Smithfield Trust Co. increased its stake in Baxter International Inc. (NYSE:BAX) by 97.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,459 shares of the medical instruments supplier’s stock after buying an additional 3,183 shares during the period. Smithfield Trust Co.’s holdings in Baxter International were worth $391,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of BAX. Reilly Financial Advisors LLC increased its stake in shares of Baxter International by 20.4% in the first quarter. Reilly Financial Advisors LLC now owns 2,054 shares of the medical instruments supplier’s stock valued at $107,000 after buying an additional 348 shares in the last quarter. Quadrant Capital Group LLC increased its stake in shares of Baxter International by 1.3% in the first quarter. Quadrant Capital Group LLC now owns 2,344 shares of the medical instruments supplier’s stock valued at $113,000 after buying an additional 31 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its stake in shares of Baxter International by 6.1% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 2,533 shares of the medical instruments supplier’s stock valued at $131,000 after buying an additional 145 shares in the last quarter. Bronfman E.L. Rothschild L.P. increased its stake in shares of Baxter International by 3.9% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,776 shares of the medical instruments supplier’s stock valued at $144,000 after buying an additional 103 shares in the last quarter. Finally, Trust Co. of Vermont increased its stake in shares of Baxter International by 8.7% in the first quarter. Trust Co. of Vermont now owns 3,282 shares of the medical instruments supplier’s stock valued at $170,000 after buying an additional 262 shares in the last quarter. 84.21% of the stock is owned by institutional investors.

Shares of Baxter International Inc. (NYSE BAX) opened at 59.88 on Friday. Baxter International Inc. has a 1-year low of $43.13 and a 1-year high of $63.14. The firm has a market cap of $32.55 billion, a PE ratio of 36.33 and a beta of 0.66. The stock’s 50 day moving average is $60.72 and its 200-day moving average is $54.77.

Baxter International (NYSE:BAX) last posted its quarterly earnings results on Wednesday, July 26th. The medical instruments supplier reported $0.63 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.06. The company had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.59 billion. Baxter International had a net margin of 8.85% and a return on equity of 15.09%. The firm’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.46 earnings per share. Analysts expect that Baxter International Inc. will post $2.39 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 1st will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.64 annualized dividend and a yield of 1.07%. Baxter International’s payout ratio is currently 38.79%.

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Several brokerages have recently issued reports on BAX. Cowen and Company reissued a “market perform” rating and set a $68.00 price objective (up previously from $66.00) on shares of Baxter International in a research report on Thursday, July 27th. Leerink Swann reissued an “outperform” rating and set a $75.00 price objective (up previously from $67.00) on shares of Baxter International in a research report on Thursday, July 27th. UBS AG increased their price objective on shares of Baxter International from $57.00 to $62.00 and gave the stock a “neutral” rating in a research report on Friday, July 28th. Cantor Fitzgerald set a $70.00 target price on shares of Baxter International and gave the company a “buy” rating in a research report on Wednesday, July 26th. Finally, Barclays PLC raised their target price on shares of Baxter International from $64.00 to $70.00 and gave the company an “overweight” rating in a research report on Thursday, July 27th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $65.33.

In related news, Director Carole J. Shapazian sold 3,760 shares of the stock in a transaction dated Tuesday, May 9th. The shares were sold at an average price of $55.89, for a total transaction of $210,146.40. Following the completion of the transaction, the director now owns 16,226 shares in the company, valued at $906,871.14. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Carole J. Shapazian sold 2,618 shares of the stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $57.92, for a total transaction of $151,634.56. Following the transaction, the director now owns 9,848 shares of the company’s stock, valued at approximately $570,396.16. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 137,110 shares of company stock valued at $7,642,246. 0.05% of the stock is owned by company insiders.

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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Institutional Ownership by Quarter for Baxter International (NYSE:BAX)

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