Delta Asset Management LLC TN trimmed its holdings in Baxter International Inc (NYSE:BAX) by 0.7% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 152,776 shares of the medical instruments supplier’s stock after selling 1,015 shares during the quarter. Baxter International accounts for about 1.7% of Delta Asset Management LLC TN’s holdings, making the stock its 20th biggest holding. Delta Asset Management LLC TN’s holdings in Baxter International were worth $12,512,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Weaver Consulting Group bought a new stake in shares of Baxter International in the 1st quarter worth approximately $25,000. C J Advisory Inc purchased a new position in shares of Baxter International in the first quarter worth $28,000. Evolution Wealth Advisors LLC purchased a new position in shares of Baxter International in the second quarter worth $32,000. Manchester Financial Inc. purchased a new position in shares of Baxter International in the second quarter worth $37,000. Finally, NuWave Investment Management LLC increased its stake in shares of Baxter International by 1,808.3% in the second quarter. NuWave Investment Management LLC now owns 458 shares of the medical instruments supplier’s stock worth $38,000 after buying an additional 434 shares during the period. Hedge funds and other institutional investors own 83.78% of the company’s stock.
Several research analysts recently commented on the stock. Raymond James lifted their target price on shares of Baxter International from $84.00 to $95.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Cowen set a $75.00 target price on shares of Baxter International and gave the stock a “hold” rating in a research note on Monday, April 22nd. Wells Fargo & Co set a $95.00 target price on shares of Baxter International and gave the stock a “buy” rating in a research note on Friday, July 26th. Zacks Investment Research raised shares of Baxter International from a “hold” rating to a “buy” rating and set a $86.00 price objective on the stock in a research report on Friday, June 21st. Finally, BMO Capital Markets boosted their price objective on shares of Baxter International to $95.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $85.27.
Shares of Baxter International stock opened at $83.41 on Wednesday. The company has a current ratio of 2.78, a quick ratio of 2.10 and a debt-to-equity ratio of 0.72. The firm’s fifty day moving average is $82.76. The stock has a market cap of $43.24 billion, a P/E ratio of 27.35, a P/E/G ratio of 1.96 and a beta of 1.00. Baxter International Inc has a 12-month low of $61.05 and a 12-month high of $86.65.
Baxter International (NYSE:BAX) last issued its quarterly earnings data on Thursday, July 25th. The medical instruments supplier reported $0.89 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.08. The business had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.80 billion. Baxter International had a net margin of 14.28% and a return on equity of 21.21%. The company’s quarterly revenue was down .1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.77 EPS. As a group, sell-side analysts expect that Baxter International Inc will post 3.37 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, August 30th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date of this dividend is Thursday, August 29th. Baxter International’s dividend payout ratio is presently 28.85%.
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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