Tower Research Capital LLC TRC lowered its position in Baxter International Inc (NYSE:BAX) by 25.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,223 shares of the medical instruments supplier’s stock after selling 3,082 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Baxter International were worth $711,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently made changes to their positions in the business. FMR LLC increased its stake in shares of Baxter International by 2.5% in the third quarter. FMR LLC now owns 29,356,040 shares of the medical instruments supplier’s stock valued at $2,263,057,000 after purchasing an additional 719,013 shares during the period. Standard Life Aberdeen plc increased its stake in shares of Baxter International by 121.2% in the third quarter. Standard Life Aberdeen plc now owns 5,743,738 shares of the medical instruments supplier’s stock valued at $442,813,000 after purchasing an additional 3,146,868 shares during the period. Janus Henderson Group PLC increased its stake in shares of Baxter International by 7.6% in the third quarter. Janus Henderson Group PLC now owns 4,321,125 shares of the medical instruments supplier’s stock valued at $333,116,000 after purchasing an additional 306,714 shares during the period. Bessemer Group Inc. increased its stake in shares of Baxter International by 0.6% in the third quarter. Bessemer Group Inc. now owns 3,809,617 shares of the medical instruments supplier’s stock valued at $293,682,000 after purchasing an additional 23,264 shares during the period. Finally, Voya Investment Management LLC increased its stake in shares of Baxter International by 411.6% in the second quarter. Voya Investment Management LLC now owns 3,411,849 shares of the medical instruments supplier’s stock valued at $251,931,000 after purchasing an additional 2,745,012 shares during the period. Institutional investors own 83.40% of the company’s stock.

Baxter International stock opened at $67.26 on Thursday. The company has a current ratio of 2.60, a quick ratio of 1.96 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $35.79 billion, a price-to-earnings ratio of 27.12, a price-to-earnings-growth ratio of 1.81 and a beta of 1.04. Baxter International Inc has a 1 year low of $61.05 and a 1 year high of $78.38.

Baxter International (NYSE:BAX) last posted its quarterly earnings results on Wednesday, October 31st. The medical instruments supplier reported $0.80 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.74 by $0.06. The firm had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.79 billion. Baxter International had a net margin of 10.90% and a return on equity of 17.67%. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.64 earnings per share. Sell-side analysts predict that Baxter International Inc will post 3 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 2nd. Shareholders of record on Monday, December 3rd will be given a $0.19 dividend. The ex-dividend date is Friday, November 30th. This represents a $0.76 annualized dividend and a yield of 1.13%. Baxter International’s dividend payout ratio (DPR) is 30.65%.

Baxter International declared that its board has initiated a stock buyback program on Tuesday, November 13th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the medical instruments supplier to reacquire up to 6.1% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

BAX has been the topic of a number of research analyst reports. Zacks Investment Research upgraded shares of Baxter International from a “hold” rating to a “buy” rating and set a $87.00 price objective on the stock in a research note on Tuesday, September 25th. Argus reiterated a “hold” rating on shares of Baxter International in a research note on Tuesday, September 4th. Royal Bank of Canada lowered their price objective on shares of Baxter International from $76.00 to $70.00 and set a “sector perform” rating on the stock in a research note on Thursday, November 8th. Morgan Stanley lowered their price objective on shares of Baxter International from $75.00 to $66.00 and set an “underweight” rating on the stock in a research note on Monday, November 5th. Finally, UBS Group initiated coverage on shares of Baxter International in a research note on Tuesday, November 27th. They set a “buy” rating and a $80.00 price objective on the stock. Two analysts have rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $74.41.

In other Baxter International news, insider Third Point Llc sold 8,000,000 shares of Baxter International stock in a transaction that occurred on Monday, December 3rd. The shares were sold at an average price of $68.62, for a total value of $548,960,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Giuseppe Accogli sold 17,647 shares of Baxter International stock in a transaction that occurred on Monday, September 17th. The stock was sold at an average price of $77.27, for a total transaction of $1,363,583.69. Following the completion of the transaction, the senior vice president now owns 59,452 shares in the company, valued at approximately $4,593,856.04. The disclosure for this sale can be found here. Insiders own 0.05% of the company’s stock.

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Baxter International Company Profile

Baxter International Inc provides a portfolio of healthcare products. The company operates through North and South America; Europe, Middle East and Africa; and Asia-Pacific segments. It offers peritoneal dialysis and hemodialysis, and additional dialysis therapies and services; renal replacement therapies and other organ support therapies focused in the intensive care unit; sterile intravenous (IV) solutions, IV therapies, infusion pumps, administration sets, and drug reconstitution devices; and parenteral nutrition therapies.

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

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