Parametric Portfolio Associates LLC decreased its position in Baxter International Inc (NYSE:BAX) by 0.1% during the 2nd quarter, Holdings Channel reports. The fund owned 1,798,533 shares of the medical instruments supplier’s stock after selling 1,878 shares during the quarter. Parametric Portfolio Associates LLC’s holdings in Baxter International were worth $147,300,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also recently modified their holdings of the company. Weaver Consulting Group purchased a new stake in Baxter International in the 1st quarter valued at approximately $25,000. Personal Wealth Partners acquired a new position in Baxter International during the 2nd quarter worth approximately $29,000. TRUE Private Wealth Advisors purchased a new position in shares of Baxter International during the 2nd quarter worth approximately $29,000. Evolution Wealth Advisors LLC purchased a new position in shares of Baxter International during the 2nd quarter worth approximately $32,000. Finally, Manchester Financial Inc. acquired a new stake in shares of Baxter International in the 2nd quarter valued at approximately $37,000. 83.42% of the stock is currently owned by institutional investors and hedge funds.
In other news, SVP Jacqueline Kunzler sold 5,934 shares of the stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $88.12, for a total value of $522,904.08. Following the sale, the senior vice president now directly owns 3,089 shares in the company, valued at $272,202.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James R. Gavin III sold 7,950 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $87.63, for a total transaction of $696,658.50. Following the completion of the sale, the director now owns 40,932 shares in the company, valued at $3,586,871.16. The disclosure for this sale can be found here. Insiders have sold a total of 15,797 shares of company stock valued at $1,370,513 over the last 90 days. 0.70% of the stock is currently owned by insiders.
Baxter International stock traded up $0.64 during trading hours on Wednesday, hitting $86.55. The stock had a trading volume of 186,760 shares, compared to its average volume of 2,036,754. Baxter International Inc has a 1-year low of $61.05 and a 1-year high of $89.93. The stock has a market capitalization of $44.56 billion, a price-to-earnings ratio of 28.56, a PEG ratio of 2.02 and a beta of 1.00. The stock’s fifty day moving average is $86.23 and its two-hundred day moving average is $80.04. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.78 and a quick ratio of 2.10.
Baxter International (NYSE:BAX) last released its quarterly earnings results on Thursday, July 25th. The medical instruments supplier reported $0.89 earnings per share (EPS) 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 the consensus estimate of $2.80 billion. During the same quarter in the previous year, the company posted $0.77 EPS. The business’s revenue was down .1% on a year-over-year basis. As a group, sell-side analysts anticipate that Baxter International Inc will post 3.37 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, August 30th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, August 29th. This represents a $0.88 annualized dividend and a yield of 1.02%. Baxter International’s dividend payout ratio (DPR) is currently 28.85%.
BAX has been the topic of a number of analyst reports. Royal Bank of Canada set a $87.00 price target on Baxter International and gave the company a “hold” rating in a research note on Friday, July 26th. KeyCorp started coverage on Baxter International in a report on Tuesday, June 25th. They set a “sector weight” rating on the stock. BMO Capital Markets raised their target price on Baxter International to $95.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Piper Jaffray Companies boosted their target price on shares of Baxter International from $90.00 to $95.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Finally, Credit Suisse Group upped their price target on shares of Baxter International from $84.00 to $95.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $85.27.
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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