Caxton Associates LP grew its holdings in Baxter International Inc (NYSE:BAX) by 114.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 22,893 shares of the medical instruments supplier’s stock after acquiring an additional 12,193 shares during the period. Caxton Associates LP’s holdings in Baxter International were worth $1,480,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Geode Capital Management LLC grew its holdings in Baxter International by 4.4% during the 4th quarter. Geode Capital Management LLC now owns 5,812,690 shares of the medical instruments supplier’s stock valued at $375,011,000 after purchasing an additional 247,337 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Baxter International by 0.3% during 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. Old Mutual Global Investors UK Ltd. grew its holdings in Baxter International by 18.1% during 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 stake in Baxter International during the 4th quarter valued at $178,651,000. Finally, Schwab Charles Investment Management Inc. grew its holdings in Baxter International by 1.7% during 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. 84.14% of the stock is owned by institutional investors and hedge funds.
In other news, SVP Giuseppe Accogli sold 28,641 shares of Baxter International stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $67.00, for a total value of $1,918,947.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Carole J. Shapazian sold 4,990 shares of Baxter International stock in a transaction dated Friday, March 2nd. The shares were sold at an average price of $66.05, for a total transaction of $329,589.50. The disclosure for this sale can be found here. 0.05% of the stock is owned by company insiders.
Baxter International (NYSE:BAX) last announced its quarterly earnings data on Thursday, February 1st. The medical instruments supplier reported $0.64 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.05. The company had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.77 billion. Baxter International had a net margin of 6.79% and a return on equity of 15.11%. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period last year, the business earned $0.57 EPS. sell-side analysts predict that Baxter International Inc will post 2.78 earnings per share for the current year.
Baxter International declared that its board has approved a stock buyback plan on Tuesday, February 20th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the medical instruments supplier to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Friday, March 2nd will be issued 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 is currently 26.89%.
A number of research firms recently weighed in on BAX. ValuEngine lowered shares of Baxter International from a “buy” rating to a “hold” rating in a report on Wednesday. Barclays raised their price target on shares of Baxter International from $73.00 to $77.00 and gave the company an “overweight” rating in a report on Friday, February 2nd. Zacks Investment Research raised shares of Baxter International from a “sell” rating to a “hold” rating in a report on Thursday, January 4th. BMO Capital Markets raised their price target on shares of Baxter International from $74.00 to $77.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. Finally, Deutsche Bank raised shares of Baxter International from a “hold” rating to a “buy” rating and set a $80.00 price target for the company in a report on Tuesday, February 20th. Eight investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Baxter International currently has an average rating of “Buy” and a consensus target price of $71.00.
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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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