Atlantic Trust Group LLC grew its position in shares of Baxter International Inc. (NYSE:BAX) by 5.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 26,345 shares of the medical instruments supplier’s stock after acquiring an additional 1,256 shares during the quarter. Atlantic Trust Group LLC’s holdings in Baxter International were worth $1,595,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Baker Ellis Asset Management LLC acquired a new position in shares of Baxter International during the second quarter valued at $109,000. Benjamin F. Edwards & Company Inc. boosted its holdings in shares of Baxter International by 6.1% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 2,533 shares of the medical instruments supplier’s stock valued at $131,000 after acquiring an additional 145 shares during the period. Bronfman E.L. Rothschild L.P. boosted its holdings in shares of Baxter International by 3.9% during the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,776 shares of the medical instruments supplier’s stock valued at $144,000 after acquiring an additional 103 shares during the period. Trust Co. of Vermont boosted its holdings in shares of Baxter International by 8.7% during the first quarter. Trust Co. of Vermont now owns 3,282 shares of the medical instruments supplier’s stock valued at $170,000 after acquiring an additional 262 shares during the period. Finally, Mitchell Mcleod Pugh & Williams Inc. acquired a new position in shares of Baxter International during the second quarter valued at $203,000. 83.70% of the stock is owned by institutional investors.
In other Baxter International news, Director Carole J. Shapazian sold 4,020 shares of the stock in a transaction dated Thursday, August 24th. The stock was sold at an average price of $61.61, for a total value of $247,672.20. Following the transaction, the director now owns 13,868 shares of the company’s stock, valued at $854,407.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Thomas T. Stallkamp sold 8,920 shares of the stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $62.28, for a total value of $555,537.60. Following the completion of the transaction, the director now directly owns 16,263 shares in the company, valued at approximately $1,012,859.64. The disclosure for this sale can be found here. Insiders sold 35,050 shares of company stock worth $2,158,587 in the last three months. Insiders own 0.05% of the company’s stock.
Shares of Baxter International Inc. (NYSE:BAX) opened at 63.28 on Friday. The firm has a market cap of $34.48 billion, a P/E ratio of 38.40 and a beta of 0.66. The firm’s 50-day moving average price is $61.16 and its 200 day moving average price is $57.19. Baxter International Inc. has a 12-month low of $43.13 and a 12-month high of $64.40.
Baxter International (NYSE:BAX) last released its earnings results on Wednesday, July 26th. The medical instruments supplier reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.06. Baxter International had a return on equity of 14.82% and a net margin of 8.85%. The firm had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.59 billion. During the same quarter in the prior year, the firm posted $0.46 earnings per share. The company’s quarterly revenue was up .8% on a year-over-year basis. On average, equities analysts expect that Baxter International Inc. will post $2.39 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 1st will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.01%. The ex-dividend date of this dividend is Wednesday, August 30th. Baxter International’s payout ratio is 38.79%.
BAX has been the subject of several research analyst reports. BidaskClub downgraded shares of Baxter International from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Cantor Fitzgerald set a $70.00 price objective on shares of Baxter International and gave the stock a “buy” rating in a report on Wednesday, July 26th. Goldman Sachs Group, Inc. (The) reaffirmed a “conviction-buy” rating and issued a $71.00 price objective on shares of Baxter International in a report on Tuesday, May 16th. Stifel Nicolaus upped their price objective on shares of Baxter International from $58.00 to $61.00 and gave the stock a “hold” rating in a report on Wednesday, May 31st. Finally, Zacks Investment Research downgraded shares of Baxter International from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $65.31.
Baxter International Company Profile
Baxter International Inc, through its subsidiaries, provides renal and hospital products. The Company operates through two segments: Hospital Products and Renal. Its Hospital Products business manufactures sterile intravenous (IV) solutions and administration sets, premixed drugs and drug-reconstitution systems, pre-filled vials and syringes for injectable drugs, IV nutrition products, parenteral nutrition therapies, infusion pumps, inhalation anesthetics and biosurgery products.
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