Baxter International Inc. (BAX) Stake Lessened by Navellier & Associates Inc
Navellier & Associates Inc decreased its holdings in Baxter International Inc. (NYSE:BAX) by 14.9% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 90,135 shares of the medical instruments supplier’s stock after selling 15,802 shares during the quarter. Navellier & Associates Inc’s holdings in Baxter International were worth $5,457,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in the company. Alps Advisors Inc. grew its stake in shares of Baxter International by 0.5% in the second quarter. Alps Advisors Inc. now owns 10,261 shares of the medical instruments supplier’s stock worth $621,000 after purchasing an additional 52 shares in the last quarter. Liberty Capital Management Inc. boosted its stake in Baxter International by 0.4% during the second quarter. Liberty Capital Management Inc. now owns 28,707 shares of the medical instruments supplier’s stock valued at $1,741,000 after buying an additional 107 shares in the last quarter. Ledyard National Bank boosted its stake in Baxter International by 1.1% during the second quarter. Ledyard National Bank now owns 12,212 shares of the medical instruments supplier’s stock valued at $739,000 after buying an additional 138 shares in the last quarter. Parallel Advisors LLC boosted its stake in Baxter International by 2.2% during the second quarter. Parallel Advisors LLC now owns 7,928 shares of the medical instruments supplier’s stock valued at $479,000 after buying an additional 170 shares in the last quarter. Finally, Atlantic Trust LLC boosted its stake in Baxter International by 0.4% during the first quarter. Atlantic Trust LLC now owns 41,539 shares of the medical instruments supplier’s stock valued at $2,155,000 after buying an additional 180 shares in the last quarter. 83.60% of the stock is owned by institutional investors.
Several brokerages recently weighed in on BAX. Zacks Investment Research cut Baxter International from a “buy” rating to a “hold” rating in a research note on Monday. Cowen and Company set a $68.00 target price on Baxter International and gave the company a “hold” rating in a research note on Sunday. BMO Capital Markets reaffirmed a “buy” rating and set a $70.00 target price on shares of Baxter International in a research note on Friday. Royal Bank Of Canada reaffirmed a “hold” rating and set a $60.00 target price on shares of Baxter International in a research note on Tuesday, October 3rd. Finally, Citigroup Inc. began coverage on Baxter International in a research note on Thursday, August 17th. They set a “neutral” rating and a $63.00 target price for the company. One research analyst has rated the stock with a sell rating, six have given a hold rating, five have given a buy rating and two have given a strong buy rating to the company’s stock. Baxter International has a consensus rating of “Buy” and a consensus target price of $65.69.
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In related news, Director Thomas T. Stallkamp sold 8,920 shares of the company’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 $1,012,859.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Carole J. Shapazian sold 4,020 shares of the company’s stock in a transaction dated Thursday, August 24th. The stock was 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. Over the last 90 days, insiders sold 35,050 shares of company stock worth $2,158,587. Corporate insiders own 0.05% of the company’s stock.
Baxter International Inc. (NYSE:BAX) traded up 0.804% during midday trading on Monday, hitting $63.325. The stock had a trading volume of 1,011,380 shares. The firm has a market cap of $34.50 billion, a P/E ratio of 38.425 and a beta of 0.65. Baxter International Inc. has a 52 week low of $43.13 and a 52 week high of $64.75. The stock has a 50-day moving average of $62.89 and a 200-day moving average of $59.41.
Baxter International (NYSE:BAX) last issued its quarterly earnings results on Wednesday, July 26th. The medical instruments supplier reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.06. The company had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.59 billion. Baxter International had a return on equity of 14.82% and a net margin of 8.85%. The company’s quarterly revenue was up .8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.46 earnings per share. Analysts forecast that Baxter International Inc. will post $2.39 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Friday, September 1st were issued a $0.16 dividend. The ex-dividend date was Wednesday, August 30th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.02%. Baxter International’s dividend payout ratio (DPR) is 38.79%.
Baxter International Company 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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