Olstein Capital Management L.P. Has $3.36 Million Stake in Baxter International Inc (NYSE:BAX)

Olstein Capital Management L.P. decreased its holdings in Baxter International Inc (NYSE:BAX) by 2.4% during the second quarter, Holdings Channel.com reports. The firm owned 41,000 shares of the medical instruments supplier’s stock after selling 1,000 shares during the period. Olstein Capital Management L.P.’s holdings in Baxter International were worth $3,358,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. SeaCrest Wealth Management LLC increased its position in shares of Baxter International by 2.0% during the 2nd quarter. SeaCrest Wealth Management LLC now owns 6,117 shares of the medical instruments supplier’s stock worth $501,000 after purchasing an additional 122 shares during the last quarter. Boston Private Wealth LLC increased its stake in shares of Baxter International by 1.8% in the second quarter. Boston Private Wealth LLC now owns 7,346 shares of the medical instruments supplier’s stock valued at $602,000 after buying an additional 129 shares during the period. Brookstone Capital Management increased its stake in shares of Baxter International by 4.0% in the second quarter. Brookstone Capital Management now owns 3,422 shares of the medical instruments supplier’s stock valued at $280,000 after buying an additional 131 shares during the period. Horrell Capital Management Inc. increased its stake in shares of Baxter International by 0.4% in the first quarter. Horrell Capital Management Inc. now owns 31,167 shares of the medical instruments supplier’s stock valued at $2,534,000 after buying an additional 138 shares during the period. Finally, Cornerstone Advisors Inc. increased its stake in shares of Baxter International by 5.1% in the second quarter. Cornerstone Advisors Inc. now owns 2,856 shares of the medical instruments supplier’s stock valued at $234,000 after buying an additional 139 shares during the period. Institutional investors own 83.78% of the company’s stock.

BAX has been the subject of several recent research reports. Raymond James increased their price target on Baxter International from $84.00 to $95.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Credit Suisse Group increased their price target on Baxter International from $84.00 to $95.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. BMO Capital Markets increased their price target on Baxter International to $95.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Barclays set a $82.00 price target on Baxter International and gave the company a “hold” rating in a research note on Friday, July 26th. Finally, Cowen set a $75.00 target price on Baxter International and gave the company a “hold” rating in a research report on Monday, April 22nd. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $85.27.

In other news, Director John D. Forsyth sold 1,320 shares of the stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $78.21, for a total value of $103,237.20. Following the completion of the sale, the director now directly owns 32,779 shares of the company’s stock, valued at $2,563,645.59. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Third Point Llc sold 5,000,000 shares of the stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $76.37, for a total value of $381,850,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,001,913 shares of company stock worth $382,000,950. Corporate insiders own 0.70% of the company’s stock.

Shares of Baxter International stock traded down $0.48 on Monday, hitting $85.49. 67,467 shares of the company’s stock traded hands, compared to its average volume of 2,308,838. Baxter International Inc has a one year low of $61.05 and a one year high of $86.68. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.78 and a quick ratio of 2.10. The firm’s fifty day moving average price is $82.99. The company has a market cap of $43.78 billion, a P/E ratio of 28.01, a price-to-earnings-growth ratio of 1.99 and a beta of 1.00.

Baxter International (NYSE:BAX) last announced its earnings results on Thursday, July 25th. The medical instruments supplier reported $0.89 EPS for the quarter, beating the consensus estimate of $0.81 by $0.08. The company had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.80 billion. Baxter International had a return on equity of 21.21% and a net margin of 14.28%. The firm’s revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.77 EPS. As a group, analysts expect that Baxter International Inc will post 3.37 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, August 30th will be issued a $0.22 dividend. The ex-dividend date is Thursday, August 29th. This represents a $0.88 annualized dividend and a yield of 1.03%. Baxter International’s payout ratio is currently 28.85%.

About Baxter International

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

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