Nomura Asset Management Co. Ltd. cut its position in shares of Baxter International Inc (NYSE:BAX) by 35.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 121,910 shares of the medical instruments supplier’s stock after selling 65,771 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Baxter International were worth $9,002,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Old Mutual Global Investors UK Ltd. boosted its stake in Baxter International by 13.0% in the 1st quarter. Old Mutual Global Investors UK Ltd. now owns 3,502,519 shares of the medical instruments supplier’s stock valued at $227,803,000 after buying an additional 404,135 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Baxter International by 13.0% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,795,744 shares of the medical instruments supplier’s stock valued at $132,598,000 after buying an additional 206,256 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in Baxter International by 103.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,652,618 shares of the medical instruments supplier’s stock valued at $107,487,000 after buying an additional 841,733 shares in the last quarter. California Public Employees Retirement System boosted its stake in Baxter International by 3.1% in the 1st quarter. California Public Employees Retirement System now owns 1,516,440 shares of the medical instruments supplier’s stock valued at $98,629,000 after buying an additional 45,295 shares in the last quarter. Finally, Calamos Advisors LLC boosted its stake in Baxter International by 1.6% in the 2nd quarter. Calamos Advisors LLC now owns 1,346,341 shares of the medical instruments supplier’s stock valued at $99,414,000 after buying an additional 20,858 shares in the last quarter. Institutional investors and hedge funds own 83.22% of the company’s stock.
Baxter International stock opened at $71.50 on Friday. The company has a current ratio of 2.62, a quick ratio of 2.03 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $38.50 billion, a price-to-earnings ratio of 26.21, a price-to-earnings-growth ratio of 1.80 and a beta of 0.77. Baxter International Inc has a 52 week low of $59.62 and a 52 week high of $76.51.
Baxter International (NYSE:BAX) last posted its quarterly earnings data on Thursday, July 26th. The medical instruments supplier reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.06. The company had revenue of $2.84 billion for 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 business’s revenue was up 9.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.63 earnings per share. research analysts anticipate that Baxter International Inc will post 2.98 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 1st. Shareholders of record on Friday, August 31st will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date of this dividend is Thursday, August 30th. Baxter International’s dividend payout ratio is currently 30.65%.
In other news, SVP Brik V. Eyre sold 20,000 shares of the company’s stock in a transaction on Tuesday, May 15th. The stock was sold at an average price of $70.57, for a total transaction of $1,411,400.00. Following the transaction, the senior vice president now owns 85,115 shares of the company’s stock, valued at $6,006,565.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Scott Pleau sold 10,686 shares of the company’s stock in a transaction on Tuesday, July 10th. The shares were sold at an average price of $75.00, for a total value of $801,450.00. Following the transaction, the senior vice president now directly owns 26,349 shares in the company, valued at approximately $1,976,175. The disclosure for this sale can be found here. In the last three months, insiders sold 94,877 shares of company stock worth $6,880,155. Insiders own 0.05% of the company’s stock.
BAX has been the topic of several recent analyst reports. Bank of America boosted their price target on Baxter International from $73.00 to $83.00 and gave the company a “buy” rating in a research note on Tuesday, May 22nd. Zacks Investment Research raised Baxter International from a “hold” rating to a “buy” rating and set a $79.00 price target on the stock in a research note on Thursday, May 17th. Royal Bank of Canada reaffirmed a “hold” rating and issued a $76.00 price target on shares of Baxter International in a research note on Friday, July 27th. Stifel Nicolaus boosted their price target on Baxter International from $71.00 to $72.00 and gave the company a “hold” rating in a research note on Monday, April 30th. Finally, Citigroup boosted their price target on Baxter International from $70.00 to $72.00 and gave the company a “neutral” rating in a research note on Monday, April 30th. Six equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $76.00.
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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