A. D. Beadell Investment Counsel Inc. acquired a new stake in Baxter International Inc. (NYSE:BAX – Get Rating) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 3,400 shares of the medical instruments supplier’s stock, valued at approximately $218,000.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Rosenberg Matthew Hamilton raised its holdings in Baxter International by 252.8% during the 1st quarter. Rosenberg Matthew Hamilton now owns 441 shares of the medical instruments supplier’s stock valued at $34,000 after buying an additional 316 shares during the last quarter. Herold Advisors Inc. bought a new stake in Baxter International during the 1st quarter valued at $47,000. EverSource Wealth Advisors LLC bought a new stake in Baxter International during the 4th quarter valued at $76,000. James Investment Research Inc. bought a new stake in Baxter International during the 1st quarter valued at $105,000. Finally, Ancora Advisors LLC raised its holdings in Baxter International by 29.2% during the 1st quarter. Ancora Advisors LLC now owns 1,351 shares of the medical instruments supplier’s stock valued at $114,000 after buying an additional 305 shares during the last quarter. 84.69% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
BAX has been the topic of several research analyst reports. Morgan Stanley reduced their price target on shares of Baxter International from $86.00 to $72.00 and set an “overweight” rating on the stock in a research report on Friday, July 29th. JPMorgan Chase & Co. reduced their price target on Baxter International from $90.00 to $78.00 and set an “overweight” rating on the stock in a research note on Friday, June 24th. Cowen reduced their target price on shares of Baxter International from $95.00 to $70.00 in a research report on Friday, July 29th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Baxter International from $99.00 to $69.00 in a report on Friday, July 29th. Finally, The Goldman Sachs Group restated a “sell” rating and issued a $60.00 price target (down previously from $70.00) on shares of Baxter International in a research note on Wednesday, August 3rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $77.69.
Baxter International Stock Performance
Baxter International (NYSE:BAX – Get Rating) last issued its earnings results on Thursday, July 28th. The medical instruments supplier reported $0.87 earnings per share for the quarter, hitting the consensus estimate of $0.87. The company had revenue of $3.75 billion during the quarter, compared to the consensus estimate of $3.88 billion. Baxter International had a net margin of 7.12% and a return on equity of 21.75%. Baxter International’s quarterly revenue was up 20.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.80 EPS. On average, equities research analysts expect that Baxter International Inc. will post 3.63 EPS for the current fiscal year.
Baxter International Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Friday, September 2nd will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 2.12%. The ex-dividend date is Thursday, September 1st. Baxter International’s dividend payout ratio (DPR) is presently 58.00%.
Baxter International Company Profile
Baxter International Inc, through its subsidiaries, develops and provides a portfolio of healthcare products worldwide. The company offers peritoneal dialysis and hemodialysis, and additional dialysis therapies and services; intravenous therapies, infusion pumps, administration sets, and drug reconstitution devices; remixed and oncology drug platforms, inhaled anesthesia and critical care products and pharmacy compounding services; parenteral nutrition therapies and related products; biological products and medical devices used in surgical procedures for hemostasis, tissue sealing and adhesion prevention; and continuous renal replacement therapies and other organ support therapies focused in the intensive care unit.
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