Scotia Capital Inc. Boosts Stock Position in Baxter International Inc (NYSE:BAX)

Scotia Capital Inc. lifted its position in Baxter International Inc (NYSE:BAX) by 3.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,392 shares of the medical instruments supplier’s stock after purchasing an additional 515 shares during the quarter. Scotia Capital Inc.’s holdings in Baxter International were worth $1,424,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. SeaCrest Wealth Management LLC boosted its holdings in Baxter International by 2.0% during the 2nd quarter. SeaCrest Wealth Management LLC now owns 6,117 shares of the medical instruments supplier’s stock valued at $501,000 after acquiring an additional 122 shares during the period. Baker Ellis Asset Management LLC boosted its holdings in Baxter International by 8.3% during the 2nd quarter. Baker Ellis Asset Management LLC now owns 1,625 shares of the medical instruments supplier’s stock valued at $133,000 after acquiring an additional 125 shares during the period. Boston Private Wealth LLC boosted its holdings in Baxter International by 1.8% during the 2nd quarter. Boston Private Wealth LLC now owns 7,346 shares of the medical instruments supplier’s stock valued at $602,000 after acquiring an additional 129 shares during the period. Brookstone Capital Management boosted its holdings in Baxter International by 4.0% during the 2nd quarter. Brookstone Capital Management now owns 3,422 shares of the medical instruments supplier’s stock valued at $280,000 after acquiring an additional 131 shares during the period. Finally, Cetera Investment Advisers boosted its holdings in Baxter International by 3.1% during the 2nd quarter. Cetera Investment Advisers now owns 4,409 shares of the medical instruments supplier’s stock valued at $360,000 after acquiring an additional 134 shares during the period. Hedge funds and other institutional investors own 83.42% of the company’s stock.

In other Baxter International news, Director James R. Gavin III sold 7,950 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $87.63, for a total value of $696,658.50. Following the completion of the sale, the director now owns 40,932 shares in the company, valued at approximately $3,586,871.16. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Jacqueline Kunzler sold 5,934 shares of the stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $88.12, for a total value of $522,904.08. Following the completion of the sale, the senior vice president now owns 3,089 shares of the company’s stock, valued at approximately $272,202.68. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,477 shares of company stock valued at $1,267,275. Company insiders own 0.70% of the company’s stock.

Several equities research analysts recently weighed in on the company. KeyCorp assumed coverage on Baxter International in a report on Tuesday, June 25th. They set a “sector weight” rating for the company. BMO Capital Markets increased their target price on Baxter International to $95.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Credit Suisse Group increased their target price on Baxter International from $84.00 to $95.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Raymond James increased their target price on Baxter International from $84.00 to $95.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Finally, Piper Jaffray Companies restated a “buy” rating on shares of Baxter International in a report on Tuesday, September 10th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Baxter International currently has a consensus rating of “Buy” and a consensus price target of $85.27.

NYSE BAX traded down $0.89 on Friday, hitting $86.93. The company’s stock had a trading volume of 1,577,338 shares, compared to its average volume of 2,028,399. Baxter International Inc has a 52-week low of $61.05 and a 52-week high of $89.93. The company has a current ratio of 2.78, a quick ratio of 2.10 and a debt-to-equity ratio of 0.72. The company’s 50-day simple moving average is $86.38 and its 200 day simple moving average is $80.16. The firm has a market cap of $44.84 billion, a P/E ratio of 28.50, a PEG ratio of 2.03 and a beta of 1.00.

Baxter International (NYSE:BAX) last released its quarterly earnings data on Thursday, July 25th. The medical instruments supplier reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.08. Baxter International had a return on equity of 21.21% and a net margin of 14.28%. The business had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.80 billion. During the same quarter last year, the business posted $0.77 EPS. The business’s revenue was down .1% on a year-over-year basis. On average, research analysts forecast that Baxter International Inc will post 3.37 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, August 30th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.01%. The ex-dividend date is Thursday, August 29th. Baxter International’s dividend payout ratio (DPR) is currently 28.85%.

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.

Further Reading: What is the return on assets (ROA) ratio?

Institutional Ownership by Quarter for Baxter International (NYSE:BAX)

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