Franklin Resources Inc. reduced its stake in Baxter International Inc (NYSE:BAX) by 0.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 457,905 shares of the medical instruments supplier’s stock after selling 1,171 shares during the quarter. Franklin Resources Inc. owned approximately 0.08% of Baxter International worth $29,599,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in BAX. Winslow Capital Management LLC bought a new position in Baxter International in the 4th quarter worth $178,651,000. Amundi Pioneer Asset Management Inc. bought a new stake in Baxter International during the fourth quarter valued at about $74,517,000. Renaissance Technologies LLC raised its holdings in Baxter International by 217.6% during the fourth quarter. Renaissance Technologies LLC now owns 1,486,913 shares of the medical instruments supplier’s stock valued at $96,114,000 after acquiring an additional 1,018,800 shares during the period. Old Mutual Global Investors UK Ltd. raised its holdings in Baxter International by 18.1% during the fourth quarter. Old Mutual Global Investors UK Ltd. now owns 3,098,384 shares of the medical instruments supplier’s stock valued at $200,279,000 after acquiring an additional 474,520 shares during the period. Finally, Acadian Asset Management LLC raised its holdings in Baxter International by 156.7% during the fourth quarter. Acadian Asset Management LLC now owns 657,855 shares of the medical instruments supplier’s stock valued at $42,523,000 after acquiring an additional 401,532 shares during the period. 85.54% of the stock is currently owned by institutional investors.
A number of equities research analysts have commented on the company. Citigroup raised their price target on Baxter International from $66.00 to $70.00 and gave the company a “neutral” rating in a report on Tuesday, February 6th. Barclays raised their price target on Baxter International from $73.00 to $77.00 and gave the company an “overweight” rating in a report on Friday, February 2nd. Deutsche Bank raised Baxter International from a “hold” rating to a “buy” rating and set a $80.00 price target on the stock in a report on Tuesday, February 20th. JPMorgan Chase & Co. raised Baxter International from a “neutral” rating to an “overweight” rating in a report on Tuesday, January 2nd. Finally, Royal Bank of Canada reissued a “hold” rating and set a $66.00 price target on shares of Baxter International in a report on Wednesday, November 22nd. Seven research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $71.27.
In other 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Carole J. Shapazian sold 4,990 shares of Baxter International 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. Company insiders own 0.05% of the company’s stock.
Baxter International stock opened at $66.46 on Thursday. The firm has a market capitalization of $36,140.69, a PE ratio of 51.52, a PEG ratio of 1.93 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 12-month low of $51.15 and a 12-month high of $72.58.
Baxter International (NYSE:BAX) last issued its quarterly earnings data on Thursday, February 1st. The medical instruments supplier reported $0.64 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.05. The firm had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.77 billion. Baxter International had a return on equity of 15.11% and a net margin of 6.79%. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.57 earnings per share. sell-side analysts forecast that Baxter International Inc will post 2.78 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Friday, March 2nd will be given a dividend of $0.16 per share. The ex-dividend date is Thursday, March 1st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.96%. Baxter International’s payout ratio is 49.61%.
Baxter International declared that its board has approved a stock buyback program on Tuesday, February 20th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the medical instruments supplier to buy shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
Baxter International 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.
Want to see what other hedge funds are holding BAX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Baxter International Inc (NYSE:BAX).
Receive News & Ratings for Baxter International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Baxter International and related companies with MarketBeat.com's FREE daily email newsletter.