Adalta Capital Management LLC purchased a new stake in Baxter International Inc. (NYSE:BAX) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 23,225 shares of the medical instruments supplier’s stock, valued at approximately $1,207,000.
Several other hedge funds and other institutional investors also recently bought and sold shares of BAX. Summit Global Investments raised its position in Baxter International by 9.4% in the first quarter. Summit Global Investments now owns 37,799 shares of the medical instruments supplier’s stock valued at $1,960,000 after buying an additional 3,257 shares in the last quarter. Point72 Asset Management L.P. bought a new position in Baxter International during the first quarter valued at approximately $32,851,000. Salem Investment Counselors Inc. raised its position in Baxter International by 400.0% in the first quarter. Salem Investment Counselors Inc. now owns 3,800 shares of the medical instruments supplier’s stock valued at $198,000 after buying an additional 3,040 shares in the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. raised its position in Baxter International by 21.6% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 8,388 shares of the medical instruments supplier’s stock valued at $435,000 after buying an additional 1,488 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC bought a new position in Baxter International during the first quarter valued at approximately $207,000. Institutional investors and hedge funds own 84.29% of the company’s stock.
Shares of Baxter International Inc. (BAX) traded up 0.08% during mid-day trading on Friday, reaching $60.87. 2,308,236 shares of the company’s stock were exchanged. The stock has a 50 day moving average price of $60.89 and a 200 day moving average price of $55.87. The stock has a market cap of $33.17 billion, a price-to-earnings ratio of 36.94 and a beta of 0.66. Baxter International Inc. has a 52 week low of $43.13 and a 52 week high of $63.14.
Baxter International (NYSE:BAX) last announced its earnings results on Wednesday, July 26th. The medical instruments supplier reported $0.63 EPS for the quarter, beating the consensus estimate of $0.57 by $0.06. The business had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.59 billion. Baxter International had a return on equity of 14.82% and a net margin of 8.85%. The company’s revenue was up .8% on a year-over-year basis. During the same period last year, the business posted $0.46 EPS. Equities research analysts predict that Baxter International Inc. will post $2.39 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 1st will be paid a dividend of $0.16 per share. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.64 dividend on an annualized basis and a yield of 1.05%. Baxter International’s dividend payout ratio (DPR) is presently 38.79%.
Several research analysts have recently commented on the company. Citigroup Inc. assumed coverage on Baxter International in a report on Thursday. They set a “neutral” rating and a $63.00 price target on the stock. BidaskClub upgraded Baxter International from a “buy” rating to a “strong-buy” rating in a report on Monday, August 14th. Zacks Investment Research lowered Baxter International from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. UBS AG lifted their price target on Baxter International from $57.00 to $62.00 and gave the stock a “neutral” rating in a report on Friday, July 28th. Finally, Leerink Swann restated an “outperform” rating and issued a $75.00 price objective (up from $67.00) on shares of Baxter International in a report on Thursday, July 27th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. Baxter International presently has an average rating of “Buy” and a consensus target price of $65.15.
In related news, Director Carole J. Shapazian sold 2,618 shares of the business’s stock in a transaction that occurred on Tuesday, May 23rd. The stock was sold at an average price of $57.92, for a total transaction of $151,634.56. Following the completion of the transaction, the director now owns 9,848 shares in the company, valued at approximately $570,396.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Giuseppe Accogli sold 12,670 shares of the business’s stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $60.96, for a total value of $772,363.20. Following the transaction, the senior vice president now owns 33,286 shares of the company’s stock, valued at approximately $2,029,114.56. The disclosure for this sale can be found here. 0.05% of the stock is owned by company insiders.
About Baxter International
Baxter International Inc, through its subsidiaries, provides renal and hospital products. The Company operates through two segments: Hospital Products and Renal. Its Hospital Products business manufactures sterile intravenous (IV) solutions and administration sets, premixed drugs and drug-reconstitution systems, pre-filled vials and syringes for injectable drugs, IV nutrition products, parenteral nutrition therapies, infusion pumps, inhalation anesthetics and biosurgery products.
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