Barings LLC Has $4,974,000 Stake in Baxter International Inc. (BAX)
Barings LLC continued to hold its position in shares of Baxter International Inc. (NYSE:BAX) during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 95,903 shares of the medical instruments supplier’s stock at the close of the 2nd quarter. Barings LLC’s holdings in Baxter International were worth $4,974,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in BAX. Baker Ellis Asset Management LLC purchased a new position in Baxter International in the second quarter valued at $109,000. Bronfman E.L. Rothschild L.P. raised its position in shares of Baxter International by 3.9% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,776 shares of the medical instruments supplier’s stock worth $144,000 after acquiring an additional 103 shares during the period. Acrospire Investment Management LLC raised its position in shares of Baxter International by 71.3% in the second quarter. Acrospire Investment Management LLC now owns 2,402 shares of the medical instruments supplier’s stock worth $145,000 after acquiring an additional 1,000 shares during the period. Harvest Fund Management Co. Ltd raised its position in shares of Baxter International by 8.4% in the second quarter. Harvest Fund Management Co. Ltd now owns 2,928 shares of the medical instruments supplier’s stock worth $177,000 after acquiring an additional 226 shares during the period. Finally, Captrust Financial Advisors purchased a new stake in shares of Baxter International during the 2nd quarter worth about $188,000. Institutional investors own 83.62% of the company’s stock.
Shares of Baxter International Inc. (NYSE BAX) traded up 0.18% on Wednesday, reaching $62.73. The company’s stock had a trading volume of 458,293 shares. Baxter International Inc. has a 1-year low of $43.13 and a 1-year high of $64.75. The stock has a market capitalization of $34.18 billion, a P/E ratio of 38.06 and a beta of 0.65. The company has a 50 day moving average of $62.59 and a 200 day moving average of $58.80.
Baxter International (NYSE:BAX) last released its quarterly earnings results on Wednesday, July 26th. The medical instruments supplier reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.06. Baxter International had a return on equity of 14.82% and a net margin of 8.85%. The business had revenue of $2.61 billion for the quarter, compared to analysts’ expectations of $2.59 billion. During the same quarter in the prior year, the firm posted $0.46 EPS. The company’s revenue was up .8% compared to the same quarter last year. Equities research analysts expect that Baxter International Inc. will post $2.39 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Friday, September 1st were issued a dividend of $0.16 per share. The ex-dividend date was Wednesday, August 30th. This represents a $0.64 annualized dividend and a yield of 1.02%. Baxter International’s dividend payout ratio is presently 38.79%.
Several equities analysts recently weighed in on BAX shares. Royal Bank Of Canada restated a “hold” rating and issued a $60.00 price target on shares of Baxter International in a research note on Friday, September 1st. UBS AG increased their price target on Baxter International from $57.00 to $62.00 and gave the stock a “neutral” rating in a research report on Friday, July 28th. Barclays PLC increased their price target on Baxter International from $64.00 to $70.00 and gave the stock an “overweight” rating in a research report on Thursday, July 27th. BidaskClub raised Baxter International from a “buy” rating to a “strong-buy” rating in a report on Monday, August 14th. Finally, Cowen and Company reissued a “market perform” rating and issued a $66.00 price objective (up from $57.00) on shares of Baxter International in a report on Monday, July 10th. One equities research 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 stock. The company presently has a consensus rating of “Buy” and an average price target of $65.31.
In other Baxter International news, Director Carole J. Shapazian sold 4,020 shares of the firm’s stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $61.61, for a total transaction of $247,672.20. Following the completion of the transaction, the director now directly owns 13,868 shares in the company, valued at approximately $854,407.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Giuseppe Accogli sold 12,670 shares of Baxter International stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $60.96, for a total transaction of $772,363.20. Following the transaction, the senior vice president now owns 33,286 shares of the company’s stock, valued at approximately $2,029,114.56. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 35,050 shares of company stock valued at $2,158,587. 0.05% of the stock is currently owned by insiders.
Baxter International 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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