Baxter International Inc (BAX) Stake Lessened by Tweedy Browne Co LLC

Tweedy Browne Co LLC lessened its stake in shares of Baxter International Inc (NYSE:BAX) by 0.2% in the 4th quarter, HoldingsChannel reports. The fund owned 72,305 shares of the medical instruments supplier’s stock after selling 180 shares during the period. Tweedy Browne Co LLC’s holdings in Baxter International were worth $4,759,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in BAX. Gofen & Glossberg LLC IL grew its stake in shares of Baxter International by 6.9% in the fourth quarter. Gofen & Glossberg LLC IL now owns 15,493 shares of the medical instruments supplier’s stock worth $1,020,000 after purchasing an additional 1,004 shares during the last quarter. First Financial Corp IN boosted its position in shares of Baxter International by 11.9% during the 4th quarter. First Financial Corp IN now owns 1,875 shares of the medical instruments supplier’s stock worth $124,000 after purchasing an additional 200 shares in the last quarter. Retirement Systems of Alabama raised its holdings in shares of Baxter International by 35.0% in the 3rd quarter. Retirement Systems of Alabama now owns 312,010 shares of the medical instruments supplier’s stock worth $24,053,000 after acquiring an additional 80,919 shares during the last quarter. Atlas Capital Advisors LLC raised its holdings in shares of Baxter International by 198.3% in the 3rd quarter. Atlas Capital Advisors LLC now owns 7,932 shares of the medical instruments supplier’s stock worth $602,000 after acquiring an additional 5,273 shares during the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. raised its holdings in shares of Baxter International by 18.0% in the 3rd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 43,055 shares of the medical instruments supplier’s stock worth $3,319,000 after acquiring an additional 6,565 shares during the last quarter. Hedge funds and other institutional investors own 81.58% of the company’s stock.

BAX has been the topic of a number of analyst reports. Zacks Investment Research lowered shares of Baxter International from a “hold” rating to a “sell” rating in a report on Wednesday, January 23rd. Morgan Stanley upgraded shares of Baxter International from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $66.00 to $77.00 in a research note on Wednesday, January 2nd. Argus upgraded 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 note on Friday, November 2nd. Piper Jaffray Companies reduced their target price on shares of Baxter International from $83.00 to $72.00 and set an “overweight” rating for the company in a research report on Thursday, November 1st. Finally, Wells Fargo & Co raised their price objective on shares of Baxter International from $72.00 to $76.00 and gave the stock an “outperform” rating in a report on Tuesday, December 4th. One analyst has rated the stock with a sell rating, three have given a hold rating and thirteen have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $76.19.



In other Baxter International news, insider Third Point Llc sold 8,000,000 shares of Baxter International stock in a transaction on Monday, December 3rd. The shares were sold at an average price of $68.62, for a total transaction of $548,960,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Thomas T. Stallkamp sold 3,187 shares of Baxter International stock in a transaction on Friday, January 18th. The stock was sold at an average price of $70.00, for a total transaction of $223,090.00. Following the sale, the director now directly owns 9,418 shares in the company, valued at approximately $659,260. The disclosure for this sale can be found here. Insiders sold a total of 8,055,348 shares of company stock worth $552,892,722 over the last 90 days. Company insiders own 0.07% of the company’s stock.

Baxter International stock traded up $0.57 during mid-day trading on Friday, reaching $74.60. 615,208 shares of the company’s stock traded hands, compared to its average volume of 2,600,351. The company has a market cap of $39.39 billion, a price-to-earnings ratio of 24.46, a PEG ratio of 1.86 and a beta of 0.99. 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 Inc has a 12-month low of $61.05 and a 12-month high of $78.38.

Baxter International (NYSE:BAX) last announced its earnings results on Thursday, January 31st. The medical instruments supplier reported $0.78 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.05. Baxter International had a net margin of 14.60% and a return on equity of 18.46%. The business had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.80 billion. On average, equities research analysts anticipate that Baxter International Inc will post 3.27 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Friday, March 1st will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.02%. The ex-dividend date of this dividend is Thursday, February 28th. Baxter International’s payout ratio is 24.92%.

Baxter International announced that its Board of Directors has initiated a stock repurchase plan 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 purchase up to 6.1% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.

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About Baxter International

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

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