Providence Capital Advisors LLC Decreases Holdings in Baxter International Inc (NYSE:BAX)
Providence Capital Advisors LLC decreased its position in Baxter International Inc (NYSE:BAX) by 1.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,600 shares of the medical instruments supplier’s stock after selling 500 shares during the quarter. Baxter International accounts for 1.6% of Providence Capital Advisors LLC’s portfolio, making the stock its 17th largest position. Providence Capital Advisors LLC’s holdings in Baxter International were worth $2,670,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Caisse DE Depot ET Placement DU Quebec raised its stake in shares of Baxter International by 43.4% during the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 6,430,469 shares of the medical instruments supplier’s stock worth $526,655,000 after acquiring an additional 1,945,800 shares in the last quarter. Lazard Asset Management LLC boosted its position in Baxter International by 42.7% during the first quarter. Lazard Asset Management LLC now owns 5,222,634 shares of the medical instruments supplier’s stock valued at $424,651,000 after buying an additional 1,562,529 shares during the period. Mawer Investment Management Ltd. boosted its position in Baxter International by 114.0% during the first quarter. Mawer Investment Management Ltd. now owns 2,622,591 shares of the medical instruments supplier’s stock valued at $213,243,000 after buying an additional 1,396,850 shares during the period. BlackRock Inc. grew its stake in shares of Baxter International by 3.2% during the first quarter. BlackRock Inc. now owns 40,028,474 shares of the medical instruments supplier’s stock valued at $3,254,714,000 after buying an additional 1,259,763 shares during the last quarter. Finally, FIL Ltd grew its stake in shares of Baxter International by 64.5% during the first quarter. FIL Ltd now owns 2,056,928 shares of the medical instruments supplier’s stock valued at $167,248,000 after buying an additional 806,368 shares during the last quarter. 83.42% of the stock is owned by institutional investors and hedge funds.
In related news, Director John D. Forsyth sold 1,320 shares of the stock in a transaction dated Thursday, June 13th. The shares were 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 of the company’s stock, valued at $2,563,645.59. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director James R. Gavin III sold 7,950 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $87.63, for a total transaction of $696,658.50. Following the completion of the sale, the director now owns 40,932 shares of the company’s stock, valued at $3,586,871.16. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,797 shares of company stock worth $1,370,513. 0.70% of the stock is currently owned by company insiders.
Baxter International (NYSE:BAX) last posted its earnings results on Thursday, July 25th. The medical instruments supplier reported $0.89 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.08. The firm had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $2.80 billion. Baxter International had a return on equity of 21.21% and a net margin of 14.28%. The business’s revenue was down .1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.77 earnings per share. On average, research analysts forecast that Baxter International Inc will post 3.37 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, August 30th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date of this dividend is Thursday, August 29th. Baxter International’s payout ratio is 28.85%.
A number of equities research analysts have recently weighed in on the company. BMO Capital Markets boosted their target price on Baxter International to $95.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Barclays set a $82.00 price objective on Baxter International and gave the company a “hold” rating in a research note on Friday, July 26th. KeyCorp started coverage on Baxter International in a research note on Tuesday, June 25th. They set a “sector weight” rating for the company. Zacks Investment Research upgraded shares of Baxter International from a “hold” rating to a “buy” rating and set a $86.00 target price on the stock in a report on Friday, June 21st. Finally, Raymond James lifted their target price on shares of Baxter International from $84.00 to $95.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Baxter International currently has a consensus rating of “Buy” and a consensus price target of $85.27.
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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