Pictet Asset Management Ltd. Has $23.21 Million Stock Position in Baxter International Inc (NYSE:BAX)

Pictet Asset Management Ltd. lowered its stake in Baxter International Inc (NYSE:BAX) by 2.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 283,379 shares of the medical instruments supplier’s stock after selling 5,642 shares during the period. Pictet Asset Management Ltd. owned 0.06% of Baxter International worth $23,209,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. BlackRock Inc. raised its stake in shares of Baxter International by 3.2% during the first quarter. BlackRock Inc. now owns 40,028,474 shares of the medical instruments supplier’s stock valued at $3,254,714,000 after acquiring an additional 1,259,763 shares during the last quarter. Northern Trust Corp raised its stake in shares of Baxter International by 0.6% during the second quarter. Northern Trust Corp now owns 8,758,537 shares of the medical instruments supplier’s stock valued at $717,323,000 after acquiring an additional 54,889 shares during the last quarter. Veritas Asset Management LLP raised its stake in shares of Baxter International by 0.5% during the second quarter. Veritas Asset Management LLP now owns 7,886,549 shares of the medical instruments supplier’s stock valued at $645,908,000 after acquiring an additional 35,600 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Baxter International by 4.8% during the fourth quarter. Geode Capital Management LLC now owns 6,444,204 shares of the medical instruments supplier’s stock valued at $423,409,000 after acquiring an additional 297,006 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec raised its stake in shares of Baxter International by 43.4% during the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 6,430,469 shares of the medical instruments supplier’s stock valued at $526,655,000 after acquiring an additional 1,945,800 shares during the last quarter. Hedge funds and other institutional investors own 83.42% of the company’s stock.

In other news, SVP Jacqueline Kunzler sold 5,934 shares of Baxter International stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $88.12, for a total transaction of $522,904.08. Following the completion of the transaction, the senior vice president now directly owns 3,089 shares in the company, valued at $272,202.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James R. Gavin III sold 7,950 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $87.63, for a total transaction of $696,658.50. Following the transaction, the director now owns 40,932 shares in the company, valued at $3,586,871.16. The disclosure for this sale can be found here. Insiders have sold 14,477 shares of company stock valued at $1,267,275 over the last quarter. Corporate insiders own 0.70% of the company’s stock.

Several equities analysts have recently issued reports on BAX shares. BMO Capital Markets raised their price target on shares of Baxter International to $95.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Piper Jaffray Companies reissued a “buy” rating on shares of Baxter International in a research note on Tuesday. Zacks Investment Research raised shares of Baxter International from a “hold” rating to a “buy” rating and set a $86.00 target price for the company in a research note on Friday, June 21st. Royal Bank of Canada set a $87.00 target price on shares of Baxter International and gave the stock a “hold” rating in a research note on Friday, July 26th. Finally, KeyCorp started coverage on shares of Baxter International in a research note on Tuesday, June 25th. They set a “sector weight” rating for the company. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Baxter International has a consensus rating of “Buy” and a consensus price target of $85.27.

Shares of NYSE BAX traded down $0.17 during mid-day trading on Friday, reaching $87.65. 66,943 shares of the company’s stock traded hands, compared to its average volume of 2,060,176. The stock has a market cap of $44.71 billion, a P/E ratio of 28.72, a PEG ratio of 1.99 and a beta of 1.00. The business has a 50-day simple moving average of $86.31 and a 200 day simple moving average of $80.10. Baxter International Inc has a 1-year low of $61.05 and a 1-year high of $89.93. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.78 and a quick ratio of 2.10.

Baxter International (NYSE:BAX) last issued its quarterly earnings data on Thursday, July 25th. The medical instruments supplier reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.08. The firm had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.80 billion. Baxter International had a net margin of 14.28% and a return on equity of 21.21%. The business’s revenue was down .1% on a year-over-year basis. During the same period last year, the company earned $0.77 earnings per share. Equities research analysts anticipate that Baxter International Inc will post 3.37 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, August 30th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date is Thursday, August 29th. Baxter International’s dividend payout ratio is currently 28.85%.

Baxter International 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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