TRUE Private Wealth Advisors Takes Position in Baxter International Inc (NYSE:BAX)

TRUE Private Wealth Advisors acquired a new stake in Baxter International Inc (NYSE:BAX) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 353 shares of the medical instruments supplier’s stock, valued at approximately $29,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its holdings in Baxter International by 1.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,205,779 shares of the medical instruments supplier’s stock valued at $79,362,000 after acquiring an additional 17,633 shares during the period. Geode Capital Management LLC lifted its holdings in Baxter International by 4.8% in 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 acquiring an additional 297,006 shares during the period. Carroll Financial Associates Inc. lifted its holdings in Baxter International by 6.0% in the first quarter. Carroll Financial Associates Inc. now owns 4,235 shares of the medical instruments supplier’s stock valued at $344,000 after acquiring an additional 239 shares during the period. Eqis Capital Management Inc. lifted its holdings in Baxter International by 42.0% in the first quarter. Eqis Capital Management Inc. now owns 13,068 shares of the medical instruments supplier’s stock valued at $1,063,000 after acquiring an additional 3,866 shares during the period. Finally, Financial Gravity Wealth Inc. bought a new position in Baxter International in the first quarter valued at about $54,000. Institutional investors and hedge funds own 83.96% of the company’s stock.

BAX traded up $1.19 during midday trading on Friday, reaching $86.97. The company had a trading volume of 1,573,500 shares, compared to its average volume of 2,396,134. 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 business has a 50-day moving average of $83.63 and a two-hundred day moving average of $78.28. The company has a market cap of $43.80 billion, a P/E ratio of 28.51, a P/E/G ratio of 1.99 and a beta of 1.00. Baxter International Inc has a 1 year low of $61.05 and a 1 year high of $88.28.

Baxter International (NYSE:BAX) last issued its quarterly earnings results on Thursday, July 25th. The medical instruments supplier reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.08. The business had revenue of $2.84 billion during 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 quarterly revenue was down .1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.77 earnings per share. On average, equities research analysts predict that Baxter International Inc will post 3.37 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, August 30th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date is Thursday, August 29th. Baxter International’s payout ratio is 28.85%.

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

A number of research firms have weighed in on BAX. Piper Jaffray Companies increased their target price on Baxter International from $90.00 to $95.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. JPMorgan Chase & Co. increased their target price on Baxter International from $80.00 to $88.00 and gave the company an “overweight” rating in a report on Monday, May 13th. KeyCorp began coverage on Baxter International in a report on Tuesday, June 25th. They issued a “sector weight” rating on the stock. Royal Bank of Canada set a $87.00 target price on Baxter International and gave the company a “hold” rating in a report on Friday, July 26th. Finally, Barclays set a $82.00 target price on Baxter International and gave the company a “hold” rating in a report on Friday, July 26th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The company 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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Institutional Ownership by Quarter for Baxter International (NYSE:BAX)

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