Trust Co. of Virginia VA trimmed its stake in Baxter International Inc (NYSE:BAX) by 7.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,726 shares of the medical instruments supplier’s stock after selling 214 shares during the period. Trust Co. of Virginia VA’s holdings in Baxter International were worth $235,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in BAX. Quadrant Capital Group LLC grew its position in Baxter International by 13.4% in the fourth quarter. Quadrant Capital Group LLC now owns 2,812 shares of the medical instruments supplier’s stock valued at $216,000 after acquiring an additional 332 shares during the period. Guggenheim Capital LLC grew its holdings in shares of Baxter International by 26.4% during the fourth quarter. Guggenheim Capital LLC now owns 107,138 shares of the medical instruments supplier’s stock worth $8,958,000 after purchasing an additional 22,378 shares during the last quarter. Verus Capital Partners LLC bought a new stake in shares of Baxter International during the fourth quarter worth $68,000. Macquarie Group Ltd. grew its holdings in shares of Baxter International by 1,338.4% during the fourth quarter. Macquarie Group Ltd. now owns 240,918 shares of the medical instruments supplier’s stock worth $20,145,000 after purchasing an additional 224,169 shares during the last quarter. Finally, Franklin Resources Inc. grew its holdings in shares of Baxter International by 12.5% during the fourth quarter. Franklin Resources Inc. now owns 995,535 shares of the medical instruments supplier’s stock worth $83,246,000 after purchasing an additional 110,424 shares during the last quarter. Hedge funds and other institutional investors own 83.74% of the company’s stock.
Shares of Baxter International stock opened at $86.38 on Friday. The business’s 50 day simple moving average is $86.00 and its 200 day simple moving average is $86.95. Baxter International Inc has a 52-week low of $69.10 and a 52-week high of $95.19. The firm has a market cap of $43.81 billion, a PE ratio of 26.10, a P/E/G ratio of 2.75 and a beta of 0.84. The company has a debt-to-equity ratio of 0.84, a quick ratio of 2.19 and a current ratio of 2.74.
Baxter International (NYSE:BAX) last announced its earnings results on Thursday, July 30th. The medical instruments supplier reported $0.64 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.71 by ($0.07). Baxter International had a net margin of 8.10% and a return on equity of 21.02%. The firm had revenue of $2.72 billion during the quarter, compared to analyst estimates of $2.86 billion. During the same period in the prior year, the business posted $0.89 EPS. The firm’s quarterly revenue was down 4.3% compared to the same quarter last year. As a group, equities research analysts predict that Baxter International Inc will post 3.05 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Monday, August 31st will be paid a $0.245 dividend. The ex-dividend date is Friday, August 28th. This represents a $0.98 dividend on an annualized basis and a yield of 1.13%. Baxter International’s dividend payout ratio is 29.61%.
Several brokerages have recently commented on BAX. Barclays restated a “hold” rating and set a $84.00 target price on shares of Baxter International in a report on Tuesday, April 14th. Wells Fargo & Co increased their target price on Baxter International from $92.00 to $104.00 and gave the stock an “overweight” rating in a report on Monday, April 20th. UBS Group increased their target price on Baxter International from $95.00 to $103.00 and gave the stock a “buy” rating in a report on Friday, May 1st. Zacks Investment Research cut Baxter International from a “hold” rating to a “sell” rating and set a $93.00 price target on the stock. in a report on Tuesday, July 7th. Finally, Morgan Stanley decreased their price target on Baxter International from $95.00 to $90.00 and set an “equal weight” rating on the stock in a report on Friday. One analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $96.72.
In other Baxter International news, SVP Giuseppe Accogli sold 72,341 shares of the firm’s stock in a transaction that occurred on Friday, June 19th. The stock was sold at an average price of $85.00, for a total value of $6,148,985.00. Following the completion of the transaction, the senior vice president now directly owns 76,473 shares in the company, valued at $6,500,205. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Andrew Frye sold 3,742 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $91.00, for a total value of $340,522.00. Following the completion of the transaction, the senior vice president now owns 16,216 shares of the company’s stock, valued at $1,475,656. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 77,583 shares of company stock valued at $6,613,932. Corporate insiders own 0.13% of the company’s stock.
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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