Tredje AP fonden lessened its holdings in shares of Baxter International Inc (NYSE:BAX) by 21.8% during the first quarter, Holdings Channel.com reports. The firm owned 35,373 shares of the medical instruments supplier’s stock after selling 9,863 shares during the quarter. Tredje AP fonden’s holdings in Baxter International were worth $3,503,000 at the end of the most recent quarter.
Several other large investors have also modified their holdings of BAX. National Asset Management Inc. lifted its holdings in Baxter International by 37.6% in the first quarter. National Asset Management Inc. now owns 3,642 shares of the medical instruments supplier’s stock valued at $296,000 after buying an additional 995 shares during the period. Royal Fund Management LLC acquired a new position in Baxter International in the first quarter valued at $54,000. Northwestern Mutual Investment Management Company LLC lifted its holdings in Baxter International by 34.3% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 26,631 shares of the medical instruments supplier’s stock valued at $2,162,000 after buying an additional 6,798 shares during the period. AGF Investments Inc. acquired a new position in Baxter International in the first quarter valued at $1,695,000. Finally, Commerce Bank lifted its holdings in Baxter International by 1.5% in the first quarter. Commerce Bank now owns 61,140 shares of the medical instruments supplier’s stock valued at $4,964,000 after buying an additional 889 shares during the period. Institutional investors own 83.95% of the company’s stock.
In other news, SVP Jeanne K. Mason sold 47,146 shares of the business’s stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $93.13, for a total transaction of $4,390,706.98. Following the completion of the sale, the senior vice president now directly owns 163,485 shares of the company’s stock, valued at $15,225,358.05. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Sean Martin bought 9,780 shares of the firm’s stock in a transaction dated Monday, March 30th. The shares were acquired at an average cost of $82.19 per share, with a total value of $803,818.20. Following the completion of the transaction, the senior vice president now owns 39,504 shares of the company’s stock, valued at $3,246,833.76. The disclosure for this purchase can be found here. Insiders own 0.13% of the company’s stock.
Baxter International (NYSE:BAX) last posted its earnings results on Thursday, April 30th. The medical instruments supplier reported $0.82 EPS for the quarter, topping the consensus estimate of $0.73 by $0.09. The company had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.74 billion. Baxter International had a net margin of 8.85% and a return on equity of 22.70%. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.76 earnings per share. On average, analysts anticipate that Baxter International Inc will post 3.29 EPS for the current fiscal year.
The firm 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 is Thursday, June 4th. This is an increase from Baxter International’s previous quarterly dividend of $0.22. This represents a $0.98 annualized dividend and a dividend yield of 1.13%. Baxter International’s payout ratio is presently 26.59%.
Several equities analysts recently issued reports on BAX shares. Cfra boosted their target price on shares of Baxter International from $87.00 to $93.00 and gave the company a “hold” rating in a report on Thursday, February 6th. Barclays restated a “hold” rating and issued a $84.00 target price on shares of Baxter International in a report on Tuesday, April 14th. UBS Group boosted their target price on shares of Baxter International from $95.00 to $103.00 and gave the company a “buy” rating in a report on Friday, May 1st. Raymond James boosted their target price on shares of Baxter International from $90.00 to $97.00 and gave the company an “outperform” rating in a report on Monday, April 13th. Finally, Goldman Sachs Group began coverage on shares of Baxter International in a report on Wednesday, February 12th. They issued a “buy” rating and a $104.00 target price on the stock. Six equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Baxter International has a consensus rating of “Buy” and an average target price of $95.90.
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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