HM Payson & Co. cut its holdings in shares of Baxter International Inc (NYSE:BAX) by 4.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 51,180 shares of the medical instruments supplier’s stock after selling 2,262 shares during the period. HM Payson & Co.’s holdings in Baxter International were worth $3,945,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. First Hawaiian Bank purchased a new position in Baxter International during the third quarter worth about $1,639,000. Retirement Systems of Alabama boosted its holdings in Baxter International by 35.0% during the third quarter. Retirement Systems of Alabama now owns 312,010 shares of the medical instruments supplier’s stock worth $24,053,000 after purchasing an additional 80,919 shares during the last quarter. Natixis boosted its holdings in Baxter International by 62.5% during the second quarter. Natixis now owns 716,411 shares of the medical instruments supplier’s stock worth $52,900,000 after purchasing an additional 275,452 shares during the last quarter. AMP Capital Investors Ltd boosted its holdings in Baxter International by 1.5% during the second quarter. AMP Capital Investors Ltd now owns 267,439 shares of the medical instruments supplier’s stock worth $19,749,000 after purchasing an additional 3,839 shares during the last quarter. Finally, Gulf International Bank UK Ltd boosted its holdings in Baxter International by 2.5% during the third quarter. Gulf International Bank UK Ltd now owns 168,277 shares of the medical instruments supplier’s stock worth $12,972,000 after purchasing an additional 4,175 shares during the last quarter. 81.96% of the stock is owned by institutional investors.
Several research analysts recently weighed in on BAX shares. Argus upgraded shares of Baxter International from a “hold” rating to a “buy” rating and set a $70.00 price target on the stock in a report on Friday, November 2nd. Zacks Investment Research upgraded shares of Baxter International from a “hold” rating to a “buy” rating and set a $87.00 price target on the stock in a report on Tuesday, September 25th. ValuEngine upgraded shares of Baxter International from a “hold” rating to a “buy” rating in a report on Thursday, November 15th. UBS Group started coverage on shares of Baxter International in a report on Tuesday. They set a “buy” rating and a $80.00 price target on the stock. Finally, Citigroup cut their price target on shares of Baxter International from $76.00 to $69.00 and set a “neutral” rating on the stock in a report on Tuesday, November 13th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $74.18.
BAX opened at $68.55 on Friday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.96 and a current ratio of 2.60. The stock has a market capitalization of $36.20 billion, a price-to-earnings ratio of 27.64, a P/E/G ratio of 1.83 and a beta of 1.02. Baxter International Inc has a twelve month low of $61.05 and a twelve month high of $78.38.
Baxter International (NYSE:BAX) last released its earnings results on Wednesday, October 31st. The medical instruments supplier reported $0.80 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.74 by $0.06. The firm had revenue of $2.77 billion for the quarter, compared to analysts’ expectations of $2.79 billion. Baxter International had a net margin of 10.90% and a return on equity of 17.67%. The company’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.64 earnings per share. As a group, research analysts anticipate that Baxter International Inc will post 3 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 2nd. Shareholders of record on Monday, December 3rd will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date of this dividend is Friday, November 30th. Baxter International’s payout ratio is 30.65%.
Baxter International announced that its Board of Directors has initiated a share repurchase plan on Tuesday, November 13th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the medical instruments supplier to reacquire up to 6.1% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.
Baxter International 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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