Meeder Asset Management Inc. trimmed its holdings in Baxter International Inc (NYSE:BAX) by 60.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,790 shares of the medical instruments supplier’s stock after selling 67,721 shares during the quarter. Meeder Asset Management Inc.’s holdings in Baxter International were worth $3,561,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also modified their holdings of the company. Gantzert Investment Co. LLC ADV bought a new position in shares of Baxter International in the 4th quarter worth about $25,000. Parisi Gray Wealth Management bought a new position in shares of Baxter International in the 4th quarter worth about $26,000. Sontag Advisory LLC bought a new position in shares of Baxter International in the 4th quarter worth about $30,000. Baldwin Brothers Inc. MA increased its stake in shares of Baxter International by 904.0% in the 4th quarter. Baldwin Brothers Inc. MA now owns 502 shares of the medical instruments supplier’s stock worth $33,000 after acquiring an additional 452 shares in the last quarter. Finally, We Are One Seven LLC bought a new position in shares of Baxter International in the 4th quarter worth about $34,000. Institutional investors own 86.45% of the company’s stock.
In other news, Director Thomas T. Stallkamp sold 1,000 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $75.16, for a total value of $75,160.00. Following the transaction, the director now owns 6,780 shares in the company, valued at approximately $509,584.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Thomas T. Stallkamp sold 1,638 shares of the stock in a transaction that occurred on Friday, February 1st. The stock was sold at an average price of $73.75, for a total transaction of $120,802.50. The disclosure for this sale can be found here. Insiders sold a total of 98,286 shares of company stock worth $7,399,039 in the last quarter. Company insiders own 0.70% of the company’s stock.
Baxter International (NYSE:BAX) last issued its quarterly earnings data on Thursday, January 31st. The medical instruments supplier reported $0.78 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.05. Baxter International had a net margin of 14.60% and a return on equity of 19.10%. The firm had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $2.80 billion. As a group, equities research analysts anticipate that Baxter International Inc will post 3.27 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 1st were paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 0.98%. The ex-dividend date of this dividend was Thursday, February 28th. Baxter International’s dividend payout ratio (DPR) is presently 24.92%.
BAX has been the subject of several research reports. Zacks Investment Research upgraded shares of Baxter International from a “hold” rating to a “buy” rating and set a $74.00 price target for the company in a research note on Wednesday, January 2nd. Citigroup raised shares of Baxter International from a “neutral” rating to a “buy” rating and increased their price objective for the company from $69.00 to $76.00 in a research report on Wednesday, January 2nd. Barclays raised shares of Baxter International from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $67.00 to $72.00 in a research report on Friday, February 1st. Credit Suisse Group started coverage on shares of Baxter International in a research report on Monday, December 17th. They set an “outperform” rating and a $77.00 price objective on the stock. Finally, Wells Fargo & Co increased their price objective on shares of Baxter International from $80.00 to $89.00 and gave the company an “outperform” rating in a research report on Wednesday, April 3rd. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Baxter International has a consensus rating of “Buy” and a consensus target price of $78.31.
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Baxter International Company Profile
Baxter International Inc, through its subsidiaries, develops and provides a portfolio of healthcare products. The company operates through North and South America; Europe, Middle East and Africa; and Asia-Pacific segments. The company 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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