Cornerstone Capital Management Holdings LLC. lessened its position in Baxter International Inc (NYSE:BAX) by 13.1% during the 4th quarter, HoldingsChannel reports. The firm owned 532,020 shares of the medical instruments supplier’s stock after selling 80,508 shares during the quarter. Cornerstone Capital Management Holdings LLC.’s holdings in Baxter International were worth $34,389,000 at the end of the most recent reporting period.
Other large investors have also recently modified their holdings of the company. Robecosam AG acquired a new stake in shares of Baxter International in the 4th quarter valued at $103,000. Family Capital Trust Co acquired a new stake in shares of Baxter International in the 4th quarter valued at $103,000. Community Bank N.A. boosted its stake in shares of Baxter International by 152.7% in the 4th quarter. Community Bank N.A. now owns 1,655 shares of the medical instruments supplier’s stock valued at $107,000 after purchasing an additional 1,000 shares in the last quarter. Trustcore Financial Services LLC acquired a new stake in shares of Baxter International in the 4th quarter valued at $131,000. Finally, Grove Bank & Trust boosted its stake in shares of Baxter International by 526.0% in the 3rd 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 in the last quarter. Institutional investors own 85.56% of the company’s stock.
Several equities research analysts have recently commented on BAX shares. Evercore ISI started coverage on shares of Baxter International in a research note on Wednesday, January 3rd. They issued an “outperform” rating and a $71.00 target price on the stock. Bank of America upgraded shares of Baxter International from a “neutral” rating to a “buy” rating in a research note on Tuesday, January 2nd. Raymond James Financial upgraded shares of Baxter International from a “market perform” rating to an “outperform” rating and set a $73.00 target price on the stock in a research note on Wednesday, January 3rd. Zacks Investment Research downgraded shares of Baxter International from a “buy” rating to a “hold” rating in a research report on Tuesday, December 26th. Finally, JPMorgan Chase & Co. upgraded shares of Baxter International from a “neutral” rating to an “overweight” rating in a research report on Tuesday, January 2nd. Eight research analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $71.00.
In other Baxter International news, SVP Giuseppe Accogli sold 28,641 shares of the business’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 legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Carole J. Shapazian sold 4,990 shares of the business’s stock in a transaction dated Friday, March 2nd. The stock was sold at an average price of $66.05, for a total value of $329,589.50. The disclosure for this sale can be found here. Insiders own 0.05% of the company’s stock.
Baxter International Inc (NYSE:BAX) opened at $68.09 on Wednesday. The stock has a market cap of $36,999.51, a PE ratio of 52.78, a P/E/G ratio of 1.97 and a beta of 0.82. The company has a current ratio of 2.57, a quick ratio of 2.05 and a debt-to-equity ratio of 0.38. Baxter International Inc has a 52-week low of $51.03 and a 52-week high of $72.58.
Baxter International (NYSE:BAX) last announced its quarterly earnings data on Thursday, February 1st. The medical instruments supplier reported $0.64 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.05. The firm had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.77 billion. Baxter International had a return on equity of 15.11% and a net margin of 6.79%. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.57 EPS. analysts forecast that Baxter International Inc will post 2.78 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Friday, March 2nd will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Thursday, March 1st. This represents a $0.64 annualized dividend and a yield of 0.94%. Baxter International’s dividend payout ratio is currently 49.61%.
Baxter International announced that its Board of Directors has authorized a stock buyback program on Tuesday, February 20th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the medical instruments supplier to repurchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.
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Baxter International Company Profile
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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