Baxter International Inc. (BAX) Shares Sold by Aristotle Capital Management LLC
Aristotle Capital Management LLC cut its stake in shares of Baxter International Inc. (NYSE:BAX) by 0.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,729,772 shares of the medical instruments supplier’s stock after selling 48,785 shares during the period. Baxter International makes up approximately 3.2% of Aristotle Capital Management LLC’s holdings, making the stock its 2nd largest position. Aristotle Capital Management LLC owned 1.24% of Baxter International worth $349,006,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans raised its position in shares of Baxter International by 6.2% in the fourth quarter. Thrivent Financial for Lutherans now owns 17,301 shares of the medical instruments supplier’s stock worth $768,000 after buying an additional 1,010 shares during the last quarter. Perigon Wealth Management LLC raised its position 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 worth $663,000 after buying an additional 1,102 shares during the last quarter. USA Financial Portformulas Corp purchased a new position in shares of Baxter International during the fourth quarter worth approximately $615,000. Teachers Advisors LLC raised its position in shares of Baxter International by 11.0% in the fourth quarter. Teachers Advisors LLC now owns 1,350,276 shares of the medical instruments supplier’s stock worth $59,871,000 after buying an additional 133,830 shares during the last quarter. Finally, Kentucky Retirement Systems purchased a new position in shares of Baxter International during the fourth quarter worth approximately $1,575,000. Institutional investors own 84.29% of the company’s stock.
Shares of Baxter International Inc. (NYSE:BAX) traded up 0.08% during midday trading on Friday, reaching $60.87. 2,308,236 shares of the company’s stock traded hands. The firm has a market cap of $33.17 billion, a PE ratio of 36.94 and a beta of 0.66. Baxter International Inc. has a 12 month low of $43.13 and a 12 month high of $63.14. The stock has a 50-day moving average price of $60.89 and a 200 day moving average price of $55.87.
Baxter International (NYSE:BAX) last released its earnings results on Wednesday, July 26th. The medical instruments supplier reported $0.63 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.06. Baxter International had a net margin of 8.85% and a return on equity of 14.82%. The firm had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.59 billion. During the same period in the prior year, the firm earned $0.46 EPS. The company’s revenue was up .8% compared to the same quarter last year. Equities research 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. Stockholders of record on Friday, September 1st will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date is Wednesday, August 30th. Baxter International’s dividend payout ratio is currently 38.79%.
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A number of research analysts have recently weighed in on BAX shares. Cantor Fitzgerald set a $70.00 price target on Baxter International and gave the company a “buy” rating in a research note on Wednesday, July 26th. BidaskClub downgraded Baxter International from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Goldman Sachs Group, Inc. (The) reissued a “conviction-buy” rating and issued a $71.00 price target on shares of Baxter International in a research note on Tuesday, May 16th. Stifel Nicolaus increased their price target on Baxter International from $58.00 to $61.00 and gave the company a “hold” rating in a research note on Wednesday, May 31st. Finally, BMO Capital Markets reissued a “hold” rating and issued a $55.00 price target on shares of Baxter International in a research note on Thursday, April 27th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. Baxter International presently has an average rating of “Buy” and an average price target of $65.15.
In related news, SVP Giuseppe Accogli sold 12,670 shares of the firm’s stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $60.96, for a total value of $772,363.20. Following the completion of the transaction, the senior vice president now directly owns 33,286 shares of the company’s stock, valued at approximately $2,029,114.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Carole J. Shapazian sold 2,618 shares of the firm’s stock in a transaction that occurred on Tuesday, May 23rd. The stock was sold at an average price of $57.92, for a total transaction of $151,634.56. Following the completion of the transaction, the director now directly owns 9,848 shares of the company’s stock, valued at $570,396.16. The disclosure for this sale can be found here. 0.05% of the stock is owned by corporate insiders.
About Baxter International
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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