Johnson Financial Group Inc. Boosts Position in Baxter International Inc. (BAX)
Johnson Financial Group Inc. raised its stake in Baxter International Inc. (NYSE:BAX) by 176.4% during the first quarter, according to its most recent filing with the SEC. The fund owned 4,140 shares of the medical instruments supplier’s stock after buying an additional 2,642 shares during the period. Johnson Financial Group Inc.’s holdings in Baxter International were worth $215,000 at the end of the most recent reporting period.
A number of other large investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Baxter International by 2.6% in the first quarter. Vanguard Group Inc. now owns 32,765,687 shares of the medical instruments supplier’s stock valued at $1,699,228,000 after buying an additional 836,708 shares in the last quarter. Harris Associates L P boosted its stake in shares of Baxter International by 7.8% in the first quarter. Harris Associates L P now owns 14,373,056 shares of the medical instruments supplier’s stock valued at $745,387,000 after buying an additional 1,039,729 shares in the last quarter. Veritas Asset Management LLP boosted its stake in shares of Baxter International by 3.5% in the first quarter. Veritas Asset Management LLP now owns 9,951,759 shares of the medical instruments supplier’s stock valued at $516,098,000 after buying an additional 334,700 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Baxter International by 1.0% in the first quarter. Ameriprise Financial Inc. now owns 8,552,232 shares of the medical instruments supplier’s stock valued at $443,539,000 after buying an additional 88,159 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Baxter International by 12.7% in the first quarter. Geode Capital Management LLC now owns 4,899,789 shares of the medical instruments supplier’s stock valued at $253,752,000 after buying an additional 553,096 shares in the last quarter. Institutional investors own 84.09% of the company’s stock.
Baxter International Inc. (NYSE BAX) opened at 62.12 on Monday. Baxter International Inc. has a 1-year low of $43.13 and a 1-year high of $62.25. The firm’s 50-day moving average is $58.81 and its 200 day moving average is $52.10. The stock has a market capitalization of $33.77 billion, a price-to-earnings ratio of 18.38 and a beta of 0.66.
Baxter International (NYSE:BAX) last issued its earnings results on Wednesday, April 26th. The medical instruments supplier reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.07. Baxter International had a return on equity of 14.03% and a net margin of 18.09%. The business had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.43 billion. During the same period last year, the company earned $0.36 EPS. The company’s revenue for the quarter was up 4.2% on a year-over-year basis. Equities analysts anticipate that Baxter International Inc. will post $2.27 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, July 3rd. Shareholders of record on Friday, June 2nd were paid a $0.16 dividend. The ex-dividend date of this dividend was Wednesday, May 31st. This is an increase from Baxter International’s previous quarterly dividend of $0.13. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.03%. Baxter International’s dividend payout ratio (DPR) is 19.05%.
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Several equities research analysts recently weighed in on BAX shares. Morgan Stanley boosted their price target on shares of Baxter International from $48.00 to $52.00 and gave the stock an “underweight” rating in a research report on Friday, April 28th. BMO Capital Markets upgraded shares of Baxter International from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $55.00 to $70.00 in a research report on Tuesday, July 11th. They noted that the move was a valuation call. Goldman Sachs Group, Inc. (The) restated a “conviction-buy” rating and issued a $71.00 price target on shares of Baxter International in a research report on Tuesday, May 16th. Cantor Fitzgerald started coverage on shares of Baxter International in a research report on Thursday, June 29th. They issued an “overweight” rating and a $70.00 price target on the stock. Finally, Zacks Investment Research cut shares of Baxter International from a “hold” rating to a “sell” rating in a research report on Wednesday, April 5th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and two have given a strong buy rating to the company’s stock. Baxter International has a consensus rating of “Buy” and an average target price of $61.54.
In other Baxter International news, Director Carole J. Shapazian sold 2,618 shares of the firm’s stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $57.92, for a total value of $151,634.56. Following the completion of the sale, the director now directly owns 9,848 shares of the company’s stock, valued at approximately $570,396.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Brik V. Eyre sold 130,732 shares of the firm’s stock in a transaction on Monday, May 8th. The stock was sold at an average price of $55.69, for a total value of $7,280,465.08. Following the completion of the sale, the senior vice president now directly owns 49,966 shares of the company’s stock, valued at $2,782,606.54. The disclosure for this sale can be found here. Insiders sold a total of 137,110 shares of company stock valued at $7,642,246 over the last ninety days. Corporate insiders own 0.05% of the company’s stock.
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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