Eaton Vance Management maintained its position in shares of Baxter International Inc. (NYSE:BAX) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 322,111 shares of the medical instruments supplier’s stock at the close of the 2nd quarter. Eaton Vance Management owned 0.06% of Baxter International worth $19,501,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. BlackRock Inc. lifted its holdings in Baxter International by 1,941.1% in the 1st quarter. BlackRock Inc. now owns 46,937,709 shares of the medical instruments supplier’s stock worth $2,434,190,000 after purchasing an additional 44,638,052 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Baxter International by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 32,765,687 shares of the medical instruments supplier’s stock worth $1,699,228,000 after purchasing an additional 836,708 shares during the last quarter. State Street Corp lifted its holdings in Baxter International by 2.6% in the 1st quarter. State Street Corp now owns 25,660,985 shares of the medical instruments supplier’s stock worth $1,330,814,000 after purchasing an additional 648,581 shares during the last quarter. Harris Associates L P lifted its holdings in Baxter International by 7.8% in the 1st quarter. Harris Associates L P now owns 14,373,056 shares of the medical instruments supplier’s stock worth $745,387,000 after purchasing an additional 1,039,729 shares during the last quarter. Finally, Veritas Asset Management LLP lifted its holdings in Baxter International by 2.3% in the 2nd quarter. Veritas Asset Management LLP now owns 10,179,102 shares of the medical instruments supplier’s stock worth $616,243,000 after purchasing an additional 227,343 shares during the last quarter. Hedge funds and other institutional investors own 83.70% of the company’s stock.
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Baxter International Inc. (BAX) opened at 63.28 on Friday. The company has a 50 day moving average price of $61.16 and a 200-day moving average price of $57.19. Baxter International Inc. has a 52 week low of $43.13 and a 52 week high of $64.40. The firm has a market capitalization of $34.48 billion, a price-to-earnings ratio of 38.40 and a beta of 0.66.
Baxter International (NYSE:BAX) last released its quarterly earnings results on Wednesday, July 26th. The medical instruments supplier reported $0.63 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.06. The business had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $2.59 billion. Baxter International had a return on equity of 14.82% and a net margin of 8.85%. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. During the same period last year, the firm posted $0.46 EPS. Equities analysts predict that Baxter International Inc. will post $2.39 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 1st will be issued a dividend of $0.16 per share. The ex-dividend date is Wednesday, August 30th. This represents a $0.64 annualized dividend and a yield of 1.01%. Baxter International’s payout ratio is currently 38.79%.
In related news, Director Thomas T. Stallkamp sold 8,920 shares of Baxter International stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $62.28, for a total transaction of $555,537.60. Following the completion of the sale, the director now directly owns 16,263 shares of the company’s stock, valued at approximately $1,012,859.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Carole J. Shapazian sold 4,020 shares of Baxter International stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $61.61, for a total value of $247,672.20. Following the sale, the director now directly owns 13,868 shares of the company’s stock, valued at $854,407.48. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,050 shares of company stock valued at $2,158,587. 0.05% of the stock is currently owned by insiders.
Several equities research analysts recently weighed in on the company. Royal Bank Of Canada restated a “hold” rating and issued a $60.00 target price on shares of Baxter International in a report on Friday, September 1st. Citigroup Inc. started coverage on Baxter International in a report on Thursday, August 17th. They set a “neutral” rating and a $63.00 price target for the company. BidaskClub upgraded Baxter International from a “buy” rating to a “strong-buy” rating in a report on Monday, August 14th. Zacks Investment Research lowered Baxter International from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Finally, UBS AG upped their price target on Baxter International from $57.00 to $62.00 and gave the stock a “neutral” rating in a report on Friday, July 28th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. The stock 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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