Huntington National Bank Reduces Position in Baxter International Inc. (BAX)
Huntington National Bank cut its position in shares of Baxter International Inc. (NYSE:BAX) by 23.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 245,846 shares of the company’s stock after selling 73,609 shares during the period. Huntington National Bank’s holdings in Baxter International were worth $11,118,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently modified their holdings of BAX. Jensen Investment Management Inc. bought a new stake in Baxter International during the second quarter worth $409,000. Smith Asset Management Group LP bought a new stake in Baxter International during the second quarter worth $32,281,000. HL Financial Services LLC increased its stake in Baxter International by 224.4% in the second quarter. HL Financial Services LLC now owns 31,705 shares of the company’s stock worth $1,434,000 after buying an additional 21,933 shares during the last quarter. Trust Co. of Toledo NA OH increased its stake in Baxter International by 5.5% in the second quarter. Trust Co. of Toledo NA OH now owns 40,696 shares of the company’s stock worth $1,840,000 after buying an additional 2,107 shares during the last quarter. Finally, Meeder Asset Management Inc. increased its stake in Baxter International by 28.0% in the second quarter. Meeder Asset Management Inc. now owns 35,832 shares of the company’s stock worth $1,620,000 after buying an additional 7,836 shares during the last quarter. 84.81% of the stock is currently owned by hedge funds and other institutional investors.
Baxter International Inc. (NYSE:BAX) traded up 0.06% during midday trading on Wednesday, reaching $47.04. The company had a trading volume of 2,222,520 shares. Baxter International Inc. has a one year low of $32.92 and a one year high of $49.49. The stock has a market capitalization of $25.58 billion, a price-to-earnings ratio of 5.40 and a beta of 0.71. The company has a 50-day moving average price of $47.05 and a 200-day moving average price of $45.50.
Baxter International (NYSE:BAX) last issued its quarterly earnings results on Tuesday, July 26th. The company reported $0.46 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.06. Baxter International had a return on equity of 10.70% and a net margin of 47.74%. The firm earned $2.60 billion during the quarter, compared to analyst estimates of $2.51 billion. During the same quarter in the previous year, the company posted $1.00 earnings per share. The company’s revenue was up 4.4% compared to the same quarter last year. On average, equities analysts expect that Baxter International Inc. will post $1.73 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Friday, September 2nd were paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.11%. The ex-dividend date of this dividend was Wednesday, August 31st. Baxter International’s dividend payout ratio (DPR) is currently 5.99%.
A number of analysts have recently weighed in on the company. Barclays PLC assumed coverage on Baxter International in a research report on Thursday, September 15th. They set an “overweight” rating and a $52.00 target price for the company. JPMorgan Chase & Co. reiterated a “hold” rating and set a $45.00 target price on shares of Baxter International in a research report on Friday, July 8th. RBC Capital Markets reiterated a “hold” rating and set a $50.00 target price (up from $47.00) on shares of Baxter International in a research report on Wednesday, July 27th. Royal Bank Of Canada upped their target price on Baxter International from $47.00 to $50.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 27th. Finally, Zacks Investment Research upgraded Baxter International from a “sell” rating to a “hold” rating and set a $54.00 target price for the company in a research report on Wednesday, July 27th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $48.25.
Baxter International Company Profile
Baxter International Inc, through its subsidiaries, provides a portfolio of essential renal and hospital products, including home, acute and in-center dialysis; sterile intravenous (IV) solutions; infusion systems and devices; parenteral nutrition; biosurgery products and anesthetics, and pharmacy automation, software and services.
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