Cigna Investments Inc. New increased its stake in Baxter International Inc. (NYSE:BAX) by 8.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 21,494 shares of the medical instruments supplier’s stock after buying an additional 1,723 shares during the period. Cigna Investments Inc. New’s holdings in Baxter International were worth $1,305,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Fulton Bank N.A. increased its stake in Baxter International by 6.4% in the first quarter. Fulton Bank N.A. now owns 4,980 shares of the medical instruments supplier’s stock valued at $258,000 after buying an additional 300 shares during the period. Gulf International Bank UK Ltd boosted its position in Baxter International by 2.9% in the first quarter. Gulf International Bank UK Ltd now owns 156,642 shares of the medical instruments supplier’s stock valued at $8,123,000 after buying an additional 4,400 shares in the last quarter. Quadrant Capital Group LLC boosted its position in Baxter International by 1.3% in the first quarter. Quadrant Capital Group LLC now owns 2,344 shares of the medical instruments supplier’s stock valued at $113,000 after buying an additional 31 shares in the last quarter. Stillwater Investment Management LLC boosted its position in Baxter International by 2.4% in the first quarter. Stillwater Investment Management LLC now owns 20,223 shares of the medical instruments supplier’s stock valued at $1,049,000 after buying an additional 481 shares in the last quarter. Finally, Bank of Montreal Can boosted its position in Baxter International by 6.2% in the first quarter. Bank of Montreal Can now owns 565,665 shares of the medical instruments supplier’s stock valued at $29,335,000 after buying an additional 32,915 shares in the last quarter. 85.08% of the stock is currently owned by institutional investors and hedge funds.
Baxter International Inc. (NYSE:BAX) opened at 60.02 on Thursday. Baxter International Inc. has a 1-year low of $43.13 and a 1-year high of $63.14. The company has a market cap of $32.63 billion, a price-to-earnings ratio of 36.42 and a beta of 0.66. The stock has a 50 day moving average price of $60.92 and a 200-day moving average price of $55.22.
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. On average, equities research analysts forecast that Baxter International Inc. will post $2.39 EPS for the current 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 of this dividend is Wednesday, August 30th. This represents a $0.64 annualized dividend and a dividend yield of 1.07%. Baxter International’s dividend payout ratio is presently 38.79%.
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BAX has been the subject of several recent analyst reports. Morgan Stanley boosted their price target on Baxter International from $48.00 to $52.00 and gave the stock an “underweight” rating in a research note on Friday, April 28th. Cantor Fitzgerald set a $70.00 price target on Baxter International and gave the stock a “buy” rating in a research note on Wednesday, July 26th. BMO Capital Markets upgraded Baxter International from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $55.00 to $70.00 in a research note on Tuesday, July 11th. They noted that the move was a valuation call. Goldman Sachs Group, Inc. (The) restated a “conviction-buy” rating and issued a $71.00 price target on shares of Baxter International in a research note on Tuesday, May 16th. Finally, UBS AG boosted their price target on Baxter International from $57.00 to $62.00 and gave the stock a “neutral” rating in a research note on Friday, July 28th. One analyst has rated the stock with a sell rating, six have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Baxter International currently has an average rating of “Buy” and a consensus target price of $65.33.
In other Baxter International 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 sale, the director now directly owns 9,848 shares in the company, valued at approximately $570,396.16. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.05% of the stock is owned by 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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