Baxter International Inc. (BAX) Stake Lowered by 361 Capital LLC
361 Capital LLC decreased its stake in shares of Baxter International Inc. (NYSE:BAX) by 54.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 62,964 shares of the medical instruments supplier’s stock after selling 75,080 shares during the period. Baxter International accounts for approximately 0.8% of 361 Capital LLC’s holdings, making the stock its 26th biggest holding. 361 Capital LLC’s holdings in Baxter International were worth $3,951,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Baker Ellis Asset Management LLC acquired a new position in Baxter International during the 2nd quarter worth about $109,000. Acrospire Investment Management LLC lifted its position in Baxter International by 71.3% during the 2nd quarter. Acrospire Investment Management LLC now owns 2,402 shares of the medical instruments supplier’s stock worth $145,000 after buying an additional 1,000 shares in the last quarter. Harvest Fund Management Co. Ltd lifted its position in Baxter International by 8.4% during the 2nd quarter. Harvest Fund Management Co. Ltd now owns 2,928 shares of the medical instruments supplier’s stock worth $177,000 after buying an additional 226 shares in the last quarter. Captrust Financial Advisors acquired a new position in Baxter International during the 2nd quarter worth about $188,000. Finally, Hutner Capital Management Inc. acquired a new position in Baxter International during the 3rd quarter worth about $203,000. Institutional investors and hedge funds own 82.85% of the company’s stock.
Shares of Baxter International Inc. (BAX) traded up $0.73 during mid-day trading on Thursday, hitting $65.15. The stock had a trading volume of 942,077 shares, compared to its average volume of 2,675,185. The company has a current ratio of 2.80, a quick ratio of 2.22 and a debt-to-equity ratio of 0.37. The company has a market cap of $35,530.00, a PE ratio of 26.64, a PEG ratio of 2.16 and a beta of 0.68. Baxter International Inc. has a one year low of $43.13 and a one year high of $65.70.
Baxter International (NYSE:BAX) last announced its quarterly earnings results on Wednesday, October 25th. The medical instruments supplier reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.05. The company had revenue of $2.71 billion during the quarter, compared to analysts’ expectations of $2.66 billion. Baxter International had a return on equity of 15.00% and a net margin of 9.88%. Baxter International’s revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.56 EPS. analysts anticipate that Baxter International Inc. will post 2.43 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 1st will be paid a $0.16 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.98%. Baxter International’s dividend payout ratio (DPR) is presently 34.59%.
BAX has been the topic of several research reports. Cantor Fitzgerald set a $70.00 price target on shares of Baxter International and gave the stock a “buy” rating in a research report on Wednesday, July 26th. Zacks Investment Research upgraded shares of Baxter International from a “hold” rating to a “buy” rating and set a $69.00 price target on the stock in a research report on Tuesday, October 10th. BidaskClub downgraded shares of Baxter International from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. BMO Capital Markets reissued a “buy” rating and set a $70.00 price objective on shares of Baxter International in a report on Friday, October 13th. Finally, Morgan Stanley boosted their price objective on Baxter International from $59.00 to $62.00 and gave the stock an “equal weight” rating in a report on Thursday, October 26th. Six analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the company’s stock. Baxter International currently has an average rating of “Buy” and an average target price of $67.00.
In related news, Director Third Point Llc sold 5,000,000 shares of the stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $64.23, for a total transaction of $321,150,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 sale, the director now directly owns 13,868 shares of the company’s stock, valued at $854,407.48. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,022,380 shares of company stock valued at $322,536,224. 0.05% of the stock is currently owned by company insiders.
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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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