Dundas Partners LLP Grows Stake in Baxter International Inc (NYSE:BAX)

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Dundas Partners LLP grew its holdings in Baxter International Inc (NYSE:BAX) by 1.9% during the second quarter, HoldingsChannel reports. The fund owned 149,201 shares of the medical instruments supplier’s stock after purchasing an additional 2,819 shares during the period. Baxter International accounts for about 2.9% of Dundas Partners LLP’s investment portfolio, making the stock its 17th biggest holding. Dundas Partners LLP’s holdings in Baxter International were worth $12,218,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Weaver Consulting Group acquired a new stake in Baxter International during the 1st quarter worth approximately $25,000. C J Advisory Inc acquired a new stake in Baxter International during the 1st quarter worth approximately $28,000. Personal Wealth Partners acquired a new stake in Baxter International during the 2nd quarter worth approximately $29,000. Evolution Wealth Advisors LLC acquired a new stake in Baxter International during the 2nd quarter worth approximately $32,000. Finally, Ellis Investment Partners LLC acquired a new stake in Baxter International during the 1st quarter worth approximately $36,000. Institutional investors and hedge funds own 83.96% of the company’s stock.

In other news, insider Third Point Llc sold 5,000,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $76.37, for a total value of $381,850,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director John D. Forsyth sold 1,320 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $78.21, for a total value of $103,237.20. Following the completion of the transaction, the director now directly owns 32,779 shares of the company’s stock, valued at $2,563,645.59. The disclosure for this sale can be found here. Insiders sold a total of 5,001,913 shares of company stock valued at $382,000,950 over the last three months. Insiders own 0.70% of the company’s stock.

A number of analysts have weighed in on BAX shares. Wells Fargo & Co set a $95.00 price objective on Baxter International and gave the stock a “buy” rating in a research report on Friday, July 26th. Credit Suisse Group increased their price objective on Baxter International from $84.00 to $95.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. JPMorgan Chase & Co. increased their price objective on Baxter International from $80.00 to $88.00 and gave the stock an “overweight” rating in a research report on Monday, May 13th. Raymond James increased their price objective on Baxter International from $84.00 to $95.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Finally, BMO Capital Markets increased their price objective on Baxter International to $95.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $85.27.

BAX opened at $88.18 on Wednesday. The company has a quick ratio of 2.10, a current ratio of 2.78 and a debt-to-equity ratio of 0.72. The company has a 50 day simple moving average of $83.32. The firm has a market cap of $44.09 billion, a PE ratio of 28.91, a P/E/G ratio of 1.99 and a beta of 1.00. Baxter International Inc has a 12 month low of $61.05 and a 12 month high of $88.28.

Baxter International (NYSE:BAX) last posted its quarterly earnings results on Thursday, July 25th. The medical instruments supplier reported $0.89 EPS for the quarter, beating the consensus estimate of $0.81 by $0.08. The business had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.80 billion. Baxter International had a return on equity of 21.21% and a net margin of 14.28%. The company’s quarterly revenue was down .1% compared to the same quarter last year. During the same period last 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 declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, August 30th will be issued a $0.22 dividend. The ex-dividend date is Thursday, August 29th. This represents a $0.88 annualized dividend and a dividend yield of 1.00%. Baxter International’s dividend payout ratio is currently 28.85%.

Baxter International Company 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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