Piedmont Investment Advisors Inc. boosted its holdings in shares of Baxter International Inc (NYSE:BAX) by 2.9% in the first quarter, HoldingsChannel.com reports. The firm owned 11,747 shares of the medical instruments supplier’s stock after purchasing an additional 334 shares during the quarter. Piedmont Investment Advisors Inc.’s holdings in Baxter International were worth $955,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc lifted its stake in Baxter International by 1.3% during the third quarter. Vanguard Group Inc now owns 36,398,931 shares of the medical instruments supplier’s stock worth $2,805,993,000 after purchasing an additional 470,198 shares during the period. Northern Trust Corp lifted its stake in Baxter International by 1.6% during the fourth quarter. Northern Trust Corp now owns 8,615,513 shares of the medical instruments supplier’s stock worth $567,073,000 after purchasing an additional 136,476 shares during the period. Norges Bank bought a new position in Baxter International during the fourth quarter worth about $549,458,000. Veritas Asset Management LLP lifted its stake in Baxter International by 1.0% during the first quarter. Veritas Asset Management LLP now owns 7,850,949 shares of the medical instruments supplier’s stock worth $638,361,000 after purchasing an additional 77,608 shares during the period. Finally, Geode Capital Management LLC lifted its stake in Baxter International by 4.8% during the fourth quarter. Geode Capital Management LLC now owns 6,444,204 shares of the medical instruments supplier’s stock worth $423,409,000 after purchasing an additional 297,006 shares during the period. Hedge funds and other institutional investors own 84.05% of the company’s stock.
NYSE:BAX opened at $75.10 on Monday. Baxter International Inc has a 1 year low of $61.05 and a 1 year high of $82.25. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.83 and a quick ratio of 1.30. The company has a market capitalization of $38.31 billion, a PE ratio of 24.62, a PEG ratio of 1.77 and a beta of 0.96.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 7th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.17%. The ex-dividend date of this dividend is Thursday, June 6th. This is a boost from Baxter International’s previous quarterly dividend of $0.19. Baxter International’s payout ratio is 24.92%.
In related news, Director John D. Forsyth sold 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $75.92, for a total value of $113,880.00. Following the completion of the transaction, the director now owns 31,703 shares in the company, valued at approximately $2,406,891.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Giuseppe Accogli sold 38,297 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $76.78, for a total transaction of $2,940,443.66. Following the completion of the transaction, the senior vice president now owns 70,001 shares of the company’s stock, valued at approximately $5,374,676.78. The disclosure for this sale can be found here. Insiders sold a total of 5,057,187 shares of company stock valued at $386,297,619 in the last 90 days. 0.70% of the stock is currently owned by corporate insiders.
A number of research analysts have commented on the stock. Zacks Investment Research cut shares of Baxter International from a “buy” rating to a “hold” rating in a research note on Tuesday, May 21st. Wells Fargo & Co raised their price target on shares of Baxter International from $80.00 to $89.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 3rd. JPMorgan Chase & Co. lifted their target price on shares of Baxter International from $80.00 to $88.00 and gave the company an “overweight” rating in a research note on Monday, May 13th. Cowen set a $75.00 target price on shares of Baxter International and gave the company a “hold” rating in a research note on Monday, April 22nd. Finally, Morgan Stanley lifted their target price on shares of Baxter International from $80.00 to $83.00 and gave the company an “overweight” rating in a research note on Tuesday, March 5th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Baxter International has a consensus rating of “Buy” and a consensus price target of $78.33.
About Baxter International
Baxter International Inc, through its subsidiaries, develops and provides a portfolio of healthcare products. The company operates through North and South America; Europe, Middle East and Africa; and Asia-Pacific segments. The company 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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