Ameriprise Financial Inc. Has $514.23 Million Stake in Baxter International Inc. (BAX)
Ameriprise Financial Inc. cut its position in Baxter International Inc. (NYSE:BAX) by 2.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,195,089 shares of the medical instruments supplier’s stock after selling 186,430 shares during the quarter. Ameriprise Financial Inc. owned approximately 1.50% of Baxter International worth $514,231,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. Baker Ellis Asset Management LLC acquired a new position in Baxter International in the 2nd quarter valued at $109,000. Acrospire Investment Management LLC grew its stake in Baxter International by 71.3% in the 2nd quarter. Acrospire Investment Management LLC now owns 2,402 shares of the medical instruments supplier’s stock valued at $145,000 after buying an additional 1,000 shares during the last quarter. Harvest Fund Management Co. Ltd grew its stake in Baxter International by 8.4% in the 2nd quarter. Harvest Fund Management Co. Ltd now owns 2,928 shares of the medical instruments supplier’s stock valued at $177,000 after buying an additional 226 shares during the last quarter. Captrust Financial Advisors acquired a new position in Baxter International in the 2nd quarter valued at $188,000. Finally, Hutner Capital Management Inc. acquired a new position in Baxter International in the 3rd quarter valued at $203,000. Institutional investors and hedge funds own 83.49% of the company’s stock.
In other Baxter International news, Director Carole J. Shapazian sold 4,020 shares of the firm’s stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $61.61, for a total value of $247,672.20. Following the completion of the sale, the director now owns 13,868 shares in the company, valued at approximately $854,407.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John D. Forsyth sold 9,440 shares of the firm’s stock in a transaction dated Friday, August 25th. The shares were sold at an average price of $61.76, for a total transaction of $583,014.40. Following the completion of the sale, the director now owns 32,444 shares of the company’s stock, valued at approximately $2,003,741.44. The disclosure for this sale can be found here. Insiders have sold a total of 5,022,380 shares of company stock valued at $322,536,224 over the last three months. 0.05% of the stock is currently owned by insiders.
A number of research analysts recently issued reports on the stock. Royal Bank Of Canada raised their target price on shares of Baxter International to $66.00 and gave the company a “sector perform” rating in a research note on Wednesday. BidaskClub raised shares of Baxter International from a “buy” rating to a “strong-buy” rating in a report on Monday, August 14th. Citigroup Inc. initiated coverage on shares of Baxter International in a report on Thursday, August 17th. They issued a “neutral” rating and a $63.00 price target for the company. Cowen and Company set a $68.00 price target on shares of Baxter International and gave the company a “hold” rating in a report on Sunday, October 15th. Finally, Zacks Investment Research downgraded shares of Baxter International from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Six research 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 stock. The stock presently has an average rating of “Buy” and an average price target of $67.46.
Baxter International Inc. (NYSE:BAX) opened at $64.25 on Wednesday. Baxter International Inc. has a 1-year low of $43.13 and a 1-year high of $65.70. The stock has a market cap of $35,010.00, a PE ratio of 26.40, a P/E/G ratio of 2.14 and a beta of 0.68. The company has a current ratio of 2.80, a quick ratio of 2.22 and a debt-to-equity ratio of 0.37.
Baxter International (NYSE:BAX) last announced its quarterly earnings results on Wednesday, October 25th. The medical instruments supplier reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.05. Baxter International had a net margin of 9.88% and a return on equity of 15.00%. The firm had revenue of $2.71 billion during the quarter, compared to the consensus estimate of $2.66 billion. During the same period last year, the firm posted $0.56 EPS. The firm’s quarterly revenue was up 5.8% on a year-over-year basis. equities analysts predict that Baxter International Inc. will post 2.43 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 1st will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.00%. The ex-dividend date is Thursday, November 30th. Baxter International’s dividend payout ratio is currently 34.59%.
About Baxter International
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.
Receive News & Stock Ratings for Baxter International Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Baxter International Inc. and related stocks with our FREE daily email newsletter.