Hartford Financial Management Inc. lessened its holdings in shares of Baxter International Inc (NYSE:BAX) by 9.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,275 shares of the medical instruments supplier’s stock after selling 1,575 shares during the quarter. Hartford Financial Management Inc.’s holdings in Baxter International were worth $1,169,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in BAX. Weaver Consulting Group acquired a new position in shares of Baxter International in the first quarter valued at approximately $25,000. C J Advisory Inc acquired a new position in shares of Baxter International in the first quarter valued at approximately $28,000. Personal Wealth Partners acquired a new position in shares of Baxter International in the second quarter valued at approximately $29,000. TRUE Private Wealth Advisors acquired a new position in shares of Baxter International in the second quarter valued at approximately $29,000. Finally, Evolution Wealth Advisors LLC acquired a new position in shares of Baxter International in the second quarter valued at approximately $32,000. 83.96% of the stock is currently owned by hedge funds and other institutional investors.

In other news, Director John D. Forsyth sold 1,320 shares of the stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $78.21, for a total value of $103,237.20. Following the completion of the transaction, the director now directly owns 32,779 shares in the company, valued at approximately $2,563,645.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Jacqueline Kunzler sold 593 shares of the stock in a transaction on Wednesday, June 19th. The shares were sold at an average price of $80.46, for a total value of $47,712.78. Following the completion of the transaction, the senior vice president now owns 9,023 shares of the company’s stock, valued at $725,990.58. The disclosure for this sale can be found here. Insiders have sold 5,001,913 shares of company stock valued at $382,000,950 over the last 90 days. Corporate insiders own 0.70% of the company’s stock.

Several research firms have recently commented on BAX. Cowen set a $75.00 target price on Baxter International and gave the company a “hold” rating in a research report on Monday, April 22nd. JPMorgan Chase & Co. upped their target price on Baxter International from $80.00 to $88.00 and gave the company an “overweight” rating in a research report on Monday, May 13th. BMO Capital Markets upped their target price on Baxter International to $95.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Royal Bank of Canada set a $87.00 target price on Baxter International and gave the company a “hold” rating in a research report on Friday, July 26th. Finally, Wells Fargo & Co set a $95.00 target price on Baxter International and gave the company a “buy” rating in a research report on Friday, July 26th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $85.27.

Shares of NYSE:BAX opened at $88.18 on Wednesday. The firm has a market capitalization of $44.09 billion, a P/E ratio of 28.91, a P/E/G ratio of 1.99 and a beta of 1.00. Baxter International Inc has a 1 year low of $61.05 and a 1 year high of $88.28. The company has a quick ratio of 2.10, a current ratio of 2.78 and a debt-to-equity ratio of 0.72. The business’s 50 day moving average is $83.32.

Baxter International (NYSE:BAX) last issued its quarterly earnings results on Thursday, July 25th. The medical instruments supplier reported $0.89 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.08. The business had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.80 billion. Baxter International had a return on equity of 21.21% and a net margin of 14.28%. The firm’s quarterly revenue was down .1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.77 earnings per share. Sell-side analysts predict that Baxter International Inc will post 3.37 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, August 30th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date of this dividend is Thursday, August 29th. Baxter International’s dividend payout ratio is currently 28.85%.

Baxter International Company Profile

Baxter International Inc, through its subsidiaries, develops and provides a portfolio of healthcare products. The company operates through North and South America; Europe, Middle East and Africa; and Asia-Pacific segments. The company 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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