L & S Advisors Inc acquired a new position in shares of Baxter International Inc. (NYSE:BAX) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor acquired 89,614 shares of the medical instruments supplier’s stock, valued at approximately $5,623,000.
Other hedge funds also recently made changes to their positions in the company. Baker Ellis Asset Management LLC purchased a new position in Baxter International in the second quarter valued at approximately $109,000. Grove Bank & Trust raised its stake in shares of Baxter International by 526.0% during the third quarter. Grove Bank & Trust now owns 2,285 shares of the medical instruments supplier’s stock valued at $143,000 after purchasing an additional 1,920 shares during the period. Acrospire Investment Management LLC raised its stake in shares of Baxter International by 71.3% during the second quarter. Acrospire Investment Management LLC now owns 2,402 shares of the medical instruments supplier’s stock valued at $145,000 after purchasing an additional 1,000 shares during the period. Harvest Fund Management Co. Ltd raised its stake in shares of Baxter International by 8.4% during the second quarter. Harvest Fund Management Co. Ltd now owns 2,928 shares of the medical instruments supplier’s stock valued at $177,000 after purchasing an additional 226 shares during the period. Finally, Captrust Financial Advisors purchased a new stake in shares of Baxter International during the second quarter valued at approximately $188,000. Institutional investors and hedge funds own 83.59% of the company’s stock.
Baxter International Inc. (BAX) traded down $0.30 during trading on Thursday, reaching $63.72. 2,387,000 shares of the company’s stock were exchanged, compared to its average volume of 2,697,451. The firm has a market capitalization of $34,880.13, a P/E ratio of 26.45, a PEG ratio of 2.14 and a beta of 0.69. The company has a current ratio of 2.80, a quick ratio of 2.22 and a debt-to-equity ratio of 0.37. Baxter International Inc. has a 1 year low of $43.13 and a 1 year high of $66.18.
Baxter International (NYSE:BAX) last released its quarterly earnings data on Wednesday, October 25th. The medical instruments supplier reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.05. The firm had revenue of $2.71 billion during the quarter, compared to the consensus estimate of $2.66 billion. Baxter International had a net margin of 9.88% and a return on equity of 15.00%. The firm’s revenue was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.56 earnings per share. research analysts predict that Baxter International Inc. will post 2.43 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 1st will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date is Thursday, November 30th. Baxter International’s dividend payout ratio is presently 34.41%.
BAX has been the topic of a number of analyst reports. Royal Bank Of Canada reiterated a “hold” rating and set a $60.00 price objective on shares of Baxter International in a research note on Friday, September 1st. Morgan Stanley raised their price target on shares of Baxter International from $59.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 26th. Zacks Investment Research raised shares of Baxter International from a “hold” rating to a “buy” rating and set a $69.00 price target for the company in a research report on Tuesday, October 10th. Barclays raised their price target on shares of Baxter International from $70.00 to $73.00 and gave the stock an “overweight” rating in a research report on Thursday, October 26th. Finally, Bank of America reissued a “hold” rating on shares of Baxter International in a research report on Wednesday, November 22nd. Seven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $67.46.
In other Baxter International news, Director Third Point Llc sold 5,000,000 shares of the firm’s stock in a transaction on Monday, November 6th. The stock was sold at an average price of $64.23, for a total value of $321,150,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Jeanne K. Mason sold 33,350 shares of the firm’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $65.25, for a total value of $2,176,087.50. Following the completion of the sale, the senior vice president now owns 124,609 shares in the company, valued at $8,130,737.25. The disclosure for this sale can be found here. Insiders own 0.05% of the company’s stock.
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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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