Griffin Asset Management Inc. reduced its stake in Baxter International Inc (NYSE:BAX) by 13.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,495 shares of the medical instruments supplier’s stock after selling 1,050 shares during the quarter. Griffin Asset Management Inc.’s holdings in Baxter International were worth $408,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently modified their holdings of the company. Dupont Capital Management Corp purchased a new position in Baxter International in the 2nd quarter worth approximately $2,641,000. LMR Partners LLP purchased a new position in Baxter International in the 2nd quarter worth approximately $2,575,000. Alps Advisors Inc. raised its holdings in Baxter International by 0.5% in the 2nd quarter. Alps Advisors Inc. now owns 10,261 shares of the medical instruments supplier’s stock worth $621,000 after acquiring an additional 52 shares during the last quarter. Blair William & Co. IL raised its holdings in Baxter International by 5.2% in the 2nd quarter. Blair William & Co. IL now owns 64,603 shares of the medical instruments supplier’s stock worth $3,911,000 after acquiring an additional 3,195 shares during the last quarter. Finally, iAB Financial Bank raised its holdings in Baxter International by 5.9% in the 2nd quarter. iAB Financial Bank now owns 9,855 shares of the medical instruments supplier’s stock worth $597,000 after acquiring an additional 550 shares during the last quarter. 84.18% of the stock is currently owned by hedge funds and other institutional investors.
In other Baxter International news, Director Third Point Llc sold 5,000,000 shares of the business’s stock in a transaction on Monday, November 6th. The shares were sold at an average price of $64.23, for a total transaction of $321,150,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Jeanne K. Mason sold 33,350 shares of the business’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $65.25, for a total transaction of $2,176,087.50. Following the sale, the senior vice president now owns 124,609 shares of the company’s stock, valued at $8,130,737.25. The disclosure for this sale can be found here. 0.05% of the stock is currently owned by insiders.
Baxter International (NYSE:BAX) last announced its earnings results on Wednesday, October 25th. The medical instruments supplier reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.05. The business had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.66 billion. Baxter International had a net margin of 9.88% and a return on equity of 15.00%. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.56 EPS. equities research analysts predict that Baxter International Inc will post 2.43 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 1st will be paid a dividend of $0.16 per share. The ex-dividend date is Thursday, November 30th. This represents a $0.64 dividend on an annualized basis and a yield of 1.00%. Baxter International’s dividend payout ratio is presently 34.41%.
A number of equities analysts recently weighed in on the stock. Bank of America restated a “hold” rating on shares of Baxter International in a report on Wednesday, November 22nd. Royal Bank of Canada restated a “hold” rating and issued a $66.00 price objective on shares of Baxter International in a report on Wednesday, November 22nd. Stifel Nicolaus restated a “hold” rating and issued a $65.00 price objective on shares of Baxter International in a report on Thursday, October 26th. Barclays boosted their price objective on shares of Baxter International from $70.00 to $73.00 and gave the stock an “overweight” rating in a report on Thursday, October 26th. Finally, Morgan Stanley boosted their price objective on shares of Baxter International from $59.00 to $62.00 and gave the stock an “equal weight” rating in a report on Thursday, October 26th. Seven investment analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the company. Baxter International currently has a consensus rating of “Buy” and an average target price of $67.46.
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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