Foresters Investment Management Company Inc. Has $16,483,000 Stake in Baxter International Inc. (NYSE:BAX)
Foresters Investment Management Company Inc. held its stake in Baxter International Inc. (NYSE:BAX) during the first quarter, according to its most recent disclosure with the SEC. The firm owned 317,828 shares of the medical instruments supplier’s stock at the end of the first quarter. Foresters Investment Management Company Inc. owned about 0.06% of Baxter International worth $16,483,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Baxter International during the first quarter valued at approximately $365,000. Sivik Global Healthcare LLC purchased a new stake in shares of Baxter International during the first quarter valued at approximately $5,705,000. Hermes Investment Management Ltd. increased its stake in shares of Baxter International by 4,510.9% in the first quarter. Hermes Investment Management Ltd. now owns 882,074 shares of the medical instruments supplier’s stock valued at $45,744,000 after buying an additional 862,944 shares during the period. Envestnet Asset Management Inc. increased its stake in shares of Baxter International by 1.0% in the first quarter. Envestnet Asset Management Inc. now owns 268,759 shares of the medical instruments supplier’s stock valued at $13,939,000 after buying an additional 2,564 shares during the period. Finally, Perigon Wealth Management LLC increased its stake in shares of Baxter International by 9.2% in the fourth quarter. Perigon Wealth Management LLC now owns 13,022 shares of the medical instruments supplier’s stock valued at $663,000 after buying an additional 1,102 shares during the period. 85.08% of the stock is currently owned by hedge funds and other institutional investors.
Baxter International Inc. (NYSE:BAX) traded down 0.02% on Tuesday, reaching $59.72. 1,969,547 shares of the company’s stock traded hands. Baxter International Inc. has a 52 week low of $43.13 and a 52 week high of $63.14. The stock has a market capitalization of $32.47 billion, a price-to-earnings ratio of 36.24 and a beta of 0.66. The firm has a 50-day moving average price of $60.86 and a 200-day moving average price of $54.88.
Baxter International (NYSE:BAX) last issued its earnings results on Wednesday, July 26th. The medical instruments supplier reported $0.63 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.06. The company had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $2.59 billion. Baxter International had a return on equity of 15.09% and a net margin of 8.85%. The firm’s quarterly revenue was up .8% on a year-over-year basis. During the same period in the prior year, the business earned $0.46 EPS. On average, analysts predict that Baxter International Inc. will post $2.39 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 1st will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.07%. The ex-dividend date of this dividend is Wednesday, August 30th. Baxter International’s payout ratio is currently 38.79%.
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Several equities analysts have issued reports on BAX shares. Cowen and Company restated a “market perform” rating and set a $68.00 target price (up previously from $66.00) on shares of Baxter International in a research note on Thursday, July 27th. Leerink Swann restated an “outperform” rating and set a $75.00 target price (up previously from $67.00) on shares of Baxter International in a research note on Thursday, July 27th. UBS AG upped their target price on shares of Baxter International from $57.00 to $62.00 and gave the company a “neutral” rating in a research note on Friday, July 28th. BidaskClub cut shares of Baxter International from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Finally, Barclays PLC increased their price objective on shares of Baxter International from $64.00 to $70.00 and gave the stock an “overweight” rating in a research note on Thursday, July 27th. One analyst has rated the stock with a sell rating, six have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Baxter International currently has an average rating of “Buy” and a consensus target price of $65.33.
In other Baxter International news, Director Carole J. Shapazian sold 2,618 shares of the company’s stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $57.92, for a total value of $151,634.56. Following the completion of the sale, the director now directly owns 9,848 shares in the company, valued at approximately $570,396.16. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.05% of the stock is owned by corporate insiders.
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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