Deltec Asset Management LLC bought a new stake in shares of Baxter International Inc (NYSE:BAX) in the 2nd quarter, HoldingsChannel reports. The firm bought 10,065 shares of the medical instruments supplier’s stock, valued at approximately $743,000.
Several other institutional investors have also added to or reduced their stakes in BAX. Migdal Insurance & Financial Holdings Ltd. boosted its stake in shares of Baxter International by 3,088.9% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,435 shares of the medical instruments supplier’s stock valued at $106,000 after buying an additional 1,390 shares during the last quarter. Ostrum Asset Management purchased a new position in shares of Baxter International during the 1st quarter valued at approximately $121,000. Whittier Trust Co. of Nevada Inc. boosted its stake in shares of Baxter International by 84.4% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,748 shares of the medical instruments supplier’s stock valued at $126,000 after buying an additional 800 shares during the last quarter. Vigilant Capital Management LLC purchased a new position in shares of Baxter International during the 2nd quarter valued at approximately $131,000. Finally, IHT Wealth Management LLC boosted its stake in shares of Baxter International by 71.9% during the 1st quarter. IHT Wealth Management LLC now owns 2,462 shares of the medical instruments supplier’s stock valued at $156,000 after buying an additional 1,030 shares during the last quarter. Institutional investors own 82.92% of the company’s stock.
In other Baxter International news, Director Carole J. Shapazian sold 6,594 shares of the stock in a transaction on Tuesday, May 22nd. The stock was sold at an average price of $71.79, for a total value of $473,383.26. Following the sale, the director now directly owns 16,442 shares of the company’s stock, valued at $1,180,371.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Brik V. Eyre sold 25,000 shares of the stock in a transaction on Tuesday, May 22nd. The stock was sold at an average price of $71.96, for a total value of $1,799,000.00. Following the completion of the sale, the senior vice president now directly owns 128,777 shares in the company, valued at $9,266,792.92. The disclosure for this sale can be found here. Insiders have sold 74,877 shares of company stock worth $5,468,755 over the last 90 days. 0.07% of the stock is currently owned by company insiders.
Baxter International (NYSE:BAX) last announced its quarterly earnings data on Thursday, July 26th. The medical instruments supplier reported $0.77 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.06. Baxter International had a return on equity of 16.63% and a net margin of 8.29%. The firm had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $2.83 billion. During the same period last year, the business posted $0.63 earnings per share. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. analysts predict that Baxter International Inc will post 2.98 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 1st. Investors of record on Friday, August 31st will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.07%. The ex-dividend date is Thursday, August 30th. Baxter International’s dividend payout ratio (DPR) is presently 30.65%.
Several equities analysts have recently commented on BAX shares. Zacks Investment Research upgraded Baxter International from a “hold” rating to a “buy” rating and set a $81.00 target price for the company in a research note on Monday, May 28th. Piper Jaffray Companies reiterated an “overweight” rating and set a $77.00 target price on shares of Baxter International in a research note on Thursday, May 31st. JPMorgan Chase & Co. increased their target price on Baxter International from $80.00 to $85.00 and gave the company an “overweight” rating in a research note on Friday, July 27th. Bank of America increased their target price on Baxter International from $73.00 to $83.00 and gave the company a “buy” rating in a research note on Tuesday, May 22nd. Finally, Citigroup increased their target price on Baxter International from $70.00 to $72.00 and gave the company a “neutral” rating in a research note on Monday, April 30th. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $76.00.
Baxter International 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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