Financial Advisory Group raised its stake in shares of Baxter International Inc. (NYSE:BAX) by 174.7% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,640 shares of the medical instruments supplier’s stock after purchasing an additional 9,946 shares during the period. Baxter International accounts for approximately 0.8% of Financial Advisory Group’s holdings, making the stock its 13th biggest position. Financial Advisory Group’s holdings in Baxter International were worth $2,410,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Baker Ellis Asset Management LLC bought a new position in shares of Baxter International during the 2nd quarter valued at about $109,000. Acrospire Investment Management LLC raised its position in shares of Baxter International by 71.3% during the 2nd quarter. Acrospire Investment Management LLC now owns 2,402 shares of the medical instruments supplier’s stock valued at $145,000 after buying an additional 1,000 shares in the last quarter. Harvest Fund Management Co. Ltd raised its position in shares of Baxter International by 8.4% during the 2nd quarter. Harvest Fund Management Co. Ltd now owns 2,928 shares of the medical instruments supplier’s stock valued at $177,000 after buying an additional 226 shares in the last quarter. Captrust Financial Advisors purchased a new stake in shares of Baxter International during the 2nd quarter valued at about $188,000. Finally, Hutner Capital Management Inc. purchased a new stake in shares of Baxter International during the 3rd quarter valued at about $203,000. 83.49% of the stock is owned by institutional investors and hedge funds.
In other Baxter International news, Director John D. Forsyth sold 9,440 shares of the company’s stock in a transaction dated Friday, August 25th. The shares were sold at an average price of $61.76, for a total value of $583,014.40. Following the transaction, the director now directly owns 32,444 shares in the company, valued at approximately $2,003,741.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Third Point Llc sold 5,000,000 shares of the company’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $64.23, for a total transaction of $321,150,000.00. The disclosure for this sale can be found here. Insiders sold a total of 5,022,380 shares of company stock worth $322,536,224 over the last three months. 0.05% of the stock is currently owned by corporate insiders.
Baxter International (NYSE:BAX) last posted its quarterly earnings data on Wednesday, October 25th. The medical instruments supplier reported $0.64 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.05. Baxter International had a net margin of 9.88% and a return on equity of 15.00%. The company had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.66 billion. During the same period in the prior year, the company posted $0.56 EPS. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. equities analysts predict that Baxter International Inc. will post 2.43 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 1st will be given 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 (DPR) is currently 34.59%.
Several brokerages have recently issued reports on BAX. Cowen and Company restated a “market perform” rating and set a $68.00 target price (up from $66.00) on shares of Baxter International in a research report on Thursday, July 27th. Cantor Fitzgerald set a $70.00 target price on shares of Baxter International and gave the company a “buy” rating in a research report on Wednesday, July 26th. Citigroup Inc. began coverage on shares of Baxter International in a research report on Thursday, August 17th. They set a “neutral” rating and a $63.00 target price on the stock. Royal Bank Of Canada restated a “hold” rating and set a $60.00 target price on shares of Baxter International in a research report on Tuesday, October 3rd. Finally, Leerink Swann restated an “outperform” rating and set a $75.00 target price (up from $67.00) on shares of Baxter International in a research report on Thursday, July 27th. Six research analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. Baxter International presently has a consensus rating of “Buy” and a consensus price target of $67.00.
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About Baxter International
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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