Premia Global Advisors LLC acquired a new stake in Baxter International Inc (NYSE:BAX) in the fourth quarter, HoldingsChannel reports. The institutional investor acquired 3,756 shares of the medical instruments supplier’s stock, valued at approximately $242,000.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Family Capital Trust Co bought a new position in Baxter International during the 4th quarter worth about $103,000. Robecosam AG bought a new position in Baxter International during the 4th quarter worth about $103,000. Community Bank N.A. increased its holdings in Baxter International by 152.7% during the 4th quarter. Community Bank N.A. now owns 1,655 shares of the medical instruments supplier’s stock worth $107,000 after purchasing an additional 1,000 shares in the last quarter. Trustcore Financial Services LLC bought a new position in Baxter International during the 4th quarter worth about $131,000. Finally, Grove Bank & Trust increased its holdings in Baxter International by 526.0% during the 3rd quarter. Grove Bank & Trust now owns 2,285 shares of the medical instruments supplier’s stock worth $143,000 after purchasing an additional 1,920 shares in the last quarter. Institutional investors and hedge funds own 85.56% of the company’s stock.
Baxter International Inc (BAX) opened at $68.50 on Tuesday. Baxter International Inc has a one year low of $51.03 and a one year high of $72.58. The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.05 and a current ratio of 2.57. The company has a market cap of $37,210.16, a PE ratio of 53.10, a PEG ratio of 1.99 and a beta of 0.82.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 2nd. Investors of record on Friday, March 2nd will be paid a $0.16 dividend. The ex-dividend date is Thursday, March 1st. This represents a $0.64 annualized dividend and a yield of 0.93%. Baxter International’s dividend payout ratio (DPR) is currently 49.61%.
Baxter International announced that its Board of Directors has initiated a stock buyback program on Tuesday, February 20th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the medical instruments supplier to repurchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.
A number of research firms have issued reports on BAX. Royal Bank of Canada reiterated a “hold” rating and set a $66.00 target price on shares of Baxter International in a report on Wednesday, November 22nd. Citigroup increased their target price on Baxter International from $66.00 to $70.00 and gave the stock a “neutral” rating in a report on Tuesday, February 6th. Deutsche Bank upgraded Baxter International from a “hold” rating to a “buy” rating and set a $80.00 target price for the company in a report on Tuesday, February 20th. ValuEngine cut Baxter International from a “buy” rating to a “hold” rating in a report on Wednesday, March 7th. Finally, BMO Capital Markets increased their price objective on shares of Baxter International from $74.00 to $77.00 and gave the stock an “outperform” rating in a research note on Friday, February 2nd. Eight investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $71.00.
In related news, SVP Giuseppe Accogli sold 28,641 shares of the firm’s 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Carole J. Shapazian sold 4,990 shares of the firm’s 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. Company insiders own 0.05% of the company’s stock.
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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