Riverhead Capital Management LLC Acquires 28,160 Shares of Baxter International Inc. (BAX)
Riverhead Capital Management LLC lifted its holdings in Baxter International Inc. (NYSE:BAX) by 39.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 100,421 shares of the medical instruments supplier’s stock after purchasing an additional 28,160 shares during the quarter. Riverhead Capital Management LLC’s holdings in Baxter International were worth $6,080,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of the stock. Dumont & Blake Investment Advisors LLC grew its holdings in shares of Baxter International by 0.3% in the first quarter. Dumont & Blake Investment Advisors LLC now owns 12,786 shares of the medical instruments supplier’s stock valued at $663,000 after purchasing an additional 40 shares in the last quarter. Alps Advisors Inc. grew its holdings in shares of Baxter International by 0.5% in the second quarter. Alps Advisors Inc. now owns 10,261 shares of the medical instruments supplier’s stock valued at $621,000 after purchasing an additional 52 shares in the last quarter. Clifford Swan Investment Counsel LLC lifted its position in Baxter International by 0.4% in the first quarter. Clifford Swan Investment Counsel LLC now owns 15,204 shares of the medical instruments supplier’s stock worth $788,000 after buying an additional 67 shares during the last quarter. Bronfman E.L. Rothschild L.P. lifted its position in 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 last quarter. Finally, Liberty Capital Management Inc. lifted its position in Baxter International by 0.4% in the second quarter. Liberty Capital Management Inc. now owns 28,707 shares of the medical instruments supplier’s stock worth $1,741,000 after buying an additional 107 shares during the last quarter. 83.71% of the stock is owned by hedge funds and other institutional investors.
Baxter International Inc. (NYSE BAX) traded up 0.02% during mid-day trading on Tuesday, hitting $64.29. The stock had a trading volume of 131,217 shares. Baxter International Inc. has a one year low of $43.13 and a one year high of $64.56. The company has a market cap of $35.03 billion, a PE ratio of 39.01 and a beta of 0.66. The firm’s 50-day moving average price is $61.11 and its 200 day moving average price is $57.34.
Baxter International (NYSE:BAX) last released its quarterly earnings results 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 business had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $2.59 billion. Baxter International had a return on equity of 14.82% and a net margin of 8.85%. The company’s revenue was up .8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.46 EPS. On average, equities research analysts anticipate that Baxter International Inc. will post $2.39 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders 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 dividend yield of 1.00%. The ex-dividend date of this dividend is Wednesday, August 30th. Baxter International’s dividend payout ratio is presently 38.79%.
BAX has been the subject of a number of analyst reports. Stifel Nicolaus raised their price target on Baxter International from $58.00 to $61.00 and gave the stock a “hold” rating in a research report on Wednesday, May 31st. BMO Capital Markets upgraded Baxter International from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $55.00 to $70.00 in a research report on Tuesday, July 11th. They noted that the move was a valuation call. Goldman Sachs Group, Inc. (The) restated a “conviction-buy” rating and issued a $71.00 price target on shares of Baxter International in a research report on Tuesday, May 16th. Cowen and Company restated a “market perform” rating and issued a $68.00 price target (up from $66.00) on shares of Baxter International in a research report on Thursday, July 27th. Finally, Royal Bank Of Canada restated a “hold” rating and issued a $60.00 price target on shares of Baxter International in a research report on Friday, September 1st. One analyst has rated the stock with a sell rating, six have given a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $65.31.
In related news, Director Thomas T. Stallkamp sold 8,920 shares of the stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $62.28, for a total transaction of $555,537.60. Following the transaction, the director now owns 16,263 shares of the company’s stock, valued at approximately $1,012,859.64. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Giuseppe Accogli sold 12,670 shares of the stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $60.96, for a total value of $772,363.20. Following the transaction, the senior vice president now directly owns 33,286 shares in the company, valued at approximately $2,029,114.56. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 35,050 shares of company stock valued at $2,158,587. Company insiders own 0.05% of the company’s stock.
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Baxter International 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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