CNB Bank bought a new position in shares of Baxter International Inc (NYSE:BAX) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 3,921 shares of the medical instruments supplier’s stock, valued at approximately $254,000.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Robecosam AG bought a new stake in shares of Baxter International during the fourth quarter worth $103,000. Family Capital Trust Co bought a new stake in shares of Baxter International during the fourth quarter worth $103,000. Community Bank N.A. grew its stake in shares of Baxter International by 152.7% during the fourth quarter. Community Bank N.A. now owns 1,655 shares of the medical instruments supplier’s stock worth $107,000 after buying an additional 1,000 shares during the last quarter. Trustcore Financial Services LLC bought a new stake in shares of Baxter International during the fourth quarter worth $131,000. Finally, Grove Bank & Trust grew its stake in shares of Baxter International by 526.0% during the third quarter. Grove Bank & Trust now owns 2,285 shares of the medical instruments supplier’s stock worth $143,000 after buying an additional 1,920 shares during the last quarter. 85.54% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts have weighed in on the stock. Citigroup boosted their target price on shares of Baxter International from $66.00 to $70.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 6th. Barclays boosted their target price on shares of Baxter International from $73.00 to $77.00 and gave the stock an “overweight” rating in a research note on Friday, February 2nd. Deutsche Bank raised shares of Baxter International from a “hold” rating to a “buy” rating and set a $80.00 target price on the stock in a research note on Tuesday, February 20th. JPMorgan Chase & Co. raised shares of Baxter International from a “neutral” rating to an “overweight” rating in a research note on Tuesday, January 2nd. Finally, Raymond James Financial upgraded shares of Baxter International from a “market perform” rating to an “outperform” rating and set a $73.00 price target on the stock in a report on Wednesday, January 3rd. Seven analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company’s stock. Baxter International presently has an average rating of “Buy” and an average price target of $71.27.
Baxter International Inc (BAX) opened at $65.55 on Friday. The company has a market cap of $35,897.63, a price-to-earnings ratio of 26.69, a PEG ratio of 1.92 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 Inc has a fifty-two week low of $51.39 and a fifty-two week high of $72.58.
Baxter International (NYSE:BAX) last released its earnings results on Thursday, February 1st. The medical instruments supplier reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.05. The business had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.77 billion. Baxter International had a net margin of 6.79% and a return on equity of 15.11%. Baxter International’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.57 earnings per share. research analysts forecast that Baxter International Inc will post 2.78 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 2nd. Investors of record on Friday, March 2nd will be issued a $0.16 dividend. The ex-dividend date is Thursday, March 1st. This represents a $0.64 annualized dividend and a yield of 0.98%. Baxter International’s payout ratio is 49.61%.
Baxter International declared that its board has initiated a stock repurchase plan on Tuesday, February 20th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the medical instruments supplier to buy shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
In related news, SVP Giuseppe Accogli sold 28,641 shares of the business’s stock in a transaction on Tuesday, January 2nd. The shares were 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 SEC, which is available at this hyperlink. Also, Director Carole J. Shapazian sold 4,990 shares of the business’s stock in a transaction on Friday, March 2nd. The shares were sold at an average price of $66.05, for a total transaction of $329,589.50. The disclosure for this sale can be found here. 0.05% of the stock is owned by insiders.
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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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