First Citizens Bank & Trust Co. decreased its holdings in shares of Baxter International Inc (NYSE:BAX) by 22.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 48,040 shares of the medical instruments supplier’s stock after selling 14,301 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Baxter International were worth $3,105,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Grove Bank & Trust increased its stake in shares of Baxter International by 526.0% in the third quarter. Grove Bank & Trust now owns 2,285 shares of the medical instruments supplier’s stock valued at $143,000 after purchasing an additional 1,920 shares during the period. Acrospire Investment Management LLC increased its stake in shares of Baxter International by 71.3% in the second quarter. Acrospire Investment Management LLC now owns 2,402 shares of the medical instruments supplier’s stock valued at $145,000 after purchasing an additional 1,000 shares during the period. Steward Partners Investment Advisory LLC acquired a new stake in shares of Baxter International in the third quarter valued at approximately $175,000. Harvest Fund Management Co. Ltd increased its stake in shares of Baxter International by 8.4% in the second quarter. Harvest Fund Management Co. Ltd now owns 2,928 shares of the medical instruments supplier’s stock valued at $177,000 after purchasing an additional 226 shares during the period. Finally, Captrust Financial Advisors acquired a new stake in shares of Baxter International in the second quarter valued at approximately $188,000. Hedge funds and other institutional investors own 83.82% of the company’s stock.
In other news, SVP Jeanne K. Mason sold 33,350 shares of the firm’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $65.25, for a total transaction of $2,176,087.50. Following the transaction, the senior vice president now owns 124,609 shares in the company, valued at approximately $8,130,737.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Giuseppe Accogli sold 28,641 shares of the firm’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $67.00, for a total transaction of $1,918,947.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,061,991 shares of company stock valued at $325,245,035. Insiders own 0.05% of the company’s stock.
Baxter International Inc (NYSE BAX) traded up $0.55 during trading on Wednesday, reaching $68.22. 1,858,661 shares of the company were exchanged, compared to its average volume of 3,229,420. Baxter International Inc has a 1 year low of $45.47 and a 1 year high of $69.65. The company has a quick ratio of 2.22, a current ratio of 2.80 and a debt-to-equity ratio of 0.37. The firm has a market cap of $37,090.00, a price-to-earnings ratio of 36.87, a price-to-earnings-growth ratio of 2.05 and a beta of 0.69.
Baxter International (NYSE:BAX) last released its earnings results on Wednesday, October 25th. The medical instruments supplier reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.05. Baxter International had a net margin of 9.88% and a return on equity of 15.00%. The company had revenue of $2.71 billion during the quarter, compared to the consensus estimate of $2.66 billion. During the same quarter in the prior year, the firm earned $0.56 EPS. The company’s revenue was up 5.8% compared to the same quarter last year. equities analysts expect that Baxter International Inc will post 2.43 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Friday, December 1st were given a $0.16 dividend. The ex-dividend date of this dividend was Thursday, November 30th. This represents a $0.64 dividend on an annualized basis and a yield of 0.94%. Baxter International’s payout ratio is 34.59%.
Several equities research analysts have commented on the stock. Zacks Investment Research upgraded shares of Baxter International from a “sell” rating to a “hold” rating in a research note on Thursday, January 4th. Royal Bank of Canada reiterated a “hold” rating and issued a $60.00 price objective on shares of Baxter International in a report on Tuesday, October 3rd. Cowen set a $68.00 price objective on shares of Baxter International and gave the company a “hold” rating in a report on Sunday, October 15th. Bank of America upgraded shares of Baxter International from a “neutral” rating to a “buy” rating in a report on Tuesday, January 2nd. Finally, Evercore ISI started coverage on shares of Baxter International in a report on Wednesday, January 3rd. They issued an “outperform” rating and a $71.00 price objective for the company. Seven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. Baxter International currently has a consensus rating of “Buy” and an average target price of $68.64.
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About Baxter International
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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