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.
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%.
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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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