Baxter International Inc (NYSE:BAX) Position Raised by Ieq Capital LLC
Ieq Capital LLC raised its stake in Baxter International Inc (NYSE:BAX) by 26.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,028 shares of the medical instruments supplier’s stock after buying an additional 852 shares during the period. Ieq Capital LLC’s holdings in Baxter International were worth $327,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Riggs Asset Managment Co. Inc. bought a new position in shares of Baxter International in the fourth quarter valued at $25,000. FSA Wealth Management LLC bought a new position in shares of Baxter International in the fourth quarter valued at $25,000. Mine & Arao Wealth Creation & Management LLC. bought a new position in shares of Baxter International in the fourth quarter valued at $26,000. McIlrath & Eck LLC bought a new position in shares of Baxter International in the fourth quarter valued at $27,000. Finally, Harwood Advisory Group LLC bought a new position in shares of Baxter International in the first quarter valued at $32,000. 83.65% of the stock is currently owned by institutional investors.
In other news, SVP Jeanne K. Mason sold 47,146 shares of the company’s stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $93.13, for a total transaction of $4,390,706.98. Following the completion of the transaction, the senior vice president now owns 163,485 shares of the company’s stock, valued at $15,225,358.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Albert P. L. Stroucken sold 4,320 shares of the company’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $79.64, for a total transaction of $344,044.80. Following the transaction, the director now directly owns 34,018 shares of the company’s stock, valued at approximately $2,709,193.52. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by corporate insiders.
Baxter International (NYSE:BAX) last released its quarterly earnings results on Thursday, April 30th. The medical instruments supplier reported $0.82 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.09. Baxter International had a net margin of 8.85% and a return on equity of 22.70%. The company had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.74 billion. During the same period in the prior year, the company earned $0.76 earnings per share. The business’s quarterly revenue was up 6.2% compared to the same quarter last year. On average, equities research analysts anticipate that Baxter International Inc will post 3.29 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Friday, June 5th will be given a dividend of $0.245 per share. The ex-dividend date of this dividend is Thursday, June 4th. This represents a $0.98 dividend on an annualized basis and a dividend yield of 1.12%. This is a positive change from Baxter International’s previous quarterly dividend of $0.22. Baxter International’s dividend payout ratio is currently 26.59%.
Several analysts have issued reports on BAX shares. Wells Fargo & Co boosted their target price on shares of Baxter International from $92.00 to $104.00 and gave the company an “overweight” rating in a research note on Monday, April 20th. Citigroup lowered their price target on shares of Baxter International from $94.00 to $89.00 and set a “neutral” rating on the stock in a report on Wednesday, March 18th. JPMorgan Chase & Co. boosted their price target on shares of Baxter International from $94.00 to $96.00 and gave the company an “overweight” rating in a report on Tuesday, April 28th. SVB Leerink boosted their price target on shares of Baxter International from $96.00 to $105.00 and gave the company an “outperform” rating in a report on Friday, May 1st. Finally, UBS Group boosted their price target on shares of Baxter International from $95.00 to $103.00 and gave the company a “buy” rating in a report on Friday, May 1st. Six investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Baxter International has an average rating of “Buy” and an average target price of $95.90.
About Baxter International
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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