Cohen Lawrence B Takes $412,000 Position in Baxter International Inc (NYSE:BAX)

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Cohen Lawrence B purchased a new stake in shares of Baxter International Inc (NYSE:BAX) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 5,030 shares of the medical instruments supplier’s stock, valued at approximately $412,000.

Several other hedge funds have also recently made changes to their positions in BAX. Chemical Bank raised its holdings in Baxter International by 2.4% in the 2nd quarter. Chemical Bank now owns 14,808 shares of the medical instruments supplier’s stock valued at $1,213,000 after buying an additional 343 shares during the period. Dimensional Fund Advisors LP raised its holdings 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 valued at $79,362,000 after buying an additional 17,633 shares during the period. Archford Capital Strategies LLC raised its holdings in Baxter International by 60.0% in the 1st quarter. Archford Capital Strategies LLC now owns 800 shares of the medical instruments supplier’s stock valued at $65,000 after buying an additional 300 shares during the period. Evolution Wealth Advisors LLC purchased a new stake in Baxter International in the 2nd quarter valued at about $32,000. Finally, Diversified Trust Co increased its stake in Baxter International by 17.8% during the first quarter. Diversified Trust Co now owns 42,508 shares of the medical instruments supplier’s stock worth $3,456,000 after purchasing an additional 6,420 shares during the period. 83.96% of the stock is currently owned by hedge funds and other institutional investors.

A number of analysts have issued reports on BAX shares. Cowen set a $75.00 price target 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 price target on shares of Baxter International and gave the stock a “buy” rating in a research note on Friday, July 26th. KeyCorp initiated coverage on shares of Baxter International in a research note on Tuesday, June 25th. They set a “sector weight” rating on the stock. Zacks Investment Research raised Baxter International from a “hold” rating to a “buy” rating and set a $86.00 price objective for the company in a research report on Friday, June 21st. Finally, Royal Bank of Canada set a $87.00 price objective on Baxter International and gave the stock a “hold” rating in a research report on Friday, July 26th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The company has an average rating of “Buy” and an average target price of $85.27.

In other news, insider Third Point Llc sold 5,000,000 shares of the 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Jacqueline Kunzler sold 593 shares of the stock in a transaction that occurred on Wednesday, June 19th. The shares were sold at an average price of $80.46, for a total value of $47,712.78. Following the completion of the sale, the senior vice president now directly owns 9,023 shares of the company’s stock, valued at $725,990.58. The disclosure for this sale can be found here. Insiders sold 5,001,913 shares of company stock valued at $382,000,950 over the last ninety days. 0.70% of the stock is currently owned by corporate insiders.

Shares of BAX opened at $88.18 on Wednesday. The company has a 50 day simple moving average of $83.32. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.78 and a quick ratio of 2.10. The firm has a market capitalization of $44.09 billion, a P/E ratio of 28.91, a price-to-earnings-growth ratio of 1.99 and a beta of 1.00. Baxter International Inc has a 52-week low of $61.05 and a 52-week high of $88.28.

Baxter International (NYSE:BAX) last announced its quarterly earnings results 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 firm had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.80 billion. Baxter International had a return on equity of 21.21% and a net margin of 14.28%. The firm’s quarterly revenue was down .1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.77 earnings per share. On average, equities research analysts predict 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. Investors of record on Friday, August 30th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date of this dividend is Thursday, August 29th. Baxter International’s dividend payout ratio (DPR) is 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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