Sawtooth Solutions LLC acquired a new position in Baxter International Inc (NYSE:BAX) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 3,693 shares of the medical instruments supplier’s stock, valued at approximately $239,000.
Several other institutional investors also recently modified their holdings of the company. Geode Capital Management LLC raised its stake in shares of Baxter International by 4.4% in the fourth quarter. Geode Capital Management LLC now owns 5,812,690 shares of the medical instruments supplier’s stock worth $375,011,000 after purchasing an additional 247,337 shares during the last quarter. Two Sigma Advisers LP increased its position in shares of Baxter International by 6.8% during the fourth quarter. Two Sigma Advisers LP now owns 3,695,958 shares of the medical instruments supplier’s stock valued at $238,907,000 after acquiring an additional 236,000 shares during the last quarter. TIAA CREF Investment Management LLC increased its position in shares of Baxter International by 0.5% during the fourth quarter. TIAA CREF Investment Management LLC now owns 3,654,214 shares of the medical instruments supplier’s stock valued at $236,208,000 after acquiring an additional 19,093 shares during the last quarter. Old Mutual Global Investors UK Ltd. increased its position in shares of Baxter International by 18.1% during the fourth 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 acquiring an additional 474,520 shares during the last quarter. Finally, Winslow Capital Management LLC purchased a new stake in shares of Baxter International during the fourth quarter valued at approximately $178,651,000. 85.54% of the stock is owned by hedge funds and other institutional investors.
In other Baxter International news, Director Carole J. Shapazian sold 4,990 shares of the firm’s stock in a transaction on Friday, March 2nd. The stock was sold at an average price of $66.05, for a total value of $329,589.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Giuseppe Accogli sold 28,641 shares of the firm’s stock in a transaction on Tuesday, January 2nd. The stock was 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. Company insiders own 0.05% of the company’s stock.
Baxter International (NYSE:BAX) last released its earnings results on Thursday, February 1st. The medical instruments supplier reported $0.64 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.05. Baxter International had a return on equity of 15.11% and a net margin of 6.79%. The business had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.77 billion. During the same period last year, the business posted $0.57 earnings per share. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. equities analysts predict that Baxter International Inc will post 2.78 EPS for the current fiscal year.
Baxter International announced that its board has initiated a share buyback program on Tuesday, February 20th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the medical instruments supplier to purchase shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Friday, March 2nd will be given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date is Thursday, March 1st. Baxter International’s dividend payout ratio is currently 49.61%.
A number of analysts recently commented on BAX shares. Zacks Investment Research downgraded Baxter International from a “buy” rating to a “hold” rating in a research report on Tuesday, December 26th. Bank of America raised Baxter International from a “neutral” rating to a “buy” rating in a research report on Tuesday, January 2nd. Evercore ISI started coverage on Baxter International in a research report on Wednesday, January 3rd. They set an “outperform” rating and a $71.00 price target for the company. Royal Bank of Canada reaffirmed a “hold” rating and set a $72.00 price target on shares of Baxter International in a research report on Friday, February 2nd. Finally, ValuEngine downgraded Baxter International from a “buy” rating to a “hold” rating in a research report on Wednesday, March 7th. Eight investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. Baxter International currently has an average rating of “Buy” and a consensus target price of $71.27.
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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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