Harvest Fund Management Co. Ltd lifted its stake in Baxter International Inc. (NYSE:BAX) by 8.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,928 shares of the medical instruments supplier’s stock after acquiring an additional 226 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Baxter International were worth $177,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in shares of Baxter International by 1,941.1% in the 1st quarter. BlackRock Inc. now owns 46,937,709 shares of the medical instruments supplier’s stock worth $2,434,190,000 after acquiring an additional 44,638,052 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Baxter International by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 32,765,687 shares of the medical instruments supplier’s stock worth $1,699,228,000 after acquiring an additional 836,708 shares in the last quarter. State Street Corp raised its position in shares of Baxter International by 2.6% in the 1st quarter. State Street Corp now owns 25,660,985 shares of the medical instruments supplier’s stock worth $1,330,814,000 after acquiring an additional 648,581 shares in the last quarter. Harris Associates L P raised its position in shares of Baxter International by 7.8% in the 1st quarter. Harris Associates L P now owns 14,373,056 shares of the medical instruments supplier’s stock worth $745,387,000 after acquiring an additional 1,039,729 shares in the last quarter. Finally, Veritas Asset Management LLP raised its position in shares of Baxter International by 2.3% in the 2nd quarter. Veritas Asset Management LLP now owns 10,179,102 shares of the medical instruments supplier’s stock worth $616,243,000 after acquiring an additional 227,343 shares in the last quarter. 83.71% of the stock is owned by hedge funds and other institutional investors.

Baxter International Inc. (NYSE:BAX) traded down 0.56% during mid-day trading on Friday, reaching $63.96. The company’s stock had a trading volume of 4,525,594 shares. The stock’s 50 day moving average is $61.50 and its 200 day moving average is $57.69. Baxter International Inc. has a one year low of $43.13 and a one year high of $64.75. The firm has a market cap of $34.85 billion, a PE ratio of 38.81 and a beta of 0.66.

Baxter International (NYSE:BAX) last posted its earnings results on Wednesday, July 26th. The medical instruments supplier reported $0.63 EPS for the quarter, topping 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 business had revenue of $2.61 billion for the quarter, compared to analysts’ expectations of $2.59 billion. During the same quarter in the previous year, the firm earned $0.46 earnings per share. The business’s revenue was up .8% compared to the same quarter last year. On average, analysts anticipate that Baxter International Inc. will post $2.39 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 1st will be given 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 is Wednesday, August 30th. Baxter International’s dividend payout ratio (DPR) is currently 38.79%.

In other news, Director Thomas T. Stallkamp sold 8,920 shares of Baxter International 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 sale, the director now owns 16,263 shares in the company, valued at $1,012,859.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John D. Forsyth sold 9,440 shares of Baxter International stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $61.76, for a total value of $583,014.40. Following the sale, the director now owns 32,444 shares in the company, valued at approximately $2,003,741.44. The disclosure for this sale can be found here. Insiders have sold 35,050 shares of company stock worth $2,158,587 in the last quarter. Insiders own 0.05% of the company’s stock.

BAX has been the subject of several recent research reports. Cantor Fitzgerald set a $70.00 price target on Baxter International and gave the stock a “buy” rating in a research report on Wednesday, July 26th. BidaskClub lowered Baxter International from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Zacks Investment Research lowered Baxter International from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Stifel Nicolaus upped their target price on Baxter International from $58.00 to $61.00 and gave the company a “hold” rating in a research report on Wednesday, May 31st. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and set a $60.00 target price 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 assigned a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $65.31.

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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.

Institutional Ownership by Quarter for Baxter International (NYSE:BAX)

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