Bartlett & Co. LLC decreased its holdings in Baxter International Inc (NYSE:BAX) by 2.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 555,623 shares of the medical instruments supplier’s stock after selling 15,356 shares during the period. Baxter International comprises approximately 1.4% of Bartlett & Co. LLC’s holdings, making the stock its 22nd largest holding. Bartlett & Co. LLC owned approximately 0.10% of Baxter International worth $35,915,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in BAX. Parametric Portfolio Associates LLC increased its stake in Baxter International by 71.1% in the second quarter. Parametric Portfolio Associates LLC now owns 1,632,846 shares of the medical instruments supplier’s stock worth $98,852,000 after purchasing an additional 678,429 shares during the period. Acadian Asset Management LLC increased its stake in Baxter International by 156.7% in the fourth quarter. Acadian Asset Management LLC now owns 657,855 shares of the medical instruments supplier’s stock worth $42,523,000 after purchasing an additional 401,532 shares during the period. Canada Pension Plan Investment Board increased its stake in Baxter International by 35.8% in the third quarter. Canada Pension Plan Investment Board now owns 1,413,054 shares of the medical instruments supplier’s stock worth $88,669,000 after purchasing an additional 372,500 shares during the period. Segall Bryant & Hamill LLC increased its stake in Baxter International by 209.0% in the third quarter. Segall Bryant & Hamill LLC now owns 412,054 shares of the medical instruments supplier’s stock worth $25,856,000 after purchasing an additional 278,685 shares during the period. Finally, Nordea Investment Management AB increased its stake in Baxter International by 619.2% in the third quarter. Nordea Investment Management AB now owns 188,842 shares of the medical instruments supplier’s stock worth $11,850,000 after purchasing an additional 162,584 shares during the period. Institutional investors and hedge funds own 83.82% of the company’s stock.
In related news, SVP Giuseppe Accogli sold 28,641 shares of the firm’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $67.00, for a total transaction of $1,918,947.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Jeanne K. Mason sold 33,350 shares of the firm’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $65.25, for a total value of $2,176,087.50. Following the sale, the senior vice president now directly owns 124,609 shares in the company, valued at approximately $8,130,737.25. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,061,991 shares of company stock worth $325,245,035. 0.05% of the stock is owned by corporate insiders.
A number of research firms have weighed in on BAX. Royal Bank of Canada reiterated a “hold” rating and issued a $66.00 target price on shares of Baxter International in a research note on Wednesday, November 22nd. Morgan Stanley increased their price target on Baxter International from $59.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 26th. Zacks Investment Research downgraded Baxter International from a “buy” rating to a “hold” rating in a research report on Monday, October 16th. Cowen reissued a “neutral” rating on shares of Baxter International in a research report on Friday, October 13th. Finally, BMO Capital Markets reissued a “buy” rating and set a $70.00 price target on shares of Baxter International in a research report on Friday, October 13th. Seven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $68.64.
Baxter International Inc (BAX) traded up $1.00 on Friday, hitting $69.20. The stock had a trading volume of 4,383,000 shares, compared to its average volume of 3,319,092. Baxter International Inc has a fifty-two week low of $45.47 and a fifty-two week 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 company has a market cap of $38,140.00, a P/E ratio of 37.41, a price-to-earnings-growth ratio of 2.05 and a beta of 0.69.
Baxter International (NYSE:BAX) last posted its quarterly 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 return on equity of 15.00% and a net margin of 9.88%. The business had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.66 billion. During the same quarter in the prior year, the company earned $0.56 EPS. The business’s revenue was up 5.8% compared to the same quarter last year. equities analysts forecast that Baxter International Inc will post 2.43 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 2nd. Investors of record on Friday, December 1st were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date was Thursday, November 30th. Baxter International’s payout ratio is currently 34.59%.
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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