Vanguard Group Inc. Has $3.04 Billion Stock Position in Baxter International Inc (NYSE:BAX)

Vanguard Group Inc. cut its holdings in Baxter International Inc (NYSE:BAX) by 0.6% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 37,169,097 shares of the medical instruments supplier’s stock after selling 241,382 shares during the quarter. Vanguard Group Inc. owned approximately 7.28% of Baxter International worth $3,044,150,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. SeaCrest Wealth Management LLC boosted its stake in Baxter International by 2.0% in the second quarter. SeaCrest Wealth Management LLC now owns 6,117 shares of the medical instruments supplier’s stock valued at $501,000 after buying an additional 122 shares in the last quarter. Baker Ellis Asset Management LLC boosted its stake in Baxter International by 8.3% in the second quarter. Baker Ellis Asset Management LLC now owns 1,625 shares of the medical instruments supplier’s stock valued at $133,000 after buying an additional 125 shares in the last quarter. Boston Private Wealth LLC boosted its stake in Baxter International by 1.8% in the second quarter. Boston Private Wealth LLC now owns 7,346 shares of the medical instruments supplier’s stock valued at $602,000 after buying an additional 129 shares in the last quarter. Brookstone Capital Management boosted its stake in shares of Baxter International by 4.0% during the second quarter. Brookstone Capital Management now owns 3,422 shares of the medical instruments supplier’s stock valued at $280,000 after purchasing an additional 131 shares in the last quarter. Finally, Cetera Investment Advisers boosted its stake in shares of Baxter International by 3.1% during the second quarter. Cetera Investment Advisers now owns 4,409 shares of the medical instruments supplier’s stock valued at $360,000 after purchasing an additional 134 shares in the last quarter. 83.46% of the stock is currently owned by institutional investors and hedge funds.

A number of analysts have recently commented on the company. Wells Fargo & Co set a $95.00 price target on Baxter International and gave the company a “buy” rating in a research note on Friday, July 26th. KeyCorp assumed coverage on Baxter International in a research note on Tuesday, June 25th. They set a “sector weight” rating on the stock. Royal Bank of Canada set a $87.00 price target on Baxter International and gave the company a “hold” rating in a research note on Friday, July 26th. Raymond James lifted their price target on Baxter International from $84.00 to $95.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Finally, Barclays set a $82.00 price target on Baxter International and gave the company a “hold” rating in a research note on Friday, July 26th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $85.27.

Shares of BAX traded up $0.58 during mid-day trading on Thursday, reaching $88.02. 62,692 shares of the company were exchanged, compared to its average volume of 2,064,018. Baxter International Inc has a 52 week low of $61.05 and a 52 week high of $89.93. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.10 and a current ratio of 2.78. The stock has a market capitalization of $44.38 billion, a PE ratio of 28.82, a PEG ratio of 2.01 and a beta of 1.00. The business has a 50 day simple moving average of $86.57 and a two-hundred day simple moving average of $80.47.

Baxter International (NYSE:BAX) last issued its quarterly earnings data on Thursday, July 25th. The medical instruments supplier reported $0.89 earnings per share (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 during the quarter, compared to the consensus estimate of $2.80 billion. During the same period last year, the company earned $0.77 earnings per share. The firm’s revenue was down .1% compared to the same quarter last year. On average, analysts predict that Baxter International Inc will post 3.37 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, August 30th will be given a dividend of $0.22 per share. The ex-dividend date is Thursday, August 29th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.00%. Baxter International’s dividend payout ratio (DPR) is 28.85%.

In other news, Director James R. Gavin III sold 7,950 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $87.63, for a total transaction of $696,658.50. Following the completion of the transaction, the director now directly owns 40,932 shares in the company, valued at $3,586,871.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Jacqueline Kunzler sold 5,934 shares of the firm’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $88.12, for a total value of $522,904.08. Following the transaction, the senior vice president now owns 3,089 shares of the company’s stock, valued at $272,202.68. The disclosure for this sale can be found here. Insiders have sold 14,064 shares of company stock valued at $1,235,359 over the last 90 days. 0.70% of the stock is owned by corporate insiders.

Baxter International 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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