Exencial Wealth Advisors LLC purchased a new position in Baxter International Inc. (NYSE:BAX) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 23,258 shares of the medical instruments supplier’s stock, valued at approximately $1,459,000.
A number of other large investors have also recently made changes to their positions in BAX. Baker Ellis Asset Management LLC bought a new position in Baxter International in the second quarter worth approximately $109,000. Acrospire Investment Management LLC boosted its holdings in Baxter International by 71.3% in the second quarter. Acrospire Investment Management LLC now owns 2,402 shares of the medical instruments supplier’s stock worth $145,000 after acquiring an additional 1,000 shares in the last quarter. Harvest Fund Management Co. Ltd boosted its holdings in Baxter International by 8.4% in the second quarter. Harvest Fund Management Co. Ltd now owns 2,928 shares of the medical instruments supplier’s stock worth $177,000 after acquiring an additional 226 shares in the last quarter. Captrust Financial Advisors bought a new position in Baxter International in the second quarter worth approximately $188,000. Finally, Salem Investment Counselors Inc. boosted its holdings in Baxter International by 400.0% in the first quarter. Salem Investment Counselors Inc. now owns 3,800 shares of the medical instruments supplier’s stock worth $198,000 after acquiring an additional 3,040 shares in the last quarter. Institutional investors and hedge funds own 83.49% of the company’s stock.
Baxter International Inc. (BAX) traded down $1.11 during mid-day trading on Monday, hitting $63.88. The stock had a trading volume of 4,883,400 shares, compared to its average volume of 2,684,560. The company has a market capitalization of $34,830.00, a price-to-earnings ratio of 26.40, a PEG ratio of 2.14 and a beta of 0.68. Baxter International Inc. has a 52 week low of $43.13 and a 52 week high of $65.70. The company has a quick ratio of 2.22, a current ratio of 2.80 and a debt-to-equity ratio of 0.37.
Baxter International (NYSE:BAX) last issued its quarterly earnings results on Wednesday, October 25th. The medical instruments supplier reported $0.64 EPS for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.05. The business had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.66 billion. Baxter International had a return on equity of 15.00% and a net margin of 9.88%. Baxter International’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period last year, the company posted $0.56 earnings per share. research analysts expect that Baxter International Inc. will post 2.43 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 1st will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.64 dividend on an annualized basis and a yield of 1.00%. Baxter International’s dividend payout ratio (DPR) is currently 34.59%.
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BAX has been the topic of several recent research reports. Cantor Fitzgerald set a $70.00 price target on Baxter International and gave the stock a “buy” rating in a report on Wednesday, July 26th. UBS AG increased their price target on Baxter International from $57.00 to $62.00 and gave the stock a “neutral” rating in a report on Friday, July 28th. Royal Bank Of Canada reiterated a “hold” rating and issued a $60.00 price target on shares of Baxter International in a report on Friday, September 1st. Citigroup Inc. initiated coverage on Baxter International in a report on Thursday, August 17th. They issued a “neutral” rating and a $63.00 price target on the stock. Finally, Zacks Investment Research upgraded Baxter International from a “hold” rating to a “buy” rating and set a $69.00 price target on the stock in a report on Tuesday, October 10th. Six equities research analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $67.00.
In related 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 transaction of $321,150,000.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Carole J. Shapazian sold 4,020 shares of Baxter International stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $61.61, for a total value of $247,672.20. Following the sale, the director now owns 13,868 shares in the company, valued at $854,407.48. The disclosure for this sale can be found here. Insiders have sold 5,022,380 shares of company stock worth $322,536,224 over the last quarter. 0.05% of the stock is currently owned by corporate insiders.
Baxter International Profile
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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