Oakbrook Investments LLC lessened its holdings in Baxter International Inc (NYSE:BAX) by 50.9% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 17,280 shares of the medical instruments supplier’s stock after selling 17,890 shares during the period. Oakbrook Investments LLC’s holdings in Baxter International were worth $1,117,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of the business. Bank of New York Mellon Corp increased its stake in Baxter International by 0.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 4,978,139 shares of the medical instruments supplier’s stock worth $312,378,000 after buying an additional 16,523 shares in the last quarter. Bessemer Group Inc. increased its stake in Baxter International by 1.4% in the 3rd quarter. Bessemer Group Inc. now owns 4,717,899 shares of the medical instruments supplier’s stock worth $296,048,000 after buying an additional 64,949 shares in the last quarter. Schwab Charles Investment Management Inc. increased its stake in Baxter International by 1.7% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 2,673,665 shares of the medical instruments supplier’s stock worth $172,880,000 after buying an additional 44,117 shares in the last quarter. Parametric Portfolio Associates LLC increased its stake in Baxter International by 4.6% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 1,666,746 shares of the medical instruments supplier’s stock worth $104,588,000 after buying an additional 73,771 shares in the last quarter. Finally, California Public Employees Retirement System increased its stake in Baxter International by 3.4% in the 3rd quarter. California Public Employees Retirement System now owns 1,450,242 shares of the medical instruments supplier’s stock worth $91,003,000 after buying an additional 47,076 shares in the last quarter. Institutional investors and hedge funds own 83.82% of the company’s stock.
A number of brokerages have issued reports on BAX. Zacks Investment Research upgraded Baxter International from a “sell” rating to a “hold” rating in a research note on Thursday, January 4th. Royal Bank of Canada restated a “hold” rating and set a $60.00 price objective on shares of Baxter International in a research report on Tuesday, October 3rd. Cowen set a $68.00 price objective on Baxter International and gave the company a “hold” rating in a research report on Sunday, October 15th. Barclays raised their price objective on Baxter International from $70.00 to $73.00 and gave the company an “overweight” rating in a research report on Thursday, October 26th. Finally, Evercore ISI began coverage on Baxter International in a research report on Wednesday, January 3rd. They set 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 issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $68.64.
In related news, SVP Giuseppe Accogli sold 28,641 shares of Baxter International stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $67.00, for a total value of $1,918,947.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Third Point Llc sold 5,000,000 shares of Baxter International stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $64.23, for a total value of $321,150,000.00. 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. 0.05% of the stock is currently owned by company insiders.
Baxter International Inc (NYSE:BAX) opened at $70.01 on Friday. The firm has a market capitalization of $38,140.00, a PE ratio of 37.84, a PEG ratio of 2.10 and a beta of 0.69. The company has a current ratio of 2.80, a quick ratio of 2.22 and a debt-to-equity ratio of 0.37. Baxter International Inc has a 12-month low of $45.47 and a 12-month high of $70.02.
Baxter International (NYSE:BAX) last released its quarterly earnings results on Wednesday, October 25th. The medical instruments supplier reported $0.64 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.05. The company had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.66 billion. Baxter International had a return on equity of 15.00% and a net margin of 9.88%. The firm’s revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the business posted $0.56 earnings per share. sell-side analysts forecast that Baxter International Inc will post 2.43 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Investors of record on Friday, December 1st were given a $0.16 dividend. The ex-dividend date was Thursday, November 30th. This represents a $0.64 annualized dividend and a yield of 0.91%. Baxter International’s dividend 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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