Marshall Wace North America L.P. Invests $65.78 Million in Baxter International Inc. (NYSE:BAX)
Marshall Wace North America L.P. purchased a new stake in Baxter International Inc. (NYSE:BAX) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,264,993 shares of the medical instruments supplier’s stock, valued at approximately $65,780,000. Marshall Wace North America L.P. owned approximately 0.23% of Baxter International at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Baxter International during the first quarter valued at about $365,000. Sivik Global Healthcare LLC bought a new stake in shares of Baxter International during the first quarter valued at about $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. Institutional investors and hedge funds own 85.08% of the company’s stock.
Shares of Baxter International Inc. (BAX) traded down 0.02% during mid-day trading on Tuesday, reaching $59.72. The company had a trading volume of 1,969,647 shares. Baxter International Inc. has a one year low of $43.13 and a one year high of $63.14. The stock has a market capitalization of $32.47 billion, a P/E ratio of 36.24 and a beta of 0.66. The firm has a 50 day moving average of $60.86 and a 200-day moving average of $54.88.
Baxter International (NYSE:BAX) last released its quarterly earnings data on Wednesday, July 26th. The medical instruments supplier reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.06. The firm had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.59 billion. Baxter International had a return on equity of 15.09% and a net margin of 8.85%. The business’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.46 earnings per share. Analysts forecast that Baxter International Inc. will post $2.39 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 1st will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date of this dividend is Wednesday, August 30th. Baxter International’s dividend payout ratio (DPR) is 38.79%.
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Several equities research analysts recently issued reports on BAX shares. Zacks Investment Research upgraded Baxter International from a “hold” rating to a “strong-buy” rating and set a $64.00 price target for the company in a report on Monday, May 1st. UBS AG upped their price target on Baxter International from $57.00 to $62.00 and gave the stock a “neutral” rating in a report on Friday, July 28th. Goldman Sachs Group, Inc. (The) restated a “conviction-buy” rating and issued a $71.00 price objective on shares of Baxter International in a research note on Tuesday, May 16th. Morgan Stanley upped their price objective on Baxter International from $48.00 to $52.00 and gave the company an “underweight” rating in a research note on Friday, April 28th. Finally, Barclays PLC upped their price objective on Baxter International from $64.00 to $70.00 and gave the company an “overweight” rating in a research note on Thursday, July 27th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $65.33.
In other news, Director Carole J. Shapazian sold 2,618 shares of the company’s stock in a transaction dated 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 transaction, the director now owns 9,848 shares of the company’s stock, valued at $570,396.16. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.05% of the company’s stock.
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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