Parsons Capital Management Inc. RI Reduces Stock Position in Baxter International Inc (NYSE:BAX)

Parsons Capital Management Inc. RI reduced its holdings in shares of Baxter International Inc (NYSE:BAX) by 5.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,919 shares of the medical instruments supplier’s stock after selling 1,863 shares during the quarter. Parsons Capital Management Inc. RI’s holdings in Baxter International were worth $2,614,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in BAX. Dimensional Fund Advisors LP lifted its holdings in shares of Baxter International by 1.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,205,779 shares of the medical instruments supplier’s stock worth $79,362,000 after purchasing an additional 17,633 shares during the last quarter. Geode Capital Management LLC raised its stake in Baxter International by 4.8% during the 4th quarter. Geode Capital Management LLC now owns 6,444,204 shares of the medical instruments supplier’s stock valued at $423,409,000 after acquiring an additional 297,006 shares in the last quarter. Raymond James Trust N.A. raised its stake in Baxter International by 7.8% during the 1st quarter. Raymond James Trust N.A. now owns 15,431 shares of the medical instruments supplier’s stock valued at $1,255,000 after acquiring an additional 1,114 shares in the last quarter. TIAA FSB raised its stake in Baxter International by 18.9% during the 1st quarter. TIAA FSB now owns 18,766 shares of the medical instruments supplier’s stock valued at $1,526,000 after acquiring an additional 2,980 shares in the last quarter. Finally, BKS Advisors LLC bought a new stake in Baxter International during the 1st quarter valued at $207,000. Institutional investors own 83.96% of the company’s stock.

Shares of BAX traded up $0.25 during midday trading on Thursday, reaching $86.09. The stock had a trading volume of 73,837 shares, compared to its average volume of 2,377,217. Baxter International Inc has a 52 week low of $61.05 and a 52 week 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 firm has a 50 day moving average of $83.41. The firm has a market cap of $43.70 billion, a P/E ratio of 28.17, a P/E/G ratio of 1.98 and a beta of 1.00.

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

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, August 30th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date of this dividend is Thursday, August 29th. Baxter International’s payout ratio is 28.85%.

Several analysts have weighed in on the company. Cowen set a $75.00 target price on Baxter International and gave the company a “hold” rating in a research note on Monday, April 22nd. Piper Jaffray Companies boosted their price objective on Baxter International from $90.00 to $95.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. JPMorgan Chase & Co. boosted their price objective on Baxter International from $80.00 to $88.00 and gave the stock an “overweight” rating in a research note on Monday, May 13th. Royal Bank of Canada set a $87.00 price objective on Baxter International and gave the stock a “hold” rating in a research note on Friday, July 26th. Finally, KeyCorp assumed coverage on Baxter International in a research note on Tuesday, June 25th. They issued a “sector weight” rating on the stock. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Baxter International has an average rating of “Buy” and an average price target of $85.27.

In related news, SVP Jacqueline Kunzler sold 593 shares of Baxter International stock in a transaction on Wednesday, June 19th. The stock was sold at an average price of $80.46, for a total value of $47,712.78. Following the transaction, the senior vice president now directly owns 9,023 shares in the company, valued at approximately $725,990.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John D. Forsyth sold 1,320 shares of Baxter International 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 owns 32,779 shares in the company, valued at $2,563,645.59. The disclosure for this sale can be found here. Insiders own 0.70% of the company’s stock.

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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