Trust Department MB Financial Bank N A lowered its holdings in shares of Baxter International Inc (NYSE:BAX) by 15.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,128 shares of the medical instruments supplier’s stock after selling 200 shares during the period. Trust Department MB Financial Bank N A’s holdings in Baxter International were worth $74,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Bridgeworth LLC acquired a new stake in Baxter International during the 2nd quarter worth $102,000. Point72 Hong Kong Ltd acquired a new stake in Baxter International during the 3rd quarter worth $122,000. Centaurus Financial Inc. acquired a new stake in Baxter International during the 2nd quarter worth $117,000. Bell Rock Capital LLC acquired a new stake in Baxter International during the 3rd quarter worth $134,000. Finally, Baxter Bros Inc. acquired a new stake in Baxter International during the 3rd quarter worth $201,000. Hedge funds and other institutional investors own 83.28% of the company’s stock.
Baxter International stock opened at $67.12 on Thursday. Baxter International Inc has a 12-month low of $61.05 and a 12-month high of $78.38. The stock has a market cap of $35.39 billion, a price-to-earnings ratio of 27.06, a PEG ratio of 1.65 and a beta of 0.96. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.96 and a current ratio of 2.60.
Baxter International (NYSE:BAX) last released its quarterly earnings results on Wednesday, October 31st. The medical instruments supplier reported $0.80 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.74 by $0.06. Baxter International had a net margin of 10.90% and a return on equity of 17.67%. The company had revenue of $2.77 billion for the quarter, compared to analysts’ expectations of $2.79 billion. During the same period last year, the company earned $0.64 EPS. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. As a group, equities research analysts expect that Baxter International Inc will post 3 EPS for the current fiscal year.
Baxter International announced that its board has initiated a stock buyback program on Tuesday, November 13th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the medical instruments supplier to repurchase up to 6.1% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board believes its shares are undervalued.
The company also recently declared a quarterly dividend, which was paid on Wednesday, January 2nd. Shareholders of record on Monday, December 3rd were paid a dividend of $0.19 per share. The ex-dividend date was Friday, November 30th. This represents a $0.76 annualized dividend and a dividend yield of 1.13%. Baxter International’s dividend payout ratio is currently 30.65%.
In related news, insider Third Point Llc sold 8,000,000 shares of the firm’s stock in a transaction that occurred on Monday, December 3rd. The shares were sold at an average price of $68.62, for a total value of $548,960,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Carole J. Shapazian sold 11,749 shares of the firm’s stock in a transaction that occurred on Monday, December 3rd. The stock was sold at an average price of $68.48, for a total transaction of $804,571.52. Following the completion of the sale, the director now directly owns 15,237 shares in the company, valued at $1,043,429.76. The disclosure for this sale can be found here. Insiders have sold a total of 8,013,249 shares of company stock worth $549,865,102 over the last ninety days. 0.07% of the stock is owned by corporate insiders.
A number of brokerages have commented on BAX. Zacks Investment Research upgraded shares of Baxter International from a “hold” rating to a “buy” rating and set a $87.00 price objective for the company in a research report on Tuesday, September 25th. ValuEngine downgraded shares of Baxter International from a “buy” rating to a “hold” rating in a research report on Thursday, November 1st. Credit Suisse Group began coverage on shares of Baxter International in a research report on Monday, December 17th. They set an “outperform” rating and a $77.00 price objective for the company. Citigroup upgraded shares of Baxter International from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $69.00 to $76.00 in a research report on Wednesday, January 2nd. Finally, Royal Bank of Canada cut their price objective on shares of Baxter International from $76.00 to $70.00 and set a “sector perform” rating for the company in a research report on Thursday, November 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $76.00.
Baxter International Company Profile
Baxter International Inc provides a portfolio of healthcare products. The company operates through North and South America; Europe, Middle East and Africa; and Asia-Pacific segments. It 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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