Fuller & Thaler Asset Management Inc. Reduces Position in Baxter International Inc. (BAX)
Fuller & Thaler Asset Management Inc. lessened its position in shares of Baxter International Inc. (NYSE:BAX) by 68.2% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,194 shares of the medical instruments supplier’s stock after selling 9,000 shares during the quarter. Fuller & Thaler Asset Management Inc.’s holdings in Baxter International were worth $263,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Toronto Dominion Bank grew its stake in shares of Baxter International by 8.6% in the 3rd quarter. Toronto Dominion Bank now owns 212,015 shares of the medical instruments supplier’s stock valued at $13,304,000 after purchasing an additional 16,835 shares during the last quarter. Bahl & Gaynor Inc. grew its stake in shares of Baxter International by 24.8% in the 2nd quarter. Bahl & Gaynor Inc. now owns 20,940 shares of the medical instruments supplier’s stock valued at $928,000 after purchasing an additional 4,162 shares during the last quarter. Veritas Asset Management LLP grew its stake in shares of Baxter International by 2.3% in the 2nd quarter. Veritas Asset Management LLP now owns 10,179,102 shares of the medical instruments supplier’s stock valued at $616,243,000 after purchasing an additional 227,343 shares during the last quarter. Tocqueville Asset Management L.P. grew its stake in shares of Baxter International by 3.9% in the 2nd quarter. Tocqueville Asset Management L.P. now owns 9,242 shares of the medical instruments supplier’s stock valued at $560,000 after purchasing an additional 344 shares during the last quarter. Finally, Beaton Management Co. Inc. purchased a new position in shares of Baxter International in the 2nd quarter valued at approximately $412,000. Hedge funds and other institutional investors own 83.49% of the company’s stock.
Several research analysts have weighed in on BAX shares. Royal Bank Of Canada reiterated a “hold” rating and issued a $60.00 target price on shares of Baxter International in a research note on Friday, September 1st. Morgan Stanley raised their price target on Baxter International from $59.00 to $62.00 and gave the company an “equal weight” rating in a report on Thursday, October 26th. Zacks Investment Research raised Baxter International from a “hold” rating to a “buy” rating and set a $69.00 price target for the company in a report on Tuesday, October 10th. Barclays PLC raised their price target on Baxter International from $70.00 to $73.00 and gave the company an “overweight” rating in a report on Thursday, October 26th. Finally, BidaskClub raised Baxter International from a “buy” rating to a “strong-buy” rating in a report on Monday, August 14th. Seven investment analysts have rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $67.46.
Baxter International Inc. (NYSE:BAX) opened at $64.12 on Monday. The stock has a market capitalization of $34,934.63, a price-to-earnings ratio of 26.50, a P/E/G ratio of 2.15 and a beta of 0.68. Baxter International Inc. has a 1-year low of $43.13 and a 1-year high of $65.70. The company has a current ratio of 2.80, a quick ratio of 2.22 and a debt-to-equity ratio of 0.37.
Baxter International (NYSE:BAX) last issued its quarterly earnings data on Wednesday, October 25th. The medical instruments supplier reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.05. Baxter International had a return on equity of 15.00% and a net margin of 9.88%. The firm had revenue of $2.71 billion during the quarter, compared to analysts’ expectations of $2.66 billion. During the same period in the previous year, the firm posted $0.56 earnings per share. Baxter International’s revenue was up 5.8% on a year-over-year basis. analysts predict that Baxter International Inc. will post 2.43 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 1st will be issued a $0.16 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.00%. Baxter International’s dividend payout ratio (DPR) is 34.41%.
In other news, Director Third Point Llc sold 5,000,000 shares of Baxter International stock in a transaction on Monday, November 6th. The stock was sold at an average price of $64.23, for a total value of $321,150,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Thomas T. Stallkamp sold 8,920 shares of Baxter International stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $62.28, for a total value of $555,537.60. Following the completion of the sale, the director now directly owns 16,263 shares of the company’s stock, valued at approximately $1,012,859.64. The disclosure for this sale can be found here. 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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