Klingenstein Fields & Co. LLC Has $1.47 Million Stake in Baxter International Inc (BAX)

Klingenstein Fields & Co. LLC lessened its position in shares of Baxter International Inc (NYSE:BAX) by 1.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 18,104 shares of the medical instruments supplier’s stock after selling 200 shares during the quarter. Klingenstein Fields & Co. LLC’s holdings in Baxter International were worth $1,472,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc increased its holdings in Baxter International by 1.3% in the 3rd quarter. Vanguard Group Inc now owns 36,398,931 shares of the medical instruments supplier’s stock valued at $2,805,993,000 after purchasing an additional 470,198 shares during the last quarter. Morgan Stanley increased its holdings in Baxter International by 267.9% in the 3rd quarter. Morgan Stanley now owns 10,570,520 shares of the medical instruments supplier’s stock valued at $814,880,000 after purchasing an additional 7,697,267 shares during the last quarter. Northern Trust Corp increased its holdings in Baxter International by 1.6% in the 4th quarter. Northern Trust Corp now owns 8,615,513 shares of the medical instruments supplier’s stock valued at $567,073,000 after purchasing an additional 136,476 shares during the last quarter. Norges Bank acquired a new stake in Baxter International in the 4th quarter valued at approximately $549,458,000. Finally, Geode Capital Management LLC increased its holdings in Baxter International by 4.8% in the 4th quarter. Geode Capital Management LLC now owns 6,444,204 shares of the medical instruments supplier’s stock valued at $423,409,000 after purchasing an additional 297,006 shares during the last quarter. 86.44% of the stock is currently owned by hedge funds and other institutional investors.

In related news, SVP Jeanne K. Mason sold 37,274 shares of the business’s stock in a transaction on Thursday, January 31st. The shares were sold at an average price of $72.00, for a total value of $2,683,728.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Giuseppe Accogli sold 38,297 shares of the business’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $76.78, for a total transaction of $2,940,443.66. Following the completion of the sale, the senior vice president now directly owns 70,001 shares of the company’s stock, valued at $5,374,676.78. The disclosure for this sale can be found here. Over the last three months, insiders sold 95,099 shares of company stock valued at $7,175,949. 0.70% of the stock is owned by corporate insiders.

BAX has been the subject of several research reports. Barclays lifted their target price on shares of Baxter International from $72.00 to $75.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. Morgan Stanley upgraded shares of Baxter International from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $66.00 to $77.00 in a research note on Wednesday, January 2nd. Citigroup upgraded shares of Baxter International from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $69.00 to $76.00 in a research note on Wednesday, January 2nd. Zacks Investment Research upgraded shares of Baxter International from a “hold” rating to a “buy” rating and set a $74.00 price target for the company in a research note on Wednesday, January 2nd. Finally, Piper Jaffray Companies restated an “overweight” rating and issued a $80.00 price target on shares of Baxter International in a research note on Friday, February 1st. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $78.12.

Shares of Baxter International stock traded down $0.76 during trading on Monday, hitting $75.42. 109,449 shares of the stock were exchanged, compared to its average volume of 3,061,491. The stock has a market cap of $38.94 billion, a P/E ratio of 24.69, a price-to-earnings-growth ratio of 1.83 and a beta of 1.02. Baxter International Inc has a 12-month low of $61.05 and a 12-month high of $82.25. The company has a current ratio of 2.09, a quick ratio of 1.50 and a debt-to-equity ratio of 0.44.

Baxter International (NYSE:BAX) last announced its quarterly earnings results on Thursday, April 25th. The medical instruments supplier reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.08. Baxter International had a net margin of 14.27% and a return on equity of 19.50%. The firm had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.61 billion. During the same period in the previous year, the company earned $0.70 earnings per share. Baxter International’s quarterly revenue was down 1.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Baxter International Inc will post 3.31 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 1st were given a $0.19 dividend. The ex-dividend date of this dividend was Thursday, February 28th. This represents a $0.76 dividend on an annualized basis and a yield of 1.01%. Baxter International’s dividend payout ratio (DPR) is presently 24.92%.

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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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Institutional Ownership by Quarter for Baxter International (NYSE:BAX)

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