Webster Bank N. A. Sells 575 Shares of Baxter International Inc (BAX)

Webster Bank N. A. lessened its holdings in shares of Baxter International Inc (NYSE:BAX) by 44.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 725 shares of the medical instruments supplier’s stock after selling 575 shares during the period. Webster Bank N. A.’s holdings in Baxter International were worth $48,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Bridgeworth LLC bought a new stake in shares of Baxter International during the 2nd quarter valued at about $102,000. Point72 Hong Kong Ltd bought a new stake in shares of Baxter International during the 3rd quarter valued at about $122,000. Centaurus Financial Inc. bought a new stake in shares of Baxter International during the 2nd quarter valued at about $117,000. Bell Rock Capital LLC bought a new stake in shares of Baxter International during the 3rd quarter valued at about $134,000. Finally, Baxter Bros Inc. bought a new stake in shares of Baxter International during the 3rd quarter valued at about $201,000. 83.28% of the stock is owned by institutional investors and hedge funds.

In other news, Director Carole J. Shapazian sold 11,749 shares of the company’s stock in a transaction that occurred on Monday, December 3rd. The shares were sold at an average price of $68.48, for a total value of $804,571.52. Following the completion of the sale, the director now directly owns 15,237 shares of the company’s stock, valued at approximately $1,043,429.76. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Third Point Llc sold 8,000,000 shares of the company’s stock in a transaction that occurred on Monday, December 3rd. The stock was sold at an average price of $68.62, for a total transaction of $548,960,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 8,013,249 shares of company stock valued at $549,865,102. Company insiders own 0.07% of the company’s stock.



A number of equities research analysts recently weighed in on BAX shares. Argus raised shares of Baxter International from a “hold” rating to a “buy” rating and set a $70.00 price objective for the company in a research report on Friday, November 2nd. Zacks Investment Research raised shares of Baxter International from a “hold” rating to a “buy” rating and set a $87.00 target price for the company in a research note on Tuesday, September 25th. ValuEngine raised shares of Baxter International from a “hold” rating to a “buy” rating in a research note on Thursday, November 15th. UBS Group assumed coverage on shares of Baxter International in a research note on Tuesday, November 27th. They set a “buy” rating and a $80.00 target price for the company. Finally, Citigroup raised shares of Baxter International from a “neutral” rating to a “buy” rating and boosted their target price for the company from $69.00 to $76.00 in a research note on Wednesday, January 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $76.00.

Baxter International stock opened at $67.31 on Friday. The stock has a market cap of $35.72 billion, a price-to-earnings ratio of 27.14, a PEG ratio of 1.67 and a beta of 0.96. Baxter International Inc has a 52-week low of $61.05 and a 52-week high of $78.38. The company has a quick ratio of 1.96, a current ratio of 2.60 and a debt-to-equity ratio of 0.38.

Baxter International (NYSE:BAX) last issued its quarterly earnings results on Wednesday, October 31st. The medical instruments supplier reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.06. The company had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.79 billion. Baxter International had a net margin of 10.90% and a return on equity of 17.67%. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.64 EPS. Equities analysts forecast that Baxter International Inc will post 3 EPS for the current fiscal year.

Baxter International announced that its board has approved a stock repurchase plan on Tuesday, November 13th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the medical instruments supplier to purchase up to 6.1% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 2nd. Stockholders of record on Monday, December 3rd were paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date of this dividend was Friday, November 30th. Baxter International’s dividend payout ratio is currently 30.65%.

ILLEGAL ACTIVITY WARNING: This article was first reported by Dakota Financial News and is owned by of Dakota Financial News. If you are accessing this article on another publication, it was illegally copied and republished in violation of international copyright and trademark law. The original version of this article can be accessed at https://dakotafinancialnews.com/2019/01/11/webster-bank-n-a-sells-575-shares-of-baxter-international-inc-bax.html.

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.

See Also: What is a put option?

Want to see what other hedge funds are holding BAX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Baxter International Inc (NYSE:BAX).

Institutional Ownership by Quarter for Baxter International (NYSE:BAX)

Receive News & Ratings for Baxter International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Baxter International and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply