Camden National Bank boosted its position in shares of Baxter International Inc (NYSE:BAX) by 14.9% in the third quarter, HoldingsChannel.com reports. The fund owned 3,092 shares of the medical instruments supplier’s stock after purchasing an additional 400 shares during the period. Camden National Bank’s holdings in Baxter International were worth $270,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Weaver Consulting Group purchased a new position in Baxter International during the 1st quarter valued at about $25,000. Old North State Trust LLC purchased a new position in shares of Baxter International in the 3rd quarter valued at about $31,000. Personal Wealth Partners purchased a new position in shares of Baxter International in the 2nd quarter valued at about $29,000. TRUE Private Wealth Advisors purchased a new position in shares of Baxter International in the 2nd quarter valued at about $29,000. Finally, Evolution Wealth Advisors LLC purchased a new position in shares of Baxter International in the 2nd quarter valued at about $32,000. Institutional investors own 83.44% of the company’s stock.
Several equities analysts have recently issued reports on the company. Barclays set a $82.00 price objective on Baxter International and gave the company a “hold” rating in a research note on Friday, July 26th. Zacks Investment Research upgraded Baxter International from a “hold” rating to a “buy” rating and set a $86.00 price objective for the company in a research note on Friday, June 21st. Credit Suisse Group lifted their price objective on Baxter International from $84.00 to $95.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Raymond James lifted their price objective on Baxter International from $84.00 to $95.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Finally, ValuEngine cut Baxter International from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of $85.27.
In related news, Director James R. Gavin III sold 7,950 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Jacqueline Kunzler sold 5,934 shares of Baxter International 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 transaction, the senior vice president now directly owns 3,089 shares in the company, valued at approximately $272,202.68. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,064 shares of company stock valued at $1,235,359. 0.70% of the stock is owned by company insiders.
BAX stock traded up $0.42 during trading on Friday, hitting $88.03. 2,278,262 shares of the company’s stock were exchanged, compared to its average volume of 2,627,543. The business has a 50-day moving average price of $86.97 and a two-hundred day moving average price of $81.63. The stock has a market capitalization of $45.20 billion, a price-to-earnings ratio of 28.86, a PEG ratio of 1.97 and a beta of 0.99. 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.
Baxter International (NYSE:BAX) last posted its earnings results 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. The firm had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.80 billion. Baxter International had a return on equity of 21.21% and a net margin of 14.28%. The firm’s revenue was down .1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.77 earnings per share. On average, equities research analysts anticipate that Baxter International Inc will post 3.37 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, August 30th were paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.00%. The ex-dividend date was Thursday, August 29th. Baxter International’s payout ratio is 28.85%.
Baxter International Company 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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