Baxter International Inc. (BAX) Stake Cut by Nisa Investment Advisors LLC
Nisa Investment Advisors LLC lowered its position in Baxter International Inc. (NYSE:BAX) by 1.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 177,468 shares of the company’s stock after selling 2,200 shares during the period. Nisa Investment Advisors LLC’s holdings in Baxter International were worth $8,447,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Stillwater Investment Management LLC increased its stake in Baxter International by 3.0% in the third quarter. Stillwater Investment Management LLC now owns 19,967 shares of the company’s stock worth $950,000 after buying an additional 588 shares in the last quarter. Smith Asset Management Group LP purchased a new stake in Baxter International during the second quarter worth about $32,281,000. 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 in the last quarter. Bank of New York Mellon Corp increased its stake in Baxter International by 6.6% in the second quarter. Bank of New York Mellon Corp now owns 5,530,764 shares of the company’s stock worth $250,102,000 after buying an additional 343,725 shares in the last quarter. Finally, California Public Employees Retirement System increased its stake in Baxter International by 39.5% in the second quarter. California Public Employees Retirement System now owns 2,059,667 shares of the company’s stock worth $93,138,000 after buying an additional 583,144 shares in the last quarter. Institutional investors and hedge funds own 83.64% of the company’s stock.
Shares of Baxter International Inc. (NYSE:BAX) traded down 2.864% during midday trading on Tuesday, reaching $45.275. The company’s stock had a trading volume of 5,954,527 shares. The company has a market cap of $24.63 billion, a PE ratio of 5.069 and a beta of 0.88. Baxter International Inc. has a 12 month low of $34.06 and a 12 month high of $50.16. The company’s 50-day moving average price is $47.22 and its 200-day moving average price is $46.46.
Baxter International (NYSE:BAX) last announced its earnings results on Tuesday, October 25th. The company reported $0.56 EPS for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.11. Baxter International had a return on equity of 11.43% and a net margin of 48.68%. The company had revenue of $2.56 billion for the quarter, compared to analysts’ expectations of $2.67 billion. During the same period last year, the firm earned $0.41 EPS. Baxter International’s revenue for the quarter was up 2.9% compared to the same quarter last year. On average, equities analysts anticipate that Baxter International Inc. will post $1.91 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 3rd. Investors of record on Friday, December 2nd will be issued a $0.13 dividend. The ex-dividend date of this dividend is Wednesday, November 30th. This represents a $0.52 dividend on an annualized basis and a yield of 1.15%. Baxter International’s dividend payout ratio is currently 5.83%.
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Several equities analysts have recently weighed in on BAX shares. Zacks Investment Research cut Baxter International from a “buy” rating to a “hold” rating in a research report on Monday, October 17th. Barclays PLC started coverage on Baxter International in a research report on Thursday, September 15th. They issued an “overweight” rating and a $52.00 price target for the company. Evercore ISI reiterated a “buy” rating and issued a $56.00 price target (up from $52.00) on shares of Baxter International in a research report on Wednesday, October 26th. Wells Fargo & Co. started coverage on Baxter International in a research report on Thursday, October 13th. They issued an “outperform” rating for the company. Finally, Royal Bank Of Canada lifted their price target on Baxter International from $50.00 to $55.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 26th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $51.30.
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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