Redwood Investment Management LLC grew its holdings in Baxter International Inc (NYSE:BAX) by 10.6% in the first quarter, HoldingsChannel reports. The institutional investor owned 12,163 shares of the medical instruments supplier’s stock after acquiring an additional 1,167 shares during the period. Redwood Investment Management LLC’s holdings in Baxter International were worth $989,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in the company. BlackRock Inc. raised its stake in shares of 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 buying an additional 1,259,763 shares in the last quarter. Vanguard Group Inc raised its stake in shares of Baxter International by 1.3% in the 3rd quarter. Vanguard Group Inc now owns 36,398,931 shares of the medical instruments supplier’s stock valued at $2,805,993,000 after buying an additional 470,198 shares in the last quarter. Northern Trust Corp raised its stake in shares of Baxter International by 1.0% in the 1st quarter. Northern Trust Corp now owns 8,703,648 shares of the medical instruments supplier’s stock valued at $707,694,000 after buying an additional 88,135 shares in the last quarter. Norges Bank acquired a new position in shares of Baxter International in the 4th quarter valued at $549,458,000. Finally, Veritas Asset Management LLP raised its stake in shares of Baxter International by 1.0% in the 1st quarter. Veritas Asset Management LLP now owns 7,850,949 shares of the medical instruments supplier’s stock valued at $638,361,000 after buying an additional 77,608 shares in the last quarter. Institutional investors own 83.99% of the company’s stock.
Shares of Baxter International stock opened at $78.08 on Monday. The stock has a market cap of $39.76 billion, a P/E ratio of 25.60, a PEG ratio of 1.84 and a beta of 0.94. The company has a quick ratio of 1.30, a current ratio of 1.83 and a debt-to-equity ratio of 0.50. Baxter International Inc has a 12-month low of $61.05 and a 12-month high of $82.25.
Baxter International (NYSE:BAX) last announced its earnings results on Thursday, April 25th. The medical instruments supplier reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.08. The business had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.61 billion. Baxter International had a net margin of 14.27% and a return on equity of 20.04%. The firm’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same quarter last year, the company posted $0.70 EPS. As a group, equities research analysts forecast that Baxter International Inc will post 3.32 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 7th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.13%. The ex-dividend date is Thursday, June 6th. This is a boost from Baxter International’s previous quarterly dividend of $0.19. Baxter International’s dividend payout ratio (DPR) is presently 28.85%.
A number of equities analysts have recently issued reports on BAX shares. Cowen set a $75.00 price objective on shares of Baxter International and gave the company a “hold” rating in a research note on Monday, April 22nd. Morgan Stanley increased their target price on shares of Baxter International from $80.00 to $83.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 5th. Zacks Investment Research upgraded shares of Baxter International from a “hold” rating to a “buy” rating and set a $86.00 target price for the company in a research report on Wednesday, April 24th. JPMorgan Chase & Co. increased their target price on shares of Baxter International from $80.00 to $88.00 and gave the stock an “overweight” rating in a research report on Monday, May 13th. Finally, Barclays increased their target price on shares of Baxter International from $72.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $78.33.
In other Baxter International news, insider Third Point Llc sold 5,000,000 shares of the firm’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $76.37, for a total value of $381,850,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Peter S. Hellman sold 5,680 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $81.89, for a total transaction of $465,135.20. Following the completion of the sale, the director now owns 28,774 shares of the company’s stock, valued at approximately $2,356,302.86. The disclosure for this sale can be found here. Insiders sold a total of 5,017,710 shares of company stock valued at $383,271,372 in the last 90 days. Corporate insiders own 0.70% of the company’s stock.
About Baxter International
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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