Baxter International Inc. (BAX) Position Raised by Bank of New York Mellon Corp
Bank of New York Mellon Corp raised its position in shares of Baxter International Inc. (NYSE:BAX) by 3.5% during the third quarter, according to its most recent disclosure with the SEC. The firm owned 5,726,864 shares of the company’s stock after buying an additional 196,100 shares during the period. Bank of New York Mellon Corp owned 1.05% of Baxter International worth $272,597,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in the stock. Stillwater Investment Management LLC boosted 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 during the last quarter. Smith Asset Management Group LP purchased a new stake in Baxter International during the second quarter valued at $32,281,000. Trust Co. of Toledo NA OH boosted 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 valued at $1,840,000 after buying an additional 2,107 shares during the last quarter. California Public Employees Retirement System boosted 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 valued at $93,138,000 after buying an additional 583,144 shares during the last quarter. Finally, Community Financial Services Group LLC purchased a new stake in Baxter International during the second quarter valued at $224,000. 83.64% of the stock is owned by institutional investors.
Shares of Baxter International Inc. (NYSE:BAX) opened at 44.63 on Wednesday. Baxter International Inc. has a 12 month low of $34.06 and a 12 month high of $50.16. The company has a market cap of $24.28 billion, a price-to-earnings ratio of 5.00 and a beta of 0.88. 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 posted its earnings results on Tuesday, October 25th. The company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.11. The firm had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.67 billion. Baxter International had a return on equity of 11.43% and a net margin of 48.68%. The business’s quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.41 earnings per share. Analysts anticipate that Baxter International Inc. will post $1.91 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 3rd. Shareholders of record on Friday, December 2nd will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Wednesday, November 30th. This represents a $0.52 annualized dividend and a dividend yield of 1.16%. Baxter International’s dividend payout ratio is currently 5.83%.
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Several research firms recently weighed in on BAX. RBC Capital Markets reissued a “sector perform” rating and set a $55.00 price target (up from $50.00) on shares of Baxter International in a report on Wednesday, October 26th. Barclays PLC started coverage on Baxter International in a report on Thursday, September 15th. They set an “overweight” rating and a $52.00 price target for the company. Evercore ISI reaffirmed a “buy” rating and issued a $56.00 price objective (up from $52.00) on shares of Baxter International in a report on Wednesday, October 26th. Zacks Investment Research raised Baxter International from a “hold” rating to a “buy” rating and set a $53.00 price objective for the company in a report on Thursday, October 13th. Finally, Royal Bank Of Canada lifted their price objective on Baxter International from $50.00 to $55.00 and gave the company a “sector perform” rating in a report on Wednesday, October 26th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the stock. Baxter International presently has an average 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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