Fayez Sarofim & Co. cut its position in Baxter International Inc. (NYSE:BAX) by 0.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,168 shares of the medical instruments supplier’s stock after selling 50 shares during the quarter. Fayez Sarofim & Co.’s holdings in Baxter International were worth $918,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BAX. Baker Ellis Asset Management LLC bought a new stake in Baxter International in the 2nd quarter valued at $109,000. Benjamin F. Edwards & Company Inc. boosted its stake in Baxter International by 6.1% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 2,533 shares of the medical instruments supplier’s stock valued at $131,000 after purchasing an additional 145 shares during the period. Bronfman E.L. Rothschild L.P. boosted its stake in Baxter International by 3.9% in the 1st quarter. Bronfman E.L. Rothschild L.P. now owns 2,776 shares of the medical instruments supplier’s stock valued at $144,000 after purchasing an additional 103 shares during the period. Trust Co. of Vermont boosted its stake in Baxter International by 8.7% in the 1st quarter. Trust Co. of Vermont now owns 3,282 shares of the medical instruments supplier’s stock valued at $170,000 after purchasing an additional 262 shares during the period. Finally, Harvest Fund Management Co. Ltd boosted 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 purchasing an additional 226 shares during the period. Institutional investors and hedge funds own 83.62% of the company’s stock.
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Several research firms recently issued reports on BAX. BidaskClub upgraded Baxter International from a “buy” rating to a “strong-buy” rating in a research note on Monday, August 14th. Citigroup Inc. began coverage on Baxter International in a research note on Thursday, August 17th. They issued a “neutral” rating and a $63.00 price target for the company. Zacks Investment Research downgraded Baxter International from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Cantor Fitzgerald set a $70.00 price target on Baxter International and gave the company a “buy” rating in a research note on Wednesday, July 26th. Finally, Leerink Swann restated an “outperform” rating and issued a $75.00 price target (up from $67.00) on shares of Baxter International in a research note on Thursday, July 27th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $65.31.
Baxter International Inc. (NYSE BAX) traded up 0.19% during mid-day trading on Monday, hitting $64.08. The stock had a trading volume of 170,496 shares. The firm’s 50-day moving average is $61.50 and its 200 day moving average is $57.69. Baxter International Inc. has a 12 month low of $43.13 and a 12 month high of $64.75. The company has a market cap of $34.92 billion, a price-to-earnings ratio of 38.88 and a beta of 0.66.
Baxter International (NYSE:BAX) last posted its quarterly earnings data on Wednesday, July 26th. The medical instruments supplier reported $0.63 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.06. The company had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.59 billion. Baxter International had a return on equity of 14.82% and a net margin of 8.85%. The firm’s quarterly revenue was up .8% on a year-over-year basis. During the same quarter last year, the company earned $0.46 earnings per share. Equities analysts anticipate that Baxter International Inc. will post $2.39 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 1st will be paid 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 Wednesday, August 30th. Baxter International’s dividend payout ratio is 38.79%.
In related news, SVP Giuseppe Accogli sold 12,670 shares of Baxter International stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $60.96, for a total transaction of $772,363.20. Following the completion of the sale, the senior vice president now owns 33,286 shares of the company’s stock, valued at $2,029,114.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Carole J. Shapazian sold 4,020 shares of Baxter International stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $61.61, for a total value of $247,672.20. Following the sale, the director now directly owns 13,868 shares of the company’s stock, valued at approximately $854,407.48. The disclosure for this sale can be found here. Insiders have sold 35,050 shares of company stock valued at $2,158,587 in the last three months. 0.05% of the stock is owned by corporate insiders.
Baxter International Company Profile
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.
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