnings results on Thursday, April 26th. The medical instruments supplier reported $0.70 EPS for the quarter, beating the consensus estimate of $0.62 by $0.08. Baxter International had a net margin of 7.75% and a return on equity of 15.70%. The company had revenue of $2.68 billion for the quarter, compared to analyst estimates of $2.62 billion. During the same quarter last year, the business earned $0.58 earnings per share. Baxter International’s revenue was up 8.2% compared to the same quarter last year. sell-side analysts predict that Baxter International Inc will post 2.89 EPS for the current year.

Baxter International announced that its Board of Directors has approved a stock repurchase plan on Tuesday, February 20th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the medical instruments supplier to reacquire shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

The company also recently declared a quarterly dividend, which will be paid on Monday, July 2nd. Shareholders of record on Friday, June 1st will be paid a $0.19 dividend. The ex-dividend date of this dividend is Thursday, May 31st. This represents a $0.76 annualized dividend and a dividend yield of 1.02%. This is a positive change from Baxter International’s previous quarterly dividend of $0.16. Baxter International’s dividend payout ratio (DPR) is presently 30.65%.

Baxter International Company Profile

Baxter International Inc provides a portfolio of healthcare products. The company operates through North and South America; Europe, Middle East and Africa; and Asia-Pacific segments. It offers peritoneal dialysis and hemodialysis, and additional dialysis therapies and services; renal replacement therapies and other organ support therapies focused in the intensive care unit; sterile intravenous (IV) solutions, IV therapies, infusion pumps, administration sets, and drug reconstitution devices; and parenteral nutrition therapies.

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

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