Sandy Spring Bank Lowers Holdings in Baxter International Inc. (BAX)
Sandy Spring Bank trimmed its position in Baxter International Inc. (NYSE:BAX) by 1.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 50,529 shares of the medical instruments supplier’s stock after selling 900 shares during the quarter. Sandy Spring Bank’s holdings in Baxter International were worth $3,065,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Baker Ellis Asset Management LLC purchased a new stake in shares of Baxter International in the 2nd quarter worth $109,000. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of Baxter International by 6.1% in the 1st 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. lifted its holdings in shares of Baxter International by 3.9% in the 1st 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. Captrust Financial Advisors purchased a new stake in shares of Baxter International in the 2nd quarter worth $188,000. Finally, Trust Co. of Vermont lifted its holdings in shares of Baxter International by 8.7% in the 1st 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. Institutional investors and hedge funds own 83.71% of the company’s stock.
BAX has been the subject of several research reports. Cantor Fitzgerald set a $70.00 target price on Baxter International and gave the stock a “buy” rating in a report on Wednesday, July 26th. BidaskClub cut Baxter International from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Zacks Investment Research cut Baxter International from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Stifel Nicolaus upped their target price on Baxter International from $58.00 to $61.00 and gave the stock a “hold” rating in a report on Wednesday, May 31st. Finally, Royal Bank Of Canada reissued a “hold” rating and issued a $60.00 price target on shares of Baxter International in a research report on Friday, September 1st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $65.31.
In other Baxter International news, SVP Giuseppe Accogli sold 12,670 shares of the firm’s stock in a transaction 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 directly owns 33,286 shares in the company, valued at $2,029,114.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Thomas T. Stallkamp sold 8,920 shares of the firm’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $62.28, for a total value of $555,537.60. Following the completion of the sale, the director now owns 16,263 shares in the company, valued at $1,012,859.64. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 35,050 shares of company stock worth $2,158,587. 0.05% of the stock is owned by insiders.
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Shares of Baxter International Inc. (NYSE BAX) traded down 0.56% on Friday, reaching $63.96. The company had a trading volume of 4,525,594 shares. The company has a 50 day moving average of $61.50 and a 200-day moving average of $57.69. The company has a market capitalization of $34.85 billion, a P/E ratio of 38.81 and a beta of 0.66. Baxter International Inc. has a 52 week low of $43.13 and a 52 week high of $64.75.
Baxter International (NYSE:BAX) last posted its quarterly 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 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 analysts’ expectations of $2.59 billion. During the same period last year, the firm earned $0.46 earnings per share. Baxter International’s quarterly revenue was up .8% on a year-over-year basis. Analysts predict that Baxter International Inc. will post $2.39 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 1st will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a 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%.
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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