Rhumbline Advisers boosted its position in Baxter International Inc. (NYSE:BAX) by 1.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 837,314 shares of the medical instruments supplier’s stock after buying an additional 12,633 shares during the period. Rhumbline Advisers owned about 0.15% of Baxter International worth $50,691,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Baxter International during the first quarter worth approximately $365,000. Sivik Global Healthcare LLC purchased a new stake in Baxter International during the first quarter worth approximately $5,705,000. Hermes Investment Management Ltd. increased its stake in 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 in the last quarter. Envestnet Asset Management Inc. increased its stake in 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 in the last quarter. Finally, Veritas Asset Management LLP increased its stake in 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 in the last quarter. 85.08% of the stock is currently owned by institutional investors.
Shares of Baxter International Inc. (NYSE:BAX) opened at 59.84 on Friday. The stock’s 50 day moving average price is $60.89 and its 200-day moving average price is $55.35. Baxter International Inc. has a 12 month low of $43.13 and a 12 month high of $63.14. The firm has a market capitalization of $32.61 billion, a price-to-earnings ratio of 36.31 and a beta of 0.66.
Baxter International (NYSE:BAX) last posted its 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 firm had revenue of $2.61 billion for the quarter, compared to analysts’ expectations of $2.59 billion. Baxter International had a net margin of 8.85% and a return on equity of 14.82%. The company’s revenue was up .8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.46 earnings per share. On average, equities research analysts predict that Baxter International Inc. will post $2.39 EPS for the current fiscal year.
The business also recently announced 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. The ex-dividend date is Wednesday, August 30th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.07%. Baxter International’s payout ratio is presently 38.79%.
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BAX has been the topic of a number of research reports. Zacks Investment Research raised Baxter International from a “hold” rating to a “strong-buy” rating and set a $64.00 price objective on the stock in a research note on Monday, May 1st. UBS AG boosted their price objective on Baxter International from $57.00 to $62.00 and gave the stock a “neutral” rating in a research note on Friday, July 28th. Morgan Stanley boosted their price objective on Baxter International from $48.00 to $52.00 and gave the stock an “underweight” rating in a research note on Friday, April 28th. Goldman Sachs Group, Inc. (The) reissued a “conviction-buy” rating and issued a $71.00 price objective on shares of Baxter International in a research note on Tuesday, May 16th. Finally, Barclays PLC boosted their price objective on Baxter International from $64.00 to $70.00 and gave the stock an “overweight” rating in a research note on Thursday, July 27th. One 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’s stock. Baxter International presently has a consensus rating of “Buy” and an average target price of $65.33.
In other Baxter International news, Director Carole J. Shapazian sold 2,618 shares of the business’s stock in a transaction on Tuesday, May 23rd. The shares were sold at an average price of $57.92, for a total transaction of $151,634.56. Following the sale, the director now owns 9,848 shares of the company’s stock, valued at $570,396.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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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