Markston International LLC Sells 7,744 Shares of Baxter International Inc. (BAX)
Markston International LLC lowered its stake in shares of Baxter International Inc. (NYSE:BAX) by 16.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,647 shares of the medical instruments supplier’s stock after selling 7,744 shares during the period. Markston International LLC’s holdings in Baxter International were worth $2,340,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Baker Ellis Asset Management LLC purchased a new stake in shares of Baxter International during the second quarter worth about $109,000. Benjamin F. Edwards & Company Inc. raised its stake in shares of Baxter International by 6.1% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 2,533 shares of the medical instruments supplier’s stock worth $131,000 after buying an additional 145 shares during the period. Bronfman E.L. Rothschild L.P. raised its stake in shares of Baxter International by 3.9% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,776 shares of the medical instruments supplier’s stock worth $144,000 after buying an additional 103 shares during the period. Trust Co. of Vermont raised its stake in shares of Baxter International by 8.7% in the first quarter. Trust Co. of Vermont now owns 3,282 shares of the medical instruments supplier’s stock worth $170,000 after buying an additional 262 shares during the period. Finally, Arrow Financial Corp raised its stake in shares of Baxter International by 2.6% in the first quarter. Arrow Financial Corp now owns 3,820 shares of the medical instruments supplier’s stock worth $198,000 after buying an additional 95 shares during the period. 84.29% of the stock is currently owned by institutional investors.
Shares of Baxter International Inc. (NYSE:BAX) remained flat at $61.51 on Friday. The stock had a trading volume of 2,389,377 shares. The stock has a 50-day moving average price of $61.03 and a 200-day moving average price of $56.34. The stock has a market capitalization of $33.51 billion, a P/E ratio of 37.32 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.
Baxter International (NYSE:BAX) last released its quarterly earnings results on Wednesday, July 26th. The medical instruments supplier reported $0.63 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.06. Baxter International had a return on equity of 14.82% and a net margin of 8.85%. The business had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $2.59 billion. During the same quarter in the prior year, the business earned $0.46 earnings per share. The company’s quarterly revenue was up .8% compared to the same quarter last year. Analysts forecast that Baxter International Inc. will post $2.39 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 1st will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.04%. The ex-dividend date of this dividend is Wednesday, August 30th. Baxter International’s dividend payout ratio (DPR) is presently 38.79%.
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A number of equities research analysts have issued reports on the stock. BidaskClub raised shares of Baxter International from a “buy” rating to a “strong-buy” rating in a report on Monday, August 14th. Zacks Investment Research lowered shares of Baxter International from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Barclays PLC raised their price target on shares of Baxter International from $64.00 to $70.00 and gave the stock an “overweight” rating in a report on Thursday, July 27th. Cowen and Company reissued a “market perform” rating and issued a $66.00 price target (up previously from $57.00) on shares of Baxter International in a report on Monday, July 10th. Finally, Evercore ISI reissued an “outperform” rating and issued a $60.00 price target (up previously from $57.00) on shares of Baxter International in a report on Saturday, April 29th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $65.15.
In other news, Director Carole J. Shapazian sold 4,020 shares of the company’s stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $61.61, for a total transaction of $247,672.20. Following the completion of the sale, the director now owns 13,868 shares in the company, valued at $854,407.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Giuseppe Accogli sold 12,670 shares of the company’s stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $60.96, for a total value of $772,363.20. Following the sale, the senior vice president now owns 33,286 shares of the company’s stock, valued at approximately $2,029,114.56. The disclosure for this sale can be found here. 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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