Cullen Frost Bankers Inc. boosted its stake in shares of Baxter International Inc. (NYSE:BAX) by 37.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 29,529 shares of the medical instruments supplier’s stock after buying an additional 8,015 shares during the period. Cullen Frost Bankers Inc.’s holdings in Baxter International were worth $1,788,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. Quadrant Capital Group LLC increased its stake in 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 during the last quarter. Dumont & Blake Investment Advisors LLC increased its stake in Baxter International by 0.3% in the first quarter. Dumont & Blake Investment Advisors LLC now owns 12,786 shares of the medical instruments supplier’s stock valued at $663,000 after buying an additional 40 shares during the last quarter. Livingston Group Asset Management CO operating as Southport Capital Management increased its stake in Baxter International by 0.3% in the first quarter. Livingston Group Asset Management CO operating as Southport Capital Management now owns 18,079 shares of the medical instruments supplier’s stock valued at $938,000 after buying an additional 54 shares during the last quarter. Reliance Trust Co. of Delaware increased its stake in Baxter International by 1.1% in the first quarter. Reliance Trust Co. of Delaware now owns 5,743 shares of the medical instruments supplier’s stock valued at $298,000 after buying an additional 63 shares during the last quarter. Finally, Clifford Swan Investment Counsel LLC increased its stake in Baxter International by 0.4% in the first quarter. Clifford Swan Investment Counsel LLC now owns 15,204 shares of the medical instruments supplier’s stock valued at $788,000 after buying an additional 67 shares during the last quarter. 85.08% of the stock is owned by institutional investors and hedge funds.

Baxter International Inc. (NYSE:BAX) opened at 59.88 on Monday. The company has a 50-day moving average price of $60.72 and a 200 day moving average price of $54.77. The firm has a market cap of $32.55 billion, a PE ratio of 36.33 and a beta of 0.66. Baxter International Inc. has a 12 month low of $43.13 and a 12 month high of $63.14.

Baxter International (NYSE:BAX) last issued its earnings results on Wednesday, July 26th. The medical instruments supplier reported $0.63 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.06. Baxter International had a net margin of 8.85% and a return on equity of 15.09%. The firm had revenue of $2.61 billion for the quarter, compared to analysts’ expectations of $2.59 billion. During the same quarter last year, the company posted $0.46 earnings per share. Baxter International’s revenue was up .8% on a year-over-year basis. Equities research analysts anticipate that Baxter International Inc. will post $2.39 EPS for the current year.

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

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Several analysts have recently weighed in on the company. Royal Bank Of Canada boosted their target price on Baxter International from $55.00 to $58.00 and gave the company a “sector perform” rating in a report on Thursday, April 27th. BMO Capital Markets reissued a “hold” rating and issued a $55.00 target price on shares of Baxter International in a report on Thursday, April 27th. Cantor Fitzgerald set a $70.00 target price on Baxter International and gave the company a “buy” rating in a report on Wednesday, July 26th. Cowen and Company reissued a “market perform” rating and issued a $68.00 target price (up from $66.00) on shares of Baxter International in a report on Thursday, July 27th. Finally, Morgan Stanley reissued an “underweight” rating and issued a $55.00 target price (up from $52.00) on shares of Baxter International in a report on Tuesday, July 25th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $65.33.

In other Baxter International news, Director Carole J. Shapazian sold 2,618 shares of the firm’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 transaction, the director now owns 9,848 shares of the company’s stock, valued at $570,396.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Carole J. Shapazian sold 3,760 shares of the firm’s stock in a transaction dated Tuesday, May 9th. The stock was 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 directly owns 16,226 shares in the company, valued at approximately $906,871.14. The disclosure for this sale can be found here. Company insiders own 0.05% of the company’s stock.

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

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