Twin Tree Management LP Increases Holdings in Baxter International Inc (BAX)
Twin Tree Management LP raised its position in shares of Baxter International Inc (NYSE:BAX) by 148.0% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,362 shares of the medical instruments supplier’s stock after buying an additional 28,878 shares during the quarter. Twin Tree Management LP’s holdings in Baxter International were worth $691,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. EFG Asset Management Americas Corp. raised its position in shares of Baxter International by 31.5% during the 2nd quarter. EFG Asset Management Americas Corp. now owns 92,205 shares of the medical instruments supplier’s stock worth $6,808,000 after purchasing an additional 22,063 shares during the period. Trust Co. of Virginia VA acquired a new stake in shares of Baxter International during the 2nd quarter worth approximately $276,000. Cedar Capital LLC acquired a new stake in shares of Baxter International during the 2nd quarter worth approximately $297,000. Greenleaf Trust raised its position in shares of Baxter International by 24.7% during the 2nd quarter. Greenleaf Trust now owns 8,737 shares of the medical instruments supplier’s stock worth $645,000 after purchasing an additional 1,729 shares during the period. Finally, Aspiriant LLC acquired a new stake in shares of Baxter International during the 2nd quarter worth approximately $245,000. Hedge funds and other institutional investors own 82.92% of the company’s stock.
A number of analysts have recently weighed in on the company. Citigroup increased their price target on Baxter International from $74.00 to $76.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 31st. Zacks Investment Research upgraded Baxter International from a “hold” rating to a “buy” rating and set a $79.00 price target on the stock in a research report on Thursday, May 17th. Stifel Nicolaus increased their price target on Baxter International from $71.00 to $72.00 and gave the stock a “hold” rating in a research report on Monday, April 30th. Piper Jaffray Companies assumed coverage on Baxter International in a research report on Thursday, May 17th. They set an “overweight” rating and a $77.00 price target on the stock. Finally, Royal Bank of Canada reiterated a “hold” rating and set a $76.00 price target on shares of Baxter International in a research report on Friday, July 27th. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $76.00.
Baxter International (NYSE:BAX) last issued its quarterly earnings results on Thursday, July 26th. The medical instruments supplier reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.06. The firm had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.83 billion. Baxter International had a return on equity of 16.63% and a net margin of 8.29%. The firm’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period last year, the company posted $0.63 EPS. equities research analysts forecast that Baxter International Inc will post 2.98 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 1st. Shareholders of record on Friday, August 31st will be paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date is Thursday, August 30th. Baxter International’s payout ratio is currently 30.65%.
In other news, SVP Brik V. Eyre sold 25,000 shares of the firm’s stock in a transaction on Tuesday, May 22nd. The stock was sold at an average price of $71.96, for a total transaction of $1,799,000.00. Following the completion of the sale, the senior vice president now directly owns 128,777 shares of the company’s stock, valued at approximately $9,266,792.92. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Carole J. Shapazian sold 5,400 shares of the firm’s stock in a transaction on Wednesday, August 8th. The stock was 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 of the company’s stock, valued at $1,112,646.56. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 74,877 shares of company stock valued at $5,468,755. 0.07% of the stock is currently owned by corporate insiders.
Baxter International Company Profile
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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