First Republic Investment Management Inc. increased its position in shares of Baxter International Inc (NYSE:BAX) by 6.1% in the 2nd quarter, HoldingsChannel reports. The firm owned 74,205 shares of the medical instruments supplier’s stock after purchasing an additional 4,292 shares during the period. First Republic Investment Management Inc.’s holdings in Baxter International were worth $5,480,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Raymond James & Associates raised its holdings in Baxter International by 17.7% during the second quarter. Raymond James & Associates now owns 314,101 shares of the medical instruments supplier’s stock worth $23,193,000 after purchasing an additional 47,136 shares in the last quarter. Lcnb Corp raised its holdings in Baxter International by 35.4% during the second quarter. Lcnb Corp now owns 8,250 shares of the medical instruments supplier’s stock worth $609,000 after purchasing an additional 2,155 shares in the last quarter. BB&T Securities LLC raised its holdings in Baxter International by 2.6% during the second quarter. BB&T Securities LLC now owns 63,273 shares of the medical instruments supplier’s stock worth $4,671,000 after purchasing an additional 1,609 shares in the last quarter. AMP Capital Investors Ltd raised its holdings in Baxter International by 1.5% during the second quarter. AMP Capital Investors Ltd now owns 267,439 shares of the medical instruments supplier’s stock worth $19,749,000 after purchasing an additional 3,839 shares in the last quarter. Finally, Twin Capital Management Inc. raised its holdings in Baxter International by 0.7% during the second quarter. Twin Capital Management Inc. now owns 146,220 shares of the medical instruments supplier’s stock worth $10,797,000 after purchasing an additional 990 shares in the last quarter. 83.08% of the stock is owned by hedge funds and other institutional investors.

Several brokerages have weighed in on BAX. Zacks Investment Research lowered shares of Baxter International from a “buy” rating to a “hold” rating in a research report on Thursday, May 31st. JPMorgan Chase & Co. upped their target price on shares of Baxter International from $80.00 to $85.00 and gave the stock an “overweight” rating in a research report on Friday, July 27th. Citigroup upped their target price on shares of Baxter International from $74.00 to $76.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 31st. Bank of America upped their target price on shares of Baxter International from $73.00 to $83.00 and gave the stock a “buy” rating in a research report on Tuesday, May 22nd. Finally, Piper Jaffray Companies began coverage on shares of Baxter International in a research report on Thursday, May 17th. They set an “overweight” rating and a $77.00 target price on the stock. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Baxter International presently has an average rating of “Buy” and a consensus target price of $76.00.

In other news, Director Carole J. Shapazian sold 5,400 shares of the stock in a transaction that occurred on Wednesday, August 8th. The shares were sold at an average price of $72.97, for a total value of $394,038.00. Following the sale, the director now directly owns 15,248 shares in the company, valued at $1,112,646.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Scott Pleau sold 10,686 shares of the stock in a transaction that occurred on Tuesday, July 10th. The shares were sold at an average price of $75.00, for a total transaction of $801,450.00. Following the completion of the sale, the senior vice president now owns 26,349 shares in the company, valued at $1,976,175. The disclosure for this sale can be found here. Insiders sold 43,283 shares of company stock worth $3,196,371 over the last quarter. Company insiders own 0.05% of the company’s stock.

Shares of BAX opened at $76.08 on Thursday. The company has a current ratio of 2.62, a quick ratio of 2.00 and a debt-to-equity ratio of 0.39. Baxter International Inc has a twelve month low of $60.78 and a twelve month high of $76.51. The stock has a market cap of $40.53 billion, a price-to-earnings ratio of 27.59, a P/E/G ratio of 2.05 and a beta of 0.74.

Baxter International (NYSE:BAX) last released its quarterly earnings results on Thursday, July 26th. The medical instruments supplier reported $0.77 EPS for the quarter, beating the consensus estimate of $0.71 by $0.06. The business had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.83 billion. Baxter International had a net margin of 8.29% and a return on equity of 16.63%. The company’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.63 earnings per share. equities analysts anticipate that Baxter International Inc will post 2.98 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 1st. Stockholders of record on Friday, August 31st will be given a $0.19 dividend. The ex-dividend date of this dividend is Thursday, August 30th. This represents a $0.76 annualized dividend and a dividend yield of 1.00%. Baxter International’s dividend payout ratio is presently 30.65%.

About Baxter International

Baxter International Inc provides a portfolio of healthcare products. The company operates through North and South America; Europe, Middle East and Africa; and Asia-Pacific segments. It 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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