Coho Partners Ltd. bought a new stake in Baxter International Inc. (NYSE:BAX – Get Rating) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,972,243 shares of the medical instruments supplier’s stock, valued at approximately $100,525,000. Baxter International makes up 1.7% of Coho Partners Ltd.’s holdings, making the stock its 28th biggest position. Coho Partners Ltd. owned approximately 0.39% of Baxter International at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Quent Capital LLC grew its holdings in shares of Baxter International by 8.7% in the third quarter. Quent Capital LLC now owns 2,504 shares of the medical instruments supplier’s stock valued at $135,000 after purchasing an additional 200 shares during the period. Dorsey & Whitney Trust CO LLC increased its holdings in shares of Baxter International by 0.6% during the 2nd quarter. Dorsey & Whitney Trust CO LLC now owns 43,404 shares of the medical instruments supplier’s stock worth $2,789,000 after buying an additional 240 shares during the last quarter. Quantbot Technologies LP raised its position in shares of Baxter International by 1.1% during the 3rd quarter. Quantbot Technologies LP now owns 24,656 shares of the medical instruments supplier’s stock valued at $1,327,000 after buying an additional 272 shares during the period. KB Financial Partners LLC lifted its holdings in Baxter International by 6.2% in the first quarter. KB Financial Partners LLC now owns 4,815 shares of the medical instruments supplier’s stock valued at $373,000 after acquiring an additional 279 shares during the last quarter. Finally, Ancora Advisors LLC grew its position in Baxter International by 29.2% in the first quarter. Ancora Advisors LLC now owns 1,351 shares of the medical instruments supplier’s stock worth $114,000 after acquiring an additional 305 shares during the period. 84.84% of the stock is owned by institutional investors and hedge funds.
Baxter International Trading Down 2.1 %
Shares of Baxter International stock opened at $37.58 on Friday. The company has a debt-to-equity ratio of 2.58, a quick ratio of 1.12 and a current ratio of 1.69. The company has a fifty day simple moving average of $42.28 and a 200-day simple moving average of $50.12. Baxter International Inc. has a 12-month low of $37.35 and a 12-month high of $80.72.
Baxter International Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, April 3rd. Investors of record on Friday, February 24th will be paid a dividend of $0.29 per share. The ex-dividend date is Thursday, February 23rd. This represents a $1.16 dividend on an annualized basis and a yield of 3.09%. Baxter International’s dividend payout ratio is presently -24.02%.
Insider Buying and Selling at Baxter International
In other news, SVP Jacqueline Kunzler sold 3,813 shares of Baxter International stock in a transaction on Tuesday, February 21st. The shares were sold at an average price of $40.50, for a total value of $154,426.50. Following the transaction, the senior vice president now directly owns 16,725 shares of the company’s stock, valued at approximately $677,362.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Baxter International news, SVP Jeanne K. Mason sold 59,477 shares of the company’s stock in a transaction that occurred on Tuesday, January 17th. The stock was sold at an average price of $44.70, for a total transaction of $2,658,621.90. Following the completion of the sale, the senior vice president now directly owns 126,231 shares of the company’s stock, valued at approximately $5,642,525.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Jacqueline Kunzler sold 3,813 shares of Baxter International stock in a transaction that occurred on Tuesday, February 21st. The shares were sold at an average price of $40.50, for a total value of $154,426.50. Following the completion of the transaction, the senior vice president now owns 16,725 shares in the company, valued at $677,362.50. The disclosure for this sale can be found here. 0.21% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
BAX has been the topic of several recent analyst reports. JPMorgan Chase & Co. lowered Baxter International from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $68.00 to $55.00 in a research note on Monday, December 19th. Morgan Stanley dropped their price target on shares of Baxter International from $55.00 to $44.00 and set an “equal weight” rating for the company in a research report on Friday, February 10th. Deutsche Bank Aktiengesellschaft downgraded Baxter International from a “buy” rating to a “hold” rating and cut their price objective for the company from $69.00 to $51.00 in a report on Thursday, December 15th. StockNews.com started coverage on shares of Baxter International in a report on Thursday. They set a “hold” rating on the stock. Finally, Citigroup cut their price target on Baxter International from $58.00 to $44.00 and set a “neutral” rating on the stock in a report on Monday, February 13th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $55.14.
About Baxter International
Baxter International, Inc engages in the provision of a portfolio of essential healthcare products including acute and chronic dialysis therapies, sterile intravenous (IV) solutions, infusion systems and devices, parenteral nutrition therapies, inhaled anesthetics, generic injectable pharmaceuticals, surgical hemostat and sealant products, surgical equipment, smart bed systems, patient monitoring and diagnostic technologies, and respiratory health devices.
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