Cohen Capital Management Inc. continued to hold its stake in Baxter International Inc. (NYSE:BAX) during the second quarter, according to its most recent disclosure with the SEC. The firm owned 6,000 shares of the medical instruments supplier’s stock at the end of the second quarter. Cohen Capital Management Inc.’s holdings in Baxter International were worth $363,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. bought a new position in Baxter International during the first quarter worth approximately $365,000. Sivik Global Healthcare LLC acquired a new stake in shares of Baxter International during the first quarter worth about $5,705,000. Hermes Investment Management Ltd. boosted its stake in shares of Baxter International by 4,510.9% in the first quarter. Hermes Investment Management Ltd. now owns 882,074 shares of the medical instruments supplier’s stock worth $45,744,000 after buying an additional 862,944 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Baxter International by 1.0% in the first quarter. Envestnet Asset Management Inc. now owns 268,759 shares of the medical instruments supplier’s stock worth $13,939,000 after buying an additional 2,564 shares during the last quarter. Finally, Adalta Capital Management LLC acquired a new stake in shares of Baxter International during the first quarter worth about $1,207,000. Institutional investors and hedge funds own 84.29% of the company’s stock.
Shares of Baxter International Inc. (NYSE BAX) traded up 0.08% on Friday, reaching $60.87. The company’s stock had a trading volume of 2,308,236 shares. The company has a market capitalization of $33.17 billion, a price-to-earnings ratio of 36.94 and a beta of 0.66. Baxter International Inc. has a 12-month low of $43.13 and a 12-month high of $63.14. The company’s 50-day moving average is $60.89 and its 200 day moving average is $55.87.
Baxter International (NYSE:BAX) last announced its quarterly earnings results on Wednesday, July 26th. The medical instruments supplier reported $0.63 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.06. Baxter International had a return on equity of 14.82% and a net margin of 8.85%. The firm had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.59 billion. During the same quarter in the previous year, the business earned $0.46 EPS. Baxter International’s revenue for the quarter was up .8% compared to the same quarter last year. Equities analysts anticipate that Baxter International Inc. will post $2.39 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 1st will be paid a $0.16 dividend. The ex-dividend date is Wednesday, August 30th. This represents a $0.64 annualized dividend and a dividend yield of 1.05%. Baxter International’s dividend payout ratio is presently 38.79%.
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Several research analysts have commented on the company. BidaskClub raised Baxter International from a “buy” rating to a “strong-buy” rating in a research note on Monday, August 14th. Citigroup Inc. started coverage on shares of Baxter International in a research report on Thursday. They set a “neutral” rating and a $63.00 target price for the company. Cantor Fitzgerald set a $70.00 target price on shares of Baxter International and gave the company a “buy” rating in a research report on Wednesday, July 26th. Zacks Investment Research downgraded shares of Baxter International from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Finally, Leerink Swann restated an “outperform” rating and set a $75.00 price target (up from $67.00) on shares of Baxter International in a report on Thursday, July 27th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $65.15.
In other news, SVP Giuseppe Accogli sold 12,670 shares of the business’s stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $60.96, for a total transaction of $772,363.20. Following the transaction, the senior vice president now directly owns 33,286 shares in the company, valued at approximately $2,029,114.56. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, 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 value of $151,634.56. Following the transaction, the director now owns 9,848 shares in the company, valued at $570,396.16. The disclosure for this sale can be found here. 0.05% of the stock is owned by insiders.
Baxter International Company Profile
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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