Two Sigma Securities LLC lifted its holdings in Baxter International Inc (NYSE:BAX) by 75.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,548 shares of the medical instruments supplier’s stock after acquiring an additional 2,816 shares during the period. Two Sigma Securities LLC’s holdings in Baxter International were worth $423,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Checchi Capital Advisers LLC boosted its stake in shares of Baxter International by 16.5% in the fourth quarter. Checchi Capital Advisers LLC now owns 5,464 shares of the medical instruments supplier’s stock worth $353,000 after acquiring an additional 774 shares during the period. DnB Asset Management AS boosted its stake in shares of Baxter International by 1.7% in the fourth quarter. DnB Asset Management AS now owns 54,428 shares of the medical instruments supplier’s stock worth $3,518,000 after acquiring an additional 900 shares during the period. DekaBank Deutsche Girozentrale boosted its stake in shares of Baxter International by 0.5% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 185,750 shares of the medical instruments supplier’s stock worth $11,508,000 after acquiring an additional 900 shares during the period. Goelzer Investment Management Inc. boosted its stake in shares of Baxter International by 13.6% in the fourth quarter. Goelzer Investment Management Inc. now owns 7,677 shares of the medical instruments supplier’s stock worth $496,000 after acquiring an additional 922 shares during the period. Finally, Baird Financial Group Inc. boosted its stake in shares of Baxter International by 0.8% in the fourth quarter. Baird Financial Group Inc. now owns 113,681 shares of the medical instruments supplier’s stock worth $7,348,000 after acquiring an additional 952 shares during the period. 85.56% of the stock is owned by hedge funds and other institutional investors.
In other Baxter International news, SVP Giuseppe Accogli sold 28,641 shares of the company’s stock in a transaction that occurred on 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 can be accessed through the SEC website. Also, Director Carole J. Shapazian sold 4,990 shares of the company’s stock in a transaction that occurred on Friday, March 2nd. The shares were 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. Corporate insiders own 0.05% of the company’s stock.
Baxter International Inc (BAX) opened at $68.09 on Wednesday. Baxter International Inc has a one year low of $51.03 and a one year high of $72.58. The company has a market capitalization of $36,999.51, a P/E ratio of 52.78, a P/E/G ratio of 1.97 and a beta of 0.82. The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.05 and a current ratio of 2.57.
Baxter International (NYSE:BAX) last announced its quarterly earnings results on Thursday, February 1st. The medical instruments supplier reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.05. Baxter International had a return on equity of 15.11% and a net margin of 6.79%. The company had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.77 billion. During the same period in the prior year, the company earned $0.57 earnings per share. The firm’s revenue was up 4.9% on a year-over-year basis. equities analysts anticipate that Baxter International Inc will post 2.78 EPS for the current year.
Baxter International announced that its Board of Directors has initiated a share repurchase plan on Tuesday, February 20th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the medical instruments supplier to purchase shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Friday, March 2nd will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Thursday, March 1st. This represents a $0.64 dividend on an annualized basis and a yield of 0.94%. Baxter International’s dividend payout ratio (DPR) is presently 49.61%.
A number of research firms have recently weighed in on BAX. ValuEngine lowered Baxter International from a “buy” rating to a “hold” rating in a research note on Wednesday, March 7th. Barclays upped their price objective on Baxter International from $73.00 to $77.00 and gave the stock an “overweight” rating in a research note on Friday, February 2nd. Zacks Investment Research raised Baxter International from a “sell” rating to a “hold” rating in a research note on Thursday, January 4th. Deutsche Bank raised Baxter International from a “hold” rating to a “buy” rating and set a $80.00 price objective for the company in a research note on Tuesday, February 20th. Finally, BMO Capital Markets upped their price objective on Baxter International from $74.00 to $77.00 and gave the stock an “outperform” rating in a research note on Friday, February 2nd. Eight research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $71.00.
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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