Baxter International Inc. (NYSE:BAX) Position Raised by HL Financial Services LLC
HL Financial Services LLC boosted its position in shares of Baxter International Inc. (NYSE:BAX) by 0.2% during the second quarter, Holdings Channel reports. The fund owned 44,271 shares of the medical instruments supplier’s stock after buying an additional 77 shares during the period. HL Financial Services LLC’s holdings in Baxter International were worth $2,680,000 as of its most recent filing with the SEC.
A number of other large investors have also recently made changes to their positions in BAX. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Baxter International during the first quarter worth approximately $365,000. Sivik Global Healthcare LLC purchased a new stake in shares of Baxter International during the first quarter worth approximately $5,705,000. Hermes Investment Management Ltd. increased its stake in shares of Baxter International by 4,510.9% in the first quarter. Hermes Investment Management Ltd. now owns 882,074 shares of the medical instruments supplier’s stock worth $45,744,000 after buying an additional 862,944 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Baxter International by 1.0% in the first quarter. Envestnet Asset Management Inc. now owns 268,759 shares of the medical instruments supplier’s stock worth $13,939,000 after buying an additional 2,564 shares during the last quarter. Finally, Veritas Asset Management LLP increased its stake in shares of Baxter International by 3.5% in the first quarter. Veritas Asset Management LLP now owns 9,951,759 shares of the medical instruments supplier’s stock worth $516,098,000 after buying an additional 334,700 shares during the last quarter. Hedge funds and other institutional investors own 85.08% of the company’s stock.
Baxter International Inc. (NYSE BAX) opened at 60.02 on Thursday. The firm has a 50-day moving average of $60.92 and a 200-day moving average of $55.22. Baxter International Inc. has a one year low of $43.13 and a one year high of $63.14. The stock has a market capitalization of $32.63 billion, a PE ratio of 36.42 and a beta of 0.66.
Baxter International (NYSE:BAX) last issued 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. The company had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.59 billion. Baxter International had a net margin of 8.85% and a return on equity of 14.82%. The business’s revenue for the quarter was up .8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.46 EPS. On average, equities research analysts forecast that Baxter International Inc. will post $2.39 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 1st will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date is Wednesday, August 30th. Baxter International’s dividend payout ratio is currently 38.79%.
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BAX has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded shares of Baxter International from a “hold” rating to a “strong-buy” rating and set a $64.00 price objective for the company in a research report on Monday, May 1st. UBS AG raised their price objective on shares of Baxter International from $57.00 to $62.00 and gave the company a “neutral” rating in a research report on Friday, July 28th. Goldman Sachs Group, Inc. (The) restated a “conviction-buy” rating and issued a $71.00 price objective on shares of Baxter International in a research report on Tuesday, May 16th. Morgan Stanley raised their price objective on shares of Baxter International from $48.00 to $52.00 and gave the company an “underweight” rating in a research report on Friday, April 28th. Finally, Barclays PLC raised their price objective on shares of Baxter International from $64.00 to $70.00 and gave the company an “overweight” rating in a research report on Thursday, July 27th. One research analyst has rated the stock with a sell rating, six have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $65.33.
In other news, Director Carole J. Shapazian sold 2,618 shares of the company’s stock in a transaction that occurred on Tuesday, May 23rd. The shares were sold at an average price of $57.92, for a total value of $151,634.56. Following the completion of the sale, the director now directly owns 9,848 shares of the company’s stock, valued at approximately $570,396.16. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.05% of the company’s stock.
About Baxter International
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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