Trexquant Investment LP lessened its stake in Baxter International Inc (NYSE:BAX) by 50.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 25,922 shares of the medical instruments supplier’s stock after selling 26,021 shares during the quarter. Trexquant Investment LP’s holdings in Baxter International were worth $2,105,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of BAX. Stifel Financial Corp grew its position in Baxter International by 66.9% in the fourth quarter. Stifel Financial Corp now owns 1,082,066 shares of the medical instruments supplier’s stock worth $91,214,000 after acquiring an additional 433,693 shares during the period. Pearl River Capital LLC grew its position in Baxter International by 316.2% in the fourth quarter. Pearl River Capital LLC now owns 4,162 shares of the medical instruments supplier’s stock worth $348,000 after acquiring an additional 3,162 shares during the period. Delta Asset Management LLC TN grew its position in Baxter International by 2.3% in the fourth quarter. Delta Asset Management LLC TN now owns 157,437 shares of the medical instruments supplier’s stock worth $13,165,000 after acquiring an additional 3,485 shares during the period. Macquarie Group Ltd. grew its position in Baxter International by 1,338.4% in the fourth quarter. Macquarie Group Ltd. now owns 240,918 shares of the medical instruments supplier’s stock worth $20,145,000 after acquiring an additional 224,169 shares during the period. Finally, Creative Planning grew its position in Baxter International by 5.6% in the fourth quarter. Creative Planning now owns 54,644 shares of the medical instruments supplier’s stock worth $4,569,000 after acquiring an additional 2,922 shares during the period. 83.95% of the stock is owned by hedge funds and other institutional investors.
Several brokerages recently weighed in on BAX. Goldman Sachs Group began coverage on Baxter International in a research report on Wednesday, February 12th. They issued a “buy” rating and a $104.00 price objective for the company. Citigroup lowered their price objective on Baxter International from $94.00 to $89.00 and set a “neutral” rating for the company in a research report on Wednesday, March 18th. Barclays reiterated a “hold” rating and issued a $84.00 price objective on shares of Baxter International in a research report on Tuesday, April 14th. SVB Leerink increased their price objective on Baxter International from $96.00 to $105.00 and gave the stock an “outperform” rating in a research report on Friday, May 1st. Finally, Cfra raised their price target on Baxter International from $87.00 to $93.00 and gave the stock a “hold” rating in a research report on Thursday, February 6th. Six analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Baxter International presently has an average rating of “Buy” and a consensus target price of $95.90.
Baxter International stock opened at $86.93 on Friday. Baxter International Inc has a 1-year low of $69.10 and a 1-year high of $95.19. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.74 and a quick ratio of 2.19. The stock has a market cap of $43.90 billion, a PE ratio of 26.26, a P/E/G ratio of 2.39 and a beta of 0.84. The stock’s fifty day moving average is $87.88 and its two-hundred day moving average is $85.45.
Baxter International (NYSE:BAX) last posted its quarterly earnings results on Thursday, April 30th. The medical instruments supplier reported $0.82 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.09. Baxter International had a return on equity of 22.70% and a net margin of 8.85%. The company had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.74 billion. During the same period last year, the firm earned $0.76 earnings per share. Baxter International’s quarterly revenue was up 6.2% on a year-over-year basis. On average, research analysts expect that Baxter International Inc will post 3.29 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Friday, June 5th will be given a dividend of $0.245 per share. The ex-dividend date of this dividend is Thursday, June 4th. This represents a $0.98 dividend on an annualized basis and a dividend yield of 1.13%. This is a boost from Baxter International’s previous quarterly dividend of $0.22. Baxter International’s payout ratio is 26.59%.
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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