Baxter International Inc. (NYSE:BAX) Stake Held by Farmers National Bank
Farmers National Bank continued to hold its stake in Baxter International Inc. (NYSE:BAX) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,906 shares of the medical instruments supplier’s stock at the end of the first quarter. Farmers National Bank’s holdings in Baxter International were worth $281,000 as of its most recent filing with the SEC.
A number of other hedge funds have also made changes to their positions in BAX. Mirae Asset Global Investments Co. Ltd. purchased a new position in Baxter International during the first quarter valued at approximately $365,000. Sivik Global Healthcare LLC purchased a new position in Baxter International during the first quarter valued at approximately $5,705,000. Hermes Investment Management Ltd. boosted its position in 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. boosted its position in 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 boosted 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. Hedge funds and other institutional investors own 84.29% of the company’s stock.
Baxter International Inc. (NYSE:BAX) traded up 0.08% during mid-day trading on Friday, hitting $60.87. The company’s stock had a trading volume of 2,308,236 shares. The firm has a 50 day moving average of $60.89 and a 200-day moving average of $55.87. Baxter International Inc. has a 52-week low of $43.13 and a 52-week high of $63.14. The firm has a market cap of $33.17 billion, a price-to-earnings ratio of 36.94 and a beta of 0.66.
Baxter International (NYSE:BAX) last announced its quarterly earnings data on Wednesday, July 26th. The medical instruments supplier reported $0.63 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.06. The firm had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $2.59 billion. Baxter International had a net margin of 8.85% and a return on equity of 14.82%. The company’s revenue for the quarter was up .8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.46 earnings per share. On average, equities research analysts expect that Baxter International Inc. will post $2.39 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 1st will be given a dividend of $0.16 per share. The ex-dividend date is Wednesday, August 30th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.05%. Baxter International’s dividend payout ratio is 38.79%.
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BAX has been the subject of a number of recent research reports. BMO Capital Markets reaffirmed a “hold” rating and set a $55.00 price target on shares of Baxter International in a report on Thursday, April 27th. Royal Bank Of Canada raised their price target on Baxter International from $55.00 to $58.00 and gave the company a “sector perform” rating in a report on Thursday, April 27th. Morgan Stanley raised their price target on Baxter International from $48.00 to $52.00 and gave the company an “underweight” rating in a report on Friday, April 28th. Evercore ISI reaffirmed an “outperform” rating and set a $60.00 price target (up from $57.00) on shares of Baxter International in a report on Saturday, April 29th. Finally, Cowen and Company increased their price objective on Baxter International from $48.00 to $57.00 and gave the company a “market perform” rating in a research report on Monday, May 1st. One analyst has rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. Baxter International has an average rating of “Buy” and an average price target of $65.15.
In other Baxter International news, SVP Giuseppe Accogli sold 12,670 shares of the stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $60.96, for a total transaction of $772,363.20. Following the completion of the transaction, the senior vice president now owns 33,286 shares in the company, valued at $2,029,114.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Carole J. Shapazian sold 2,618 shares of the stock in a transaction on Tuesday, May 23rd. The shares were sold at an average price of $57.92, for a total transaction of $151,634.56. Following the transaction, the director now owns 9,848 shares of the company’s stock, valued at approximately $570,396.16. The disclosure for this sale can be found here. 0.05% of the stock is currently 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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