Duality Advisers LP Takes $3.25 Million Position in Baxter International Inc (NYSE:BAX)

Duality Advisers LP bought a new position in shares of Baxter International Inc (NYSE:BAX) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 37,757 shares of the medical instruments supplier’s stock, valued at approximately $3,251,000.

Several other large investors have also added to or reduced their stakes in the stock. BlackRock Inc. grew its stake in Baxter International by 1.2% in the first quarter. BlackRock Inc. now owns 41,287,129 shares of the medical instruments supplier’s stock worth $3,352,103,000 after purchasing an additional 491,703 shares in the last quarter. Morgan Stanley grew its position in shares of Baxter International by 7.6% in the 1st quarter. Morgan Stanley now owns 19,410,034 shares of the medical instruments supplier’s stock worth $1,575,901,000 after acquiring an additional 1,375,081 shares in the last quarter. Veritas Asset Management LLP increased its holdings in shares of Baxter International by 23.3% in the 1st quarter. Veritas Asset Management LLP now owns 8,952,949 shares of the medical instruments supplier’s stock valued at $726,890,000 after acquiring an additional 1,689,300 shares during the last quarter. Nuveen Asset Management LLC raised its position in shares of Baxter International by 11.7% during the 1st quarter. Nuveen Asset Management LLC now owns 8,011,729 shares of the medical instruments supplier’s stock valued at $650,473,000 after acquiring an additional 842,305 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in Baxter International by 1,291.7% during the first quarter. JPMorgan Chase & Co. now owns 7,935,879 shares of the medical instruments supplier’s stock worth $644,314,000 after purchasing an additional 7,365,663 shares during the last quarter. Institutional investors and hedge funds own 83.74% of the company’s stock.

In related news, SVP Giuseppe Accogli sold 72,341 shares of the business’s stock in a transaction that occurred on Friday, June 19th. The shares were sold at an average price of $85.00, for a total value of $6,148,985.00. Following the sale, the senior vice president now directly owns 76,473 shares in the company, valued at approximately $6,500,205. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John D. Forsyth sold 1,500 shares of the stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $82.95, for a total transaction of $124,425.00. Following the sale, the director now directly owns 35,398 shares of the company’s stock, valued at $2,936,264.10. The disclosure for this sale can be found here. Insiders sold a total of 77,583 shares of company stock worth $6,613,932 in the last three months. Company insiders own 0.13% of the company’s stock.

BAX has been the topic of a number of research reports. Zacks Investment Research cut shares of Baxter International from a “hold” rating to a “sell” rating and set a $93.00 target price on the stock. in a report on Tuesday, July 7th. SVB Leerink lifted their target price on Baxter International from $96.00 to $105.00 and gave the company an “outperform” rating in a research note on Friday, May 1st. Barclays reaffirmed a “hold” rating and set a $84.00 target price on shares of Baxter International in a report on Tuesday, April 14th. KeyCorp raised their price target on Baxter International from $92.00 to $98.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. Finally, Morgan Stanley lowered their price objective on Baxter International from $95.00 to $90.00 and set an “equal weight” rating for the company in a research note on Friday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $96.72.

Baxter International stock opened at $86.38 on Friday. Baxter International Inc has a 52 week low of $69.10 and a 52 week high of $95.19. The stock has a market cap of $43.81 billion, a price-to-earnings ratio of 26.10, a PEG ratio of 2.75 and a beta of 0.84. The company’s 50-day moving average price is $86.00 and its two-hundred day moving average price is $86.95. The company has a current ratio of 2.74, a quick ratio of 2.19 and a debt-to-equity ratio of 0.84.

Baxter International (NYSE:BAX) last posted its quarterly earnings data on Thursday, July 30th. The medical instruments supplier reported $0.64 EPS for the quarter, missing the Zacks’ consensus estimate of $0.71 by ($0.07). The company had revenue of $2.72 billion for the quarter, compared to analyst estimates of $2.86 billion. Baxter International had a net margin of 8.10% and a return on equity of 21.02%. Baxter International’s revenue was down 4.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.89 EPS. Research analysts expect that Baxter International Inc will post 3.05 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Monday, August 31st will be given a dividend of $0.245 per share. This represents a $0.98 annualized dividend and a dividend yield of 1.13%. The ex-dividend date is Friday, August 28th. Baxter International’s dividend payout ratio (DPR) is presently 29.61%.

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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