Teachers Advisors LLC trimmed its holdings in Baxter International Inc (NYSE:BAX) by 1.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,527,226 shares of the medical instruments supplier’s stock after selling 17,027 shares during the period. Teachers Advisors LLC’s holdings in Baxter International were worth $98,720,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in the business. Winslow Capital Management LLC acquired a new stake in shares of Baxter International during the 4th quarter valued at approximately $178,651,000. HealthCor Management L.P. acquired a new stake in shares of Baxter International during the 4th quarter valued at approximately $111,504,000. Amundi Pioneer Asset Management Inc. acquired a new stake in shares of Baxter International during the 4th quarter valued at approximately $74,517,000. Renaissance Technologies LLC raised its position in shares of Baxter International by 217.6% during the 4th quarter. Renaissance Technologies LLC now owns 1,486,913 shares of the medical instruments supplier’s stock valued at $96,114,000 after acquiring an additional 1,018,800 shares in the last quarter. Finally, Old Mutual Global Investors UK Ltd. raised its position in shares of Baxter International by 18.1% during the 4th quarter. Old Mutual Global Investors UK Ltd. now owns 3,098,384 shares of the medical instruments supplier’s stock valued at $200,279,000 after acquiring an additional 474,520 shares in the last quarter. 85.56% of the stock is currently owned by institutional investors.
In other news, Director Carole J. Shapazian sold 4,990 shares of the stock in a transaction on Friday, March 2nd. The stock was sold at an average price of $66.05, for a total value of $329,589.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Giuseppe Accogli sold 28,641 shares of the stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $67.00, for a total value of $1,918,947.00. The disclosure for this sale can be found here. 0.05% of the stock is owned by corporate insiders.
Baxter International Inc (NYSE:BAX) opened at $68.09 on Wednesday. The company has a market capitalization of $36,999.51, a price-to-earnings ratio of 52.78, a P/E/G ratio of 1.97 and a beta of 0.82. The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.05 and a current ratio of 2.57. Baxter International Inc has a 52 week low of $51.03 and a 52 week high of $72.58.
Baxter International (NYSE:BAX) last issued its quarterly earnings data on Thursday, February 1st. The medical instruments supplier reported $0.64 EPS for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.05. The firm had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.77 billion. Baxter International had a return on equity of 15.11% and a net margin of 6.79%. The firm’s revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.57 EPS. analysts anticipate that Baxter International Inc will post 2.78 earnings per share for the current year.
Baxter International declared that its board has initiated a stock buyback program on Tuesday, February 20th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the medical instruments supplier to buy shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s board believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Investors of record on Friday, March 2nd will be paid a dividend of $0.16 per share. The ex-dividend date is Thursday, March 1st. This represents a $0.64 dividend on an annualized basis and a yield of 0.94%. Baxter International’s payout ratio is currently 49.61%.
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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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