Baxter International Inc (NYSE:BAX) Shares Bought by Summit Global Investments

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Summit Global Investments lifted its position in Baxter International Inc (NYSE:BAX) by 7.4% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 132,031 shares of the medical instruments supplier’s stock after acquiring an additional 9,135 shares during the quarter. Baxter International makes up about 1.4% of Summit Global Investments’ holdings, making the stock its 20th biggest holding. Summit Global Investments’ holdings in Baxter International were worth $10,735,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its position in Baxter International by 1.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,205,779 shares of the medical instruments supplier’s stock worth $79,362,000 after buying an additional 17,633 shares in the last quarter. Round Table Services LLC lifted its position in Baxter International by 19.9% in the 1st quarter. Round Table Services LLC now owns 4,015 shares of the medical instruments supplier’s stock worth $326,000 after buying an additional 666 shares in the last quarter. First Manhattan Co. lifted its position in Baxter International by 1.6% in the 1st quarter. First Manhattan Co. now owns 56,186 shares of the medical instruments supplier’s stock worth $4,568,000 after buying an additional 893 shares in the last quarter. Mawer Investment Management Ltd. lifted its position in Baxter International by 114.0% in the 1st quarter. Mawer Investment Management Ltd. now owns 2,622,591 shares of the medical instruments supplier’s stock worth $213,243,000 after buying an additional 1,396,850 shares in the last quarter. Finally, Bremer Bank National Association purchased a new stake in Baxter International in the 1st quarter worth approximately $213,000. Institutional investors and hedge funds own 84.03% of the company’s stock.

NYSE:BAX traded up $0.59 during midday trading on Friday, reaching $78.80. The stock had a trading volume of 518,834 shares, compared to its average volume of 2,203,652. Baxter International Inc has a 1-year low of $61.05 and a 1-year high of $82.25. The company has a current ratio of 1.83, a quick ratio of 1.30 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $39.78 billion, a PE ratio of 25.84, a PEG ratio of 1.84 and a beta of 0.94.

Baxter International (NYSE:BAX) last posted its earnings results on Thursday, April 25th. The medical instruments supplier reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.08. Baxter International had a net margin of 14.27% and a return on equity of 20.04%. The business had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.61 billion. During the same period last year, the business posted $0.70 EPS. Baxter International’s revenue was down 1.7% compared to the same quarter last year. As a group, analysts anticipate that Baxter International Inc will post 3.32 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 7th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Thursday, June 6th. This is a positive change from Baxter International’s previous quarterly dividend of $0.19. This represents a $0.88 dividend on an annualized basis and a yield of 1.12%. Baxter International’s dividend payout ratio (DPR) is presently 28.85%.

A number of equities research analysts have issued reports on BAX shares. Barclays increased their target price on shares of Baxter International from $72.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. Zacks Investment Research downgraded shares of Baxter International from a “buy” rating to a “hold” rating in a research report on Thursday, May 9th. Morgan Stanley increased their target price on shares of Baxter International from $80.00 to $83.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 5th. Cowen set a $75.00 target price on shares of Baxter International and gave the stock a “hold” rating in a research report on Monday, April 22nd. Finally, JPMorgan Chase & Co. increased their target price on shares of Baxter International from $80.00 to $88.00 and gave the stock an “overweight” rating in a research report on Monday, May 13th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Baxter International presently has an average rating of “Buy” and a consensus target price of $78.33.

In other Baxter International news, Director Peter S. Hellman sold 5,680 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $81.89, for a total value of $465,135.20. Following the sale, the director now directly owns 28,774 shares in the company, valued at approximately $2,356,302.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Third Point Llc sold 5,000,000 shares of the firm’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $76.37, for a total transaction of $381,850,000.00. The disclosure for this sale can be found here. Insiders sold a total of 5,054,687 shares of company stock worth $386,108,579 over the last quarter. 0.70% of the stock is currently owned by company insiders.

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Baxter International Profile

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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Institutional Ownership by Quarter for Baxter International (NYSE:BAX)

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