Lipe & Dalton decreased its holdings in Baxter International Inc (NYSE:BAX) by 13.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 54,973 shares of the medical instruments supplier’s stock after selling 8,530 shares during the period. Baxter International makes up approximately 2.5% of Lipe & Dalton’s portfolio, making the stock its 21st biggest position. Lipe & Dalton’s holdings in Baxter International were worth $3,553,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also bought and sold shares of the company. Bank of New York Mellon Corp lifted its stake in shares of Baxter International by 0.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 4,978,139 shares of the medical instruments supplier’s stock valued at $312,378,000 after purchasing an additional 16,523 shares in the last quarter. Bessemer Group Inc. lifted its stake in shares of Baxter International by 1.4% in the 3rd quarter. Bessemer Group Inc. now owns 4,717,899 shares of the medical instruments supplier’s stock valued at $296,048,000 after purchasing an additional 64,949 shares in the last quarter. Old Mutual Global Investors UK Ltd. lifted its stake in shares of Baxter International by 18.1% in the 4th quarter. Old Mutual Global Investors UK Ltd. now owns 3,098,384 shares of the medical instruments supplier’s stock valued at $200,279,000 after purchasing an additional 474,520 shares in the last quarter. Winslow Capital Management LLC acquired a new position in shares of Baxter International in the 4th quarter valued at about $178,651,000. Finally, Schwab Charles Investment Management Inc. lifted its stake in shares of Baxter International by 1.7% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 2,673,665 shares of the medical instruments supplier’s stock valued at $172,880,000 after purchasing an additional 44,117 shares in the last quarter. Institutional investors own 84.96% of the company’s stock.
In other Baxter International news, SVP Jeanne K. Mason sold 33,350 shares of the company’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $65.25, for a total value of $2,176,087.50. Following the transaction, the senior vice president now directly owns 124,609 shares of the company’s stock, valued at approximately $8,130,737.25. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Giuseppe Accogli sold 28,641 shares of the company’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $67.00, for a total value of $1,918,947.00. The disclosure for this sale can be found here. Insiders own 0.05% of the company’s stock.
Baxter International Inc (NYSE BAX) opened at $68.69 on Wednesday. The company has a market capitalization of $37,420.00, a P/E ratio of 52.84, a P/E/G ratio of 1.99 and a beta of 0.78. The company has a current ratio of 2.57, a quick ratio of 2.22 and a debt-to-equity ratio of 0.38. Baxter International Inc has a 52-week low of $50.35 and a 52-week high of $72.58.
Baxter International (NYSE:BAX) last released its quarterly earnings results on Thursday, February 1st. The medical instruments supplier reported $0.64 EPS for the quarter, topping the consensus estimate of $0.59 by $0.05. The firm had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.77 billion. Baxter International had a return on equity of 15.11% and a net margin of 6.79%. Baxter International’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.57 EPS. analysts predict that Baxter International Inc will post 2.78 earnings per share for the current fiscal year.
Baxter International declared that its Board of Directors has initiated a share buyback plan on Tuesday, February 20th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the medical instruments supplier to repurchase shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Investors of record on Friday, March 2nd will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 0.93%. The ex-dividend date of this dividend is Thursday, March 1st. Baxter International’s dividend payout ratio (DPR) is presently 49.23%.
Baxter International 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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