Baxter International Inc. (BAX) Stake Cut by Airain ltd
Airain ltd decreased its stake in Baxter International Inc. (NYSE:BAX) by 68.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 45,361 shares of the medical instruments supplier’s stock after selling 96,526 shares during the period. Airain ltd’s holdings in Baxter International were worth $2,746,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of BAX. BlackRock Inc. raised its position in Baxter International by 1,941.1% in the first quarter. BlackRock Inc. now owns 46,937,709 shares of the medical instruments supplier’s stock valued at $2,434,190,000 after buying an additional 44,638,052 shares during the last quarter. Bessemer Group Inc. raised its position in Baxter International by 42,907.2% in the second quarter. Bessemer Group Inc. now owns 4,652,950 shares of the medical instruments supplier’s stock valued at $281,690,000 after buying an additional 4,642,131 shares during the last quarter. Renaissance Technologies LLC raised its position in Baxter International by 2,859.6% in the first quarter. Renaissance Technologies LLC now owns 1,897,115 shares of the medical instruments supplier’s stock valued at $98,384,000 after buying an additional 1,833,015 shares during the last quarter. Victory Capital Management Inc. raised its position in Baxter International by 438.8% in the first quarter. Victory Capital Management Inc. now owns 1,968,222 shares of the medical instruments supplier’s stock valued at $102,072,000 after buying an additional 1,602,894 shares during the last quarter. Finally, CI Global Investments Inc. purchased a new position in Baxter International during the first quarter valued at approximately $76,714,000. 83.69% of the stock is owned by institutional investors.
Baxter International Inc. (BAX) opened at 61.64 on Tuesday. The firm has a 50-day moving average of $61.03 and a 200-day moving average of $56.34. The company has a market capitalization of $33.59 billion, a P/E ratio of 37.40 and a beta of 0.66. Baxter International Inc. has a one year low of $43.13 and a one year high of $63.14.
Baxter International (NYSE:BAX) last released its earnings results on Wednesday, July 26th. The medical instruments supplier reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.06. Baxter International had a return on equity of 14.82% and a net margin of 8.85%. The company had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.59 billion. During the same quarter last year, the business posted $0.46 EPS. Baxter International’s quarterly revenue was up .8% compared to the same quarter last year. On average, analysts anticipate that Baxter International Inc. will post $2.39 earnings per share for the current year.
The company 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 dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date of this dividend is Wednesday, August 30th. Baxter International’s dividend payout ratio is presently 38.79%.
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A number of analysts have recently issued reports on BAX shares. Stifel Nicolaus boosted their target price on shares of Baxter International from $58.00 to $61.00 and gave the company a “hold” rating in a research note on Wednesday, May 31st. Zacks Investment Research raised shares of Baxter International from a “hold” rating to a “strong-buy” rating and set a $64.00 target price for the company in a research note on Monday, May 1st. BMO Capital Markets raised shares of Baxter International from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $55.00 to $70.00 in a research note on Tuesday, July 11th. They noted that the move was a valuation call. Cowen and Company boosted their target price on shares of Baxter International from $48.00 to $57.00 and gave the company a “market perform” rating in a research note on Monday, May 1st. Finally, Goldman Sachs Group, Inc. (The) reissued a “conviction-buy” rating and set a $71.00 target price on shares of Baxter International in a research note on Tuesday, May 16th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, six have issued a buy rating and two have given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $65.15.
In other Baxter International news, SVP Giuseppe Accogli sold 12,670 shares of the stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $60.96, for a total transaction of $772,363.20. Following the transaction, the senior vice president now owns 33,286 shares of the company’s stock, valued at approximately $2,029,114.56. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Carole J. Shapazian sold 4,020 shares of the stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $61.61, for a total value of $247,672.20. Following the transaction, the director now directly owns 13,868 shares in the company, valued at approximately $854,407.48. The disclosure for this sale can be found here. Company 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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