Edmond DE Rothschild Holding S.A. raised its stake in shares of Baxter International Inc. (NYSE:BAX) by 2.3% during the first quarter, Holdings Channel reports. The firm owned 11,640 shares of the medical instruments supplier’s stock after buying an additional 265 shares during the period. Edmond DE Rothschild Holding S.A.’s holdings in Baxter International were worth $604,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Reilly Financial Advisors LLC boosted its stake in Baxter International by 20.4% in the first quarter. Reilly Financial Advisors LLC now owns 2,054 shares of the medical instruments supplier’s stock valued at $107,000 after buying an additional 348 shares during the period. Quadrant Capital Group LLC boosted its stake in Baxter International by 1.3% in the first quarter. Quadrant Capital Group LLC now owns 2,344 shares of the medical instruments supplier’s stock valued at $113,000 after buying an additional 31 shares during the period. Benjamin F. Edwards & Company Inc. boosted its stake in Baxter International by 6.1% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 2,533 shares of the medical instruments supplier’s stock valued at $131,000 after buying an additional 145 shares during the period. Bronfman E.L. Rothschild L.P. boosted its stake in Baxter International by 3.9% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,776 shares of the medical instruments supplier’s stock valued at $144,000 after buying an additional 103 shares during the period. Finally, Trust Co. of Vermont boosted its stake in Baxter International by 8.7% in the first quarter. Trust Co. of Vermont now owns 3,282 shares of the medical instruments supplier’s stock valued at $170,000 after buying an additional 262 shares during the period. 84.09% of the stock is currently owned by institutional investors.
Baxter International Inc. (BAX) opened at 62.14 on Wednesday. Baxter International Inc. has a 12-month low of $43.13 and a 12-month high of $62.49. The firm has a 50-day moving average price of $60.04 and a 200-day moving average price of $53.67. The company has a market cap of $33.78 billion, a P/E ratio of 18.39 and a beta of 0.66.
Baxter International (NYSE:BAX) last posted its quarterly earnings results on Wednesday, April 26th. The medical instruments supplier reported $0.58 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.07. The business had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.43 billion. Baxter International had a return on equity of 14.03% and a net margin of 18.09%. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.36 EPS. On average, analysts forecast that Baxter International Inc. will post $2.27 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 1st will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.03%. Baxter International’s payout ratio is presently 19.05%.
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Several research firms recently commented on BAX. Leerink Swann raised Baxter International from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $54.00 to $64.00 in a research report on Tuesday, April 4th. Cowen and Company reaffirmed a “market perform” rating and set a $66.00 price objective (up from $57.00) on shares of Baxter International in a research report on Monday, July 10th. Evercore ISI reaffirmed an “outperform” rating and set a $60.00 price objective (up from $57.00) on shares of Baxter International in a research report on Saturday, April 29th. Barclays PLC increased their price objective on Baxter International from $62.00 to $64.00 and gave the company an “overweight” rating in a research report on Wednesday, June 14th. Finally, Royal Bank Of Canada increased their price objective on Baxter International from $55.00 to $58.00 and gave the company a “sector perform” rating in a research report on Thursday, April 27th. One analyst has rated the stock with a sell rating, six have given a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $61.54.
In other Baxter International news, Director Carole J. Shapazian sold 3,760 shares of the business’s stock in a transaction dated Tuesday, May 9th. The stock was sold at an average price of $55.89, for a total transaction of $210,146.40. Following the sale, the director now owns 16,226 shares in the company, valued at approximately $906,871.14. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Carole J. Shapazian sold 2,618 shares of the business’s stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $57.92, for a total value of $151,634.56. Following the sale, the director now owns 9,848 shares in the company, valued at approximately $570,396.16. The disclosure for this sale can be found here. In the last quarter, insiders have sold 137,110 shares of company stock worth $7,642,246. Company 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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