Raymond James & Associates Has $21.33 Million Stock Position in Baxter International Inc (NYSE:BAX)

Raymond James & Associates lowered its position in shares of Baxter International Inc (NYSE:BAX) by 9.9% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 247,691 shares of the medical instruments supplier’s stock after selling 27,108 shares during the quarter. Raymond James & Associates’ holdings in Baxter International were worth $21,326,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of BAX. Pathway Financial Advisors LLC bought a new position in shares of Baxter International in the second quarter worth about $202,000. AXA increased its stake in shares of Baxter International by 11.3% during the first quarter. AXA now owns 264,833 shares of the medical instruments supplier’s stock valued at $21,502,000 after buying an additional 26,988 shares during the period. Rock Springs Capital Management LP increased its stake in shares of Baxter International by 22.9% during the first quarter. Rock Springs Capital Management LP now owns 645,000 shares of the medical instruments supplier’s stock valued at $52,368,000 after buying an additional 120,000 shares during the period. APG Asset Management N.V. grew its stake in Baxter International by 307.9% in the first quarter. APG Asset Management N.V. now owns 512,605 shares of the medical instruments supplier’s stock worth $41,618,000 after purchasing an additional 386,934 shares during the period. Finally, Creative Financial Designs Inc. ADV bought a new stake in Baxter International in the second quarter worth $30,000. Hedge funds and other institutional investors own 83.74% of the company’s stock.

Shares of NYSE BAX opened at $86.38 on Friday. The stock has a market cap of $43.62 billion, a P/E ratio of 26.10, a PEG ratio of 2.75 and a beta of 0.84. The company has a current ratio of 2.74, a quick ratio of 2.19 and a debt-to-equity ratio of 0.84. Baxter International Inc has a 12-month low of $69.10 and a 12-month high of $95.19. The business’s fifty day simple moving average is $86.00 and its 200-day simple moving average is $86.95.

Baxter International (NYSE:BAX) last announced its quarterly earnings data on Thursday, July 30th. The medical instruments supplier reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.07). The company had revenue of $2.72 billion during the quarter, compared to analyst estimates of $2.86 billion. Baxter International had a net margin of 8.10% and a return on equity of 21.02%. The firm’s revenue was down 4.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.89 earnings per share. On average, equities analysts forecast that Baxter International Inc will post 3.05 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Monday, August 31st will be issued a $0.245 dividend. This represents a $0.98 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend is Friday, August 28th. Baxter International’s dividend payout ratio (DPR) is presently 29.61%.

In related news, SVP Andrew Frye sold 3,742 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $91.00, for a total transaction of $340,522.00. Following the transaction, the senior vice president now owns 16,216 shares of the company’s stock, valued at $1,475,656. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director John D. Forsyth sold 1,500 shares of the firm’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $82.95, for a total value of $124,425.00. Following the transaction, the director now directly owns 35,398 shares in the company, valued at approximately $2,936,264.10. The disclosure for this sale can be found here. Insiders sold 77,583 shares of company stock worth $6,613,932 in the last three months. 0.13% of the stock is currently owned by corporate insiders.

A number of research analysts have weighed in on the company. JPMorgan Chase & Co. increased their target price on Baxter International from $94.00 to $96.00 and gave the company an “overweight” rating in a report on Tuesday, April 28th. Zacks Investment Research cut Baxter International from a “hold” rating to a “sell” rating and set a $93.00 target price for the company. in a research report on Tuesday, July 7th. SVB Leerink increased their target price on Baxter International from $96.00 to $105.00 and gave the stock an “outperform” rating in a research report on Friday, May 1st. Barclays restated a “hold” rating and set a $84.00 price target on shares of Baxter International in a report on Tuesday, April 14th. Finally, Piper Sandler raised their price target on Baxter International from $90.00 to $100.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. One analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $96.72.

About Baxter International

Baxter International Inc, through its subsidiaries, develops and provides a portfolio of healthcare products. The company operates through North and South America; Europe, Middle East and Africa; and Asia-Pacific segments. The company 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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