SignalPoint Asset Management LLC Purchases Shares of 4,723 Baxter International Inc. (BAX)
SignalPoint Asset Management LLC acquired a new position in shares of Baxter International Inc. (NYSE:BAX) during the second quarter, Holdings Channel reports. The fund acquired 4,723 shares of the company’s stock, valued at approximately $214,000.
Several other hedge funds have also recently added to or reduced their stakes in the stock. Lebenthal Asset Management LLC purchased a new stake in Baxter International during the first quarter worth about $1,100,000. Arizona State Retirement System boosted its stake in Baxter International by 1.9% in the first quarter. Arizona State Retirement System now owns 217,912 shares of the company’s stock worth $8,952,000 after buying an additional 4,000 shares in the last quarter. Babson Capital Management LLC purchased a new stake in Baxter International during the first quarter worth about $3,525,000. Panagora Asset Management Inc. boosted its stake in shares of Baxter International by 1,888.1% in the first quarter. Panagora Asset Management Inc. now owns 589,168 shares of the company’s stock worth $24,203,000 after buying an additional 559,533 shares during the period. Finally, Bellevue Group AG bought a new stake in shares of Baxter International during the first quarter worth $5,340,000. Institutional investors and hedge funds own 84.79% of the company’s stock.
Shares of Baxter International Inc. (NYSE:BAX) traded up 0.63% during trading on Thursday, hitting $48.22. The stock had a trading volume of 2,955,755 shares. Baxter International Inc. has a 1-year low of $32.62 and a 1-year high of $49.49. The firm’s 50 day moving average is $47.05 and its 200 day moving average is $45.28. The company has a market cap of $26.23 billion, a PE ratio of 5.54 and a beta of 0.71.
Baxter International (NYSE:BAX) last released its earnings results on Tuesday, July 26th. The company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.06. The company earned $2.60 billion during the quarter, compared to analyst estimates of $2.51 billion. Baxter International had a return on equity of 10.70% and a net margin of 47.74%. Baxter International’s quarterly revenue was up 4.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.00 earnings per share. Equities research analysts anticipate that Baxter International Inc. will post $1.73 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Friday, September 2nd were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.08%. The ex-dividend date was Wednesday, August 31st. Baxter International’s dividend payout ratio is presently 5.99%.
A number of analysts have weighed in on the company. Zacks Investment Research cut Baxter International from a “buy” rating to a “hold” rating in a research report on Thursday. RBC Capital Markets reiterated a “hold” rating and issued a $50.00 price target (up from $47.00) on shares of Baxter International in a research report on Wednesday, July 27th. Royal Bank Of Canada upped their price target on Baxter International from $47.00 to $50.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 27th. Argus reiterated a “hold” rating on shares of Baxter International in a research report on Monday, August 15th. Finally, JPMorgan Chase & Co. upped their price target on Baxter International from $45.00 to $48.00 and gave the company a “neutral” rating in a research report on Wednesday, July 27th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $48.25.
About Baxter International
Baxter International Inc, through its subsidiaries, provides a portfolio of essential renal and hospital products, including home, acute and in-center dialysis; sterile intravenous (IV) solutions; infusion systems and devices; parenteral nutrition; biosurgery products and anesthetics, and pharmacy automation, software and services.
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