Nomura Asset Management Co. Ltd. grew its stake in Baxter International Inc (NYSE:BAX) by 2.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 125,312 shares of the medical instruments supplier’s stock after acquiring an additional 3,402 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Baxter International were worth $9,660,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. First Hawaiian Bank bought a new position in Baxter International during the third quarter worth about $1,639,000. Natixis grew its holdings in Baxter International by 62.5% during the second quarter. Natixis now owns 716,411 shares of the medical instruments supplier’s stock worth $52,900,000 after purchasing an additional 275,452 shares during the period. AMP Capital Investors Ltd grew its holdings in Baxter International by 1.5% during the second quarter. AMP Capital Investors Ltd now owns 267,439 shares of the medical instruments supplier’s stock worth $19,749,000 after purchasing an additional 3,839 shares during the period. Advisors Asset Management Inc. grew its holdings in Baxter International by 154.2% during the second quarter. Advisors Asset Management Inc. now owns 27,776 shares of the medical instruments supplier’s stock worth $1,163,000 after purchasing an additional 16,850 shares during the period. Finally, Putnam Investments LLC grew its holdings in Baxter International by 33.9% during the second quarter. Putnam Investments LLC now owns 1,330,139 shares of the medical instruments supplier’s stock worth $98,217,000 after purchasing an additional 336,950 shares during the period. Institutional investors own 82.10% of the company’s stock.
Shares of BAX stock opened at $65.83 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.60 and a quick ratio of 1.96. The company has a market cap of $33.54 billion, a price-to-earnings ratio of 21.66, a P/E/G ratio of 1.70 and a beta of 1.02. Baxter International Inc has a 12-month low of $61.05 and a 12-month high of $78.38.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 2nd. Shareholders of record on Monday, December 3rd will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Friday, November 30th. This represents a $0.76 annualized dividend and a yield of 1.15%. Baxter International’s dividend payout ratio (DPR) is presently 30.65%.
Baxter International announced that its Board of Directors has initiated a stock buyback program on Tuesday, November 13th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the medical instruments supplier to repurchase up to 6.1% 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 equities analysts recently commented on BAX shares. Citigroup reduced their price target on Baxter International from $76.00 to $69.00 and set a “neutral” rating for the company in a report on Tuesday. Piper Jaffray Companies lifted their price target on Baxter International from $77.00 to $83.00 and gave the stock an “overweight” rating in a report on Friday, July 27th. Leerink Swann reduced their price target on Baxter International from $90.00 to $77.00 and set an “outperform” rating for the company in a report on Thursday, November 1st. Argus upgraded Baxter International from a “hold” rating to a “buy” rating and set a $70.00 price target for the company in a report on Friday, November 2nd. Finally, Wells Fargo & Co reduced their price target on Baxter International from $82.00 to $72.00 and set an “outperform” rating for the company in a report on Thursday, November 1st. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $73.81.
In other Baxter International news, SVP Giuseppe Accogli sold 17,647 shares of the firm’s stock in a transaction that occurred on Monday, September 17th. The shares were sold at an average price of $77.27, for a total transaction of $1,363,583.69. Following the completion of the sale, the senior vice president now directly owns 59,452 shares in the company, valued at $4,593,856.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.05% of the company’s stock.
Baxter International Company Profile
Baxter International Inc provides a portfolio of healthcare products. The company operates through North and South America; Europe, Middle East and Africa; and Asia-Pacific segments. It offers peritoneal dialysis and hemodialysis, and additional dialysis therapies and services; renal replacement therapies and other organ support therapies focused in the intensive care unit; sterile intravenous (IV) solutions, IV therapies, infusion pumps, administration sets, and drug reconstitution devices; and parenteral nutrition therapies.
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