State of Tennessee Treasury Department raised its position in Baxter International Inc (NYSE:BAX) by 0.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 942,245 shares of the medical instruments supplier’s stock after purchasing an additional 6,597 shares during the quarter. State of Tennessee Treasury Department owned 0.18% of Baxter International worth $76,614,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of BAX. Gantzert Investment Co. LLC ADV acquired a new stake in Baxter International during the fourth quarter worth approximately $25,000. Parisi Gray Wealth Management acquired a new stake in Baxter International during the fourth quarter worth approximately $26,000. C J Advisory Inc acquired a new stake in Baxter International during the first quarter worth approximately $28,000. Sontag Advisory LLC acquired a new stake in Baxter International during the fourth quarter worth approximately $30,000. Finally, Baldwin Brothers Inc. MA grew its stake in Baxter International by 904.0% during the fourth quarter. Baldwin Brothers Inc. MA now owns 502 shares of the medical instruments supplier’s stock worth $33,000 after purchasing an additional 452 shares during the period. Hedge funds and other institutional investors own 83.99% of the company’s stock.
Baxter International stock traded up $0.23 during mid-day trading on Friday, reaching $81.90. 2,603,060 shares of the company’s stock were exchanged, compared to its average volume of 2,878,148. The business has a fifty day simple moving average of $77.30. The company has a market capitalization of $41.13 billion, a price-to-earnings ratio of 26.85, a PEG ratio of 1.90 and a beta of 0.94. Baxter International Inc has a one year low of $61.05 and a one year high of $82.80. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.83 and a quick ratio of 1.30.
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 7th will be issued a dividend of $0.22 per share. This is a positive change from Baxter International’s previous quarterly dividend of $0.19. This represents a $0.88 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date is Thursday, June 6th. Baxter International’s dividend payout ratio (DPR) is 28.85%.
In other Baxter International news, Director Peter S. Hellman sold 5,680 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $81.89, for a total value of $465,135.20. Following the completion of the sale, the director now directly owns 28,774 shares of the company’s stock, valued at $2,356,302.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Jacqueline Kunzler sold 593 shares of the firm’s stock in a transaction on Wednesday, June 19th. The stock was sold at an average price of $80.46, for a total value of $47,712.78. Following the completion of the sale, the senior vice president now directly owns 9,023 shares of the company’s stock, valued at $725,990.58. The disclosure for this sale can be found here. Insiders have sold 5,008,593 shares of company stock worth $382,542,285 over the last quarter. 0.70% of the stock is currently owned by corporate insiders.
BAX has been the subject of a number of research reports. Morgan Stanley raised their price objective on Baxter International from $80.00 to $83.00 and gave the company an “overweight” rating in a research note on Tuesday, March 5th. Zacks Investment Research raised Baxter International from a “hold” rating to a “buy” rating and set a $86.00 price objective for the company in a research note on Tuesday, March 19th. Wells Fargo & Co raised their price objective on Baxter International from $80.00 to $89.00 and gave the company an “outperform” rating in a research note on Wednesday, April 3rd. Barclays raised their price objective on Baxter International from $72.00 to $75.00 and gave the company an “equal weight” rating in a research note on Monday, April 15th. Finally, Cowen set a $75.00 price objective on Baxter International and gave the company a “hold” rating in a research note on Monday, April 22nd. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $79.20.
About Baxter International
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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