UMB Bank N A MO cut its stake in shares of Baxter International Inc. (NYSE:BAX) by 8.2% during the second quarter, Holdings Channel reports. The firm owned 29,042 shares of the company’s stock after selling 2,592 shares during the period. UMB Bank N A MO’s holdings in Baxter International were worth $1,313,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. BNP Paribas Arbitrage SA boosted its stake in Baxter International by 753.5% in the second quarter. BNP Paribas Arbitrage SA now owns 2,281,030 shares of the company’s stock valued at $103,148,000 after buying an additional 2,013,786 shares during the period. TIAA CREF Investment Management LLC boosted its stake in Baxter International by 51.4% in the first quarter. TIAA CREF Investment Management LLC now owns 3,926,629 shares of the company’s stock valued at $161,306,000 after buying an additional 1,333,115 shares during the period. Smith Asset Management Group LP acquired a new stake in Baxter International during the second quarter valued at approximately $32,281,000. Teachers Advisors Inc. boosted its stake in Baxter International by 92.0% in the first quarter. Teachers Advisors Inc. now owns 1,216,906 shares of the company’s stock valued at $49,990,000 after buying an additional 583,109 shares during the period. Finally, Panagora Asset Management Inc. boosted its stake in Baxter International by 1,888.1% in the first quarter. Panagora Asset Management Inc. now owns 589,168 shares of the company’s stock valued at $24,203,000 after buying an additional 559,533 shares during the period. Institutional investors own 84.79% of the company’s stock.
Shares of Baxter International Inc. (NYSE:BAX) traded down 0.61% during trading on Monday, hitting $47.20. The company’s stock had a trading volume of 2,418,383 shares. The company has a market capitalization of $25.67 billion, a P/E ratio of 5.42 and a beta of 0.64. Baxter International Inc. has a 1-year low of $32.18 and a 1-year high of $49.49. The firm’s 50 day moving average is $47.23 and its 200-day moving average is $44.94.
Baxter International (NYSE:BAX) last posted its quarterly earnings results on Tuesday, July 26th. The company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.06. The firm had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.51 billion. Baxter International had a return on equity of 10.70% and a net margin of 47.74%. Baxter International’s quarterly revenue was up 4.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.00 earnings per share. Analysts forecast that Baxter International Inc. will post $1.73 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Friday, September 2nd will be given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.10%. The ex-dividend date is Wednesday, August 31st. Baxter International’s payout ratio is 5.99%.
Several analysts have commented on BAX shares. Goldman Sachs Group Inc. restated a “buy” rating on shares of Baxter International in a report on Wednesday, July 6th. Argus reaffirmed a “hold” rating on shares of Baxter International in a research note on Monday, August 15th. JPMorgan Chase & Co. lifted their price objective on Baxter International from $45.00 to $48.00 and gave the company a “neutral” rating in a research note on Wednesday, July 27th. Zacks Investment Research lowered Baxter International from a “hold” rating to a “sell” rating in a research note on Tuesday, July 19th. Finally, Royal Bank Of Canada lifted their price objective on Baxter International from $47.00 to $50.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 27th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. Baxter International presently has an average rating of “Hold” and an average price target of $48.25.
About Baxter International
Baxter International Inc, through its subsidiaries, provides a portfolio of essential renal and hospital products, including home, acute and in-center dialysis; sterile intravenous (IV) solutions; infusion systems and devices; parenteral nutrition; biosurgery products and anesthetics, and pharmacy automation, software and services.
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