IFP Advisors Inc Reduces Stake in Baxter International Inc. (BAX)
IFP Advisors Inc decreased its position in Baxter International Inc. (NYSE:BAX) by 6.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 17,121 shares of the medical instruments supplier’s stock after selling 1,135 shares during the period. IFP Advisors Inc’s holdings in Baxter International were worth $1,037,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in BAX. Atria Investments LLC boosted its stake in Baxter International by 15.4% in the first quarter. Atria Investments LLC now owns 10,300 shares of the medical instruments supplier’s stock worth $534,000 after buying an additional 1,373 shares in the last quarter. BKD Wealth Advisors LLC boosted its stake in Baxter International by 30.8% in the first quarter. BKD Wealth Advisors LLC now owns 38,282 shares of the medical instruments supplier’s stock worth $1,985,000 after buying an additional 9,005 shares in the last quarter. North American Management Corp boosted its stake in Baxter International by 2.6% in the first quarter. North American Management Corp now owns 101,941 shares of the medical instruments supplier’s stock worth $5,287,000 after buying an additional 2,573 shares in the last quarter. Private Trust Co. NA boosted its stake in Baxter International by 0.5% in the first quarter. Private Trust Co. NA now owns 29,465 shares of the medical instruments supplier’s stock worth $1,528,000 after buying an additional 154 shares in the last quarter. Finally, Horrell Capital Management Inc. boosted its stake in Baxter International by 0.4% in the first quarter. Horrell Capital Management Inc. now owns 27,260 shares of the medical instruments supplier’s stock worth $1,414,000 after buying an additional 100 shares in the last quarter. 85.08% of the stock is owned by institutional investors and hedge funds.
Baxter International Inc. (NYSE:BAX) opened at 60.02 on Thursday. The company’s 50-day moving average is $60.92 and its 200-day moving average is $55.22. Baxter International Inc. has a 52-week low of $43.13 and a 52-week high of $63.14. The firm has a market capitalization of $32.63 billion, a price-to-earnings ratio of 36.42 and a beta of 0.66.
Baxter International (NYSE:BAX) last posted its 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. Baxter International had a net margin of 8.85% and a return on equity of 14.82%. The firm had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.59 billion. During the same period last year, the firm posted $0.46 EPS. The firm’s revenue for the quarter was up .8% on a year-over-year basis. Equities analysts predict that Baxter International Inc. will post $2.39 earnings per share 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 dividend of $0.16 per share. The ex-dividend date is Wednesday, August 30th. This represents a $0.64 annualized dividend and a yield of 1.07%. Baxter International’s dividend payout ratio (DPR) is currently 38.79%.
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A number of analysts have recently commented on the stock. Morgan Stanley reissued an “underweight” rating and set a $55.00 target price (up previously from $52.00) on shares of Baxter International in a research note on Tuesday, July 25th. Cantor Fitzgerald set a $70.00 target price on shares of Baxter International and gave the stock a “buy” rating in a research note on Wednesday, July 26th. Barclays PLC boosted their target price on shares of Baxter International from $64.00 to $70.00 and gave the stock an “overweight” rating in a research note on Thursday, July 27th. BMO Capital Markets raised shares of Baxter International from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $55.00 to $70.00 in a research note on Tuesday, July 11th. They noted that the move was a valuation call. Finally, Cowen and Company reissued a “market perform” rating and set a $66.00 target price (up previously from $57.00) on shares of Baxter International in a research note on Monday, July 10th. One research analyst has rated the stock with a sell rating, six have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Baxter International currently has a consensus rating of “Buy” and a consensus 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 transaction of $151,634.56. Following the completion of the transaction, the director now directly owns 9,848 shares in the company, valued at approximately $570,396.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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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