The Manufacturers Life Insurance Company raised its position in shares of Baxter International Inc (NYSE:BAX) by 43.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 784,983 shares of the medical instruments supplier’s stock after acquiring an additional 237,329 shares during the quarter. The Manufacturers Life Insurance Company ‘s holdings in Baxter International were worth $50,741,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in the business. Davidson Investment Advisors raised its holdings in shares of Baxter International by 0.9% during the fourth quarter. Davidson Investment Advisors now owns 143,641 shares of the medical instruments supplier’s stock valued at $9,285,000 after acquiring an additional 1,255 shares during the last quarter. New Mexico Educational Retirement Board raised its holdings in shares of Baxter International by 6.2% during the fourth quarter. New Mexico Educational Retirement Board now owns 48,161 shares of the medical instruments supplier’s stock valued at $3,113,000 after acquiring an additional 2,800 shares during the last quarter. Old Mutual Global Investors UK Ltd. raised its holdings in shares of Baxter International by 18.1% during the fourth quarter. Old Mutual Global Investors UK Ltd. now owns 3,098,384 shares of the medical instruments supplier’s stock valued at $200,279,000 after acquiring an additional 474,520 shares during the last quarter. Pegasus Partners Ltd. acquired a new position in shares of Baxter International during the fourth quarter valued at approximately $1,352,000. Finally, Boston Common Asset Management LLC raised its holdings in shares of Baxter International by 4.0% during the fourth quarter. Boston Common Asset Management LLC now owns 108,711 shares of the medical instruments supplier’s stock valued at $7,027,000 after acquiring an additional 4,184 shares during the last quarter. 84.96% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have commented on BAX. Citigroup increased their target price on Baxter International from $66.00 to $70.00 and gave the company a “neutral” rating in a report on Tuesday, February 6th. Royal Bank of Canada reissued a “hold” rating and set a $72.00 target price on shares of Baxter International in a report on Friday, February 2nd. Barclays increased their target price on Baxter International from $73.00 to $77.00 and gave the company an “overweight” rating in a report on Friday, February 2nd. BMO Capital Markets increased their price target on Baxter International from $74.00 to $77.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. Finally, Zacks Investment Research raised Baxter International from a “sell” rating to a “hold” rating in a report on Thursday, January 4th. Seven analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. Baxter International currently has an average rating of “Buy” and an average target price of $70.36.
Baxter International Inc (BAX) opened at $66.33 on Monday. The firm has a market capitalization of $36,138.70, a P/E ratio of 51.42, a P/E/G ratio of 1.91 and a beta of 0.78. Baxter International Inc has a 52-week low of $49.30 and a 52-week high of $72.58. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.80 and a quick ratio of 2.22.
Baxter International (NYSE:BAX) last issued its quarterly earnings data on Thursday, February 1st. The medical instruments supplier reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.05. The company had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.77 billion. Baxter International had a return on equity of 15.12% and a net margin of 6.79%. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.57 earnings per share. analysts anticipate that Baxter International Inc will post 2.78 EPS for the current fiscal year.
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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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