Twin Capital Management Inc. trimmed its stake in shares of Baxter International Inc (NYSE:BAX) by 45.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 72,090 shares of the medical instruments supplier’s stock after selling 58,990 shares during the quarter. Twin Capital Management Inc.’s holdings in Baxter International were worth $5,904,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently made changes to their positions in the company. BlackRock Inc. boosted its stake in shares of Baxter International by 3.2% during the 1st quarter. BlackRock Inc. now owns 40,028,474 shares of the medical instruments supplier’s stock worth $3,254,714,000 after acquiring an additional 1,259,763 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Baxter International by 1.0% in the first quarter. Northern Trust Corp now owns 8,703,648 shares of the medical instruments supplier’s stock valued at $707,694,000 after purchasing an additional 88,135 shares in the last quarter. Veritas Asset Management LLP raised its holdings in Baxter International by 1.0% during the first quarter. Veritas Asset Management LLP now owns 7,850,949 shares of the medical instruments supplier’s stock valued at $638,361,000 after buying an additional 77,608 shares in the last quarter. Geode Capital Management LLC raised its holdings in Baxter International by 4.8% during the fourth quarter. Geode Capital Management LLC now owns 6,444,204 shares of the medical instruments supplier’s stock valued at $423,409,000 after buying an additional 297,006 shares in the last quarter. Finally, Lazard Asset Management LLC raised its holdings 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 in the last quarter. Institutional investors and hedge funds own 83.96% of the company’s stock.
Shares of NYSE:BAX traded up $0.32 during trading on Thursday, reaching $86.16. The stock had a trading volume of 63,069 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 firm has a 50-day simple moving average of $83.41. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.78 and a quick ratio of 2.10. The company has a market cap of $43.70 billion, a PE ratio of 28.26, a PEG ratio of 1.98 and a beta of 1.00.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, August 30th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.02%. The ex-dividend date is Thursday, August 29th. Baxter International’s dividend payout ratio (DPR) is presently 28.85%.
In related news, SVP Jacqueline Kunzler sold 593 shares of the business’s stock in a transaction that occurred 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 in the company, valued at approximately $725,990.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John D. Forsyth sold 1,320 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $78.21, for a total transaction of $103,237.20. Following the completion of the transaction, the director now owns 32,779 shares of the company’s stock, valued at approximately $2,563,645.59. The disclosure for this sale can be found here. Insiders own 0.70% of the company’s stock.
Several equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. raised their price target on Baxter International from $80.00 to $88.00 and gave the company an “overweight” rating in a research report on Monday, May 13th. Zacks Investment Research raised Baxter International from a “hold” rating to a “buy” rating and set a $86.00 price target on the stock in a research report on Friday, June 21st. Cowen set a $75.00 price target on Baxter International and gave the company a “hold” rating in a research report on Monday, April 22nd. KeyCorp initiated coverage on Baxter International in a research report on Tuesday, June 25th. They issued a “sector weight” rating on the stock. Finally, Piper Jaffray Companies lifted their target price on Baxter International from $90.00 to $95.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $85.27.
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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