Fmr LLC reduced its holdings in shares of Baxter International Inc (NYSE:BAX) by 14.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 20,572,838 shares of the medical instruments supplier’s stock after selling 3,487,741 shares during the quarter. Fmr LLC’s holdings in Baxter International were worth $1,672,778,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank bought a new stake in Baxter International in the 4th quarter valued at $549,458,000. Oregon Public Employees Retirement Fund boosted its stake in Baxter International by 6,487.4% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,555,596 shares of the medical instruments supplier’s stock valued at $54,000 after purchasing an additional 3,501,620 shares during the period. Lazard Asset Management LLC boosted its stake in Baxter International by 42.7% in the 1st quarter. Lazard Asset Management LLC now owns 5,222,634 shares of the medical instruments supplier’s stock valued at $424,651,000 after purchasing an additional 1,562,529 shares during the period. Mawer Investment Management Ltd. boosted its stake in Baxter International by 114.0% in the 1st quarter. Mawer Investment Management Ltd. now owns 2,622,591 shares of the medical instruments supplier’s stock valued at $213,243,000 after purchasing an additional 1,396,850 shares during the period. Finally, BlackRock Inc. boosted its stake in Baxter International by 3.2% in the 1st quarter. BlackRock Inc. now owns 40,028,474 shares of the medical instruments supplier’s stock valued at $3,254,714,000 after purchasing an additional 1,259,763 shares during the period. Institutional investors own 83.99% of the company’s stock.
Shares of Baxter International stock traded up $0.08 during trading on Monday, reaching $78.01. 12,858 shares of the company’s stock were exchanged, compared to its average volume of 2,129,647. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.30 and a current ratio of 1.83. Baxter International Inc has a 1-year low of $61.05 and a 1-year high of $82.25. The stock has a market capitalization of $39.76 billion, a P/E ratio of 25.59, a price-to-earnings-growth ratio of 1.84 and a beta of 0.94.
Baxter International (NYSE:BAX) last posted its quarterly earnings results on Thursday, April 25th. The medical instruments supplier reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.08. Baxter International had a return on equity of 20.04% and a net margin of 14.27%. The company had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.61 billion. During the same quarter in the previous year, the firm earned $0.70 EPS. Baxter International’s revenue was down 1.7% on a year-over-year basis. On average, research analysts forecast that Baxter International Inc will post 3.32 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 7th will be issued a dividend of $0.22 per share. The ex-dividend date is Thursday, June 6th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.13%. This is a boost from Baxter International’s previous quarterly dividend of $0.19. Baxter International’s payout ratio is 28.85%.
In other news, Director John D. Forsyth sold 1,320 shares of the business’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $78.21, for a total transaction of $103,237.20. Following the completion of the transaction, the director now owns 32,779 shares of the company’s stock, valued at approximately $2,563,645.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Third Point Llc sold 5,000,000 shares of the business’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $76.37, for a total value of $381,850,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 5,017,710 shares of company stock valued at $383,271,372 in the last three months. 0.70% of the stock is owned by insiders.
Several analysts recently issued reports on the company. Wells Fargo & Co boosted their price target on Baxter International from $80.00 to $89.00 and gave the company an “outperform” rating in a research note on Wednesday, April 3rd. JPMorgan Chase & Co. boosted their price target on Baxter International from $80.00 to $88.00 and gave the company an “overweight” rating in a research note on Monday, May 13th. Zacks Investment Research upgraded Baxter International from a “hold” rating to a “buy” rating and set a $86.00 price target for the company in a research note on Wednesday, April 24th. Cowen set a $75.00 price target on Baxter International and gave the company a “hold” rating in a research note on Monday, April 22nd. Finally, Barclays boosted their price target on Baxter International from $72.00 to $75.00 and gave the company an “equal weight” rating in a research note on Monday, April 15th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $78.33.
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Baxter International Profile
Baxter International Inc, through its subsidiaries, develops and provides a portfolio of healthcare products. The company operates through North and South America; Europe, Middle East and Africa; and Asia-Pacific segments. The company 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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