Baxter International Inc (BAX) Position Raised by Piedmont Investment Advisors LLC
Piedmont Investment Advisors LLC lifted its holdings in shares of Baxter International Inc (NYSE:BAX) by 22.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 184,491 shares of the medical instruments supplier’s stock after buying an additional 33,886 shares during the period. Piedmont Investment Advisors LLC’s holdings in Baxter International were worth $11,169,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Sivik Global Healthcare LLC purchased a new stake in shares of Baxter International during the first quarter valued at $5,705,000. Envestnet Asset Management Inc. boosted its position in shares of Baxter International by 1.0% during the first quarter. Envestnet Asset Management Inc. now owns 268,759 shares of the medical instruments supplier’s stock valued at $13,939,000 after buying an additional 2,564 shares during the last quarter. Bahl & Gaynor Inc. boosted its position in shares of Baxter International by 24.8% during the second quarter. Bahl & Gaynor Inc. now owns 20,940 shares of the medical instruments supplier’s stock valued at $928,000 after buying an additional 4,162 shares during the last quarter. Veritas Asset Management LLP boosted its position in shares of Baxter International by 2.3% during the second quarter. Veritas Asset Management LLP now owns 10,179,102 shares of the medical instruments supplier’s stock valued at $616,243,000 after buying an additional 227,343 shares during the last quarter. Finally, Tocqueville Asset Management L.P. boosted its position in shares of Baxter International by 3.9% during the second quarter. Tocqueville Asset Management L.P. now owns 9,242 shares of the medical instruments supplier’s stock valued at $560,000 after buying an additional 344 shares during the last quarter. 83.62% of the stock is currently owned by institutional investors.
Several equities research analysts recently commented on BAX shares. BidaskClub cut Baxter International from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Cantor Fitzgerald set a $70.00 price objective on Baxter International and gave the company a “buy” rating in a research report on Wednesday, July 26th. Zacks Investment Research raised Baxter International from a “hold” rating to a “buy” rating and set a $69.00 price objective on the stock in a research report on Tuesday. Royal Bank Of Canada reaffirmed a “hold” rating and set a $60.00 price objective on shares of Baxter International in a research report on Friday, September 1st. Finally, Cowen and Company reaffirmed a “market perform” rating and set a $66.00 price objective (up from $57.00) on shares of Baxter International in a research report on Monday, July 10th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $65.69.
In other Baxter International news, Director Thomas T. Stallkamp sold 8,920 shares of the business’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $62.28, for a total transaction of $555,537.60. Following the sale, the director now owns 16,263 shares in the company, valued at approximately $1,012,859.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Carole J. Shapazian sold 4,020 shares of the business’s stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $61.61, for a total value of $247,672.20. Following the sale, the director now owns 13,868 shares in the company, valued at approximately $854,407.48. The disclosure for this sale can be found here. In the last quarter, insiders have sold 35,050 shares of company stock worth $2,158,587. Company insiders own 0.05% of the company’s stock.
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Shares of Baxter International Inc (NYSE:BAX) traded up 0.82% on Thursday, reaching $62.52. The company’s stock had a trading volume of 538,555 shares. The stock has a market cap of $34.07 billion, a PE ratio of 37.94 and a beta of 0.65. Baxter International Inc has a 12-month low of $43.13 and a 12-month high of $64.75. The firm has a 50 day moving average price of $62.78 and a 200-day moving average price of $59.20.
Baxter International (NYSE:BAX) last posted its quarterly earnings results on Wednesday, July 26th. The medical instruments supplier reported $0.63 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.06. The business had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.59 billion. Baxter International had a return on equity of 11.86% and a net margin of 10.13%. The company’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.46 EPS. Equities research analysts expect that Baxter International Inc will post $2.39 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Friday, September 1st were paid 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 1.03%. Baxter International’s payout ratio is presently 38.79%.
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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