B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund Sells 1,819 Shares of Baxter International Inc. (BAX)
B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund decreased its position in shares of Baxter International Inc. (NYSE:BAX) by 7.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 22,397 shares of the medical instruments supplier’s stock after selling 1,819 shares during the period. B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund’s holdings in Baxter International were worth $1,162,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in the stock. Credit Suisse AG increased its stake in Baxter International by 10.3% in the first quarter. Credit Suisse AG now owns 1,196,883 shares of the medical instruments supplier’s stock worth $62,072,000 after buying an additional 111,580 shares during the last quarter. Caxton Associates LP acquired a new stake in Baxter International during the first quarter worth about $565,000. Colonial Trust Advisors increased its stake in Baxter International by 2.2% in the first quarter. Colonial Trust Advisors now owns 30,122 shares of the medical instruments supplier’s stock worth $1,697,000 after buying an additional 651 shares during the last quarter. Edgestream Partners L.P. acquired a new stake in Baxter International during the first quarter worth about $215,000. Finally, BlueCrest Capital Management Ltd acquired a new stake in Baxter International during the first quarter worth about $2,075,000. 84.09% of the stock is currently owned by institutional investors.
Baxter International Inc. (BAX) opened at 62.67 on Friday. The stock has a 50 day moving average of $60.23 and a 200-day moving average of $53.80. Baxter International Inc. has a 12-month low of $43.13 and a 12-month high of $63.14. The company has a market capitalization of $34.07 billion, a PE ratio of 18.55 and a beta of 0.66.
Baxter International (NYSE:BAX) last issued its quarterly earnings data on Wednesday, April 26th. The medical instruments supplier reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.07. The firm had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.43 billion. Baxter International had a net margin of 18.09% and a return on equity of 14.03%. Baxter International’s revenue was up 4.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.36 EPS. Equities analysts expect that Baxter International Inc. will post $2.27 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 1st will be issued a $0.16 dividend. The ex-dividend date is Wednesday, August 30th. This represents a $0.64 annualized dividend and a yield of 1.02%. Baxter International’s dividend payout ratio (DPR) is currently 19.05%.
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A number of research firms recently issued reports on BAX. BMO Capital Markets raised shares of Baxter International from a “market perform” rating to an “outperform” rating and upped their price target for the company from $55.00 to $70.00 in a research note on Tuesday, July 11th. They noted that the move was a valuation call. Cowen and Company reaffirmed a “market perform” rating and set a $66.00 price target (up previously from $57.00) on shares of Baxter International in a research note on Monday, July 10th. Cantor Fitzgerald began coverage on shares of Baxter International in a research note on Thursday, June 29th. They set an “overweight” rating and a $70.00 price target on the stock. Barclays PLC upped their price target on shares of Baxter International from $62.00 to $64.00 and gave the company an “overweight” rating in a research note on Wednesday, June 14th. Finally, Stifel Nicolaus upped their price target on shares of Baxter International from $58.00 to $61.00 and gave the company a “hold” rating in a research note on Wednesday, May 31st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $61.54.
In related news, Director Carole J. Shapazian sold 2,618 shares of the business’s stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $57.92, for a total value of $151,634.56. Following the sale, the director now directly owns 9,848 shares in the company, valued at approximately $570,396.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Brik V. Eyre sold 130,732 shares of the business’s stock in a transaction dated Monday, May 8th. The shares were sold at an average price of $55.69, for a total transaction of $7,280,465.08. Following the completion of the sale, the senior vice president now owns 49,966 shares in the company, valued at $2,782,606.54. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 137,110 shares of company stock worth $7,642,246. 0.05% of the stock is owned by insiders.
About Baxter International
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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