HBK Investments L P reduced its position in shares of Baxter International Inc (NYSE:BAX) by 64.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,967 shares of the medical instruments supplier’s stock after selling 60,111 shares during the period. HBK Investments L P’s holdings in Baxter International were worth $2,131,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Family Capital Trust Co acquired a new position in shares of Baxter International during the fourth quarter worth $103,000. Robecosam AG acquired a new position in shares of Baxter International during the fourth quarter worth $103,000. Community Bank N.A. lifted its position in shares of Baxter International by 152.7% during the fourth 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 acquired a new position in shares of Baxter International during the fourth quarter worth $131,000. Finally, Grove Bank & Trust lifted its position in shares of Baxter International by 526.0% during the third 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. 85.54% of the stock is currently owned by institutional investors and hedge funds.
Shares of Baxter International stock opened at $67.89 on Monday. The company has a quick ratio of 2.05, a current ratio of 2.57 and a debt-to-equity ratio of 0.38. The stock has a market cap of $36,670.02, a price-to-earnings ratio of 52.63, a P/E/G ratio of 1.96 and a beta of 0.82. Baxter International Inc has a 12 month low of $51.03 and a 12 month high of $72.58.
Baxter International announced that its board has authorized a stock repurchase plan on Tuesday, February 20th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the medical instruments supplier to reacquire shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Friday, March 2nd will be paid a dividend of $0.16 per share. The ex-dividend date is Thursday, March 1st. This represents a $0.64 annualized dividend and a yield of 0.94%. Baxter International’s payout ratio is 49.61%.
In other Baxter International news, Director Carole J. Shapazian sold 4,990 shares of the business’s stock in a transaction on Friday, March 2nd. The shares were sold at an average price of $66.05, for a total transaction of $329,589.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Giuseppe Accogli sold 28,641 shares of the business’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $67.00, for a total transaction of $1,918,947.00. The disclosure for this sale can be found here. 0.05% of the stock is owned by insiders.
BAX has been the topic of a number of recent research reports. Raymond James Financial raised shares of Baxter International from a “market perform” rating to an “outperform” rating and set a $73.00 target price on the stock in a research report on Wednesday, January 3rd. Royal Bank of Canada reissued a “hold” rating and set a $66.00 target price on shares of Baxter International in a research report on Wednesday, November 22nd. Zacks Investment Research cut shares of Baxter International from a “buy” rating to a “hold” rating in a research report on Tuesday, December 26th. JPMorgan Chase & Co. raised shares of Baxter International from a “neutral” rating to an “overweight” rating in a research report on Tuesday, January 2nd. Finally, Bank of America reissued a “hold” rating on shares of Baxter International in a research report on Wednesday, November 22nd. Eight research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $71.00.
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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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