Canada Pension Plan Investment Board Acquires 144,400 Shares of Baxter International Inc. (NYSE:BAX)
Canada Pension Plan Investment Board raised its position in shares of Baxter International Inc. (NYSE:BAX) by 16.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,040,554 shares of the medical instruments supplier’s stock after buying an additional 144,400 shares during the period. Canada Pension Plan Investment Board’s holdings in Baxter International were worth $62,995,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Reilly Financial Advisors LLC boosted its position 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 worth $107,000 after buying an additional 348 shares during the period. Baker Ellis Asset Management LLC acquired a new position in shares of Baxter International during the second quarter worth about $109,000. Quadrant Capital Group LLC boosted its position 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 worth $113,000 after buying an additional 31 shares during the period. Benjamin F. Edwards & Company Inc. boosted its position 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 worth $131,000 after buying an additional 145 shares during the period. Finally, Bronfman E.L. Rothschild L.P. boosted its position 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 worth $144,000 after buying an additional 103 shares during the period. 85.08% of the stock is owned by institutional investors.
Shares of Baxter International Inc. (BAX) opened at 59.71 on Friday. Baxter International Inc. has a 52 week low of $43.13 and a 52 week high of $63.14. The stock has a 50 day moving average of $60.91 and a 200-day moving average of $55.26. The company has a market capitalization of $32.53 billion, a price-to-earnings ratio of 36.23 and a beta of 0.66.
Baxter International (NYSE:BAX) last announced its quarterly earnings data on Wednesday, July 26th. The medical instruments supplier reported $0.63 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.06. The firm 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 14.82%. Baxter International’s revenue was up .8% on a year-over-year basis. During the same period last year, the firm posted $0.46 EPS. On average, analysts anticipate that Baxter International Inc. will post $2.39 EPS 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 given a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.07%. The ex-dividend date is Wednesday, August 30th. Baxter International’s payout ratio is currently 38.79%.
A number of research analysts recently issued reports on the stock. Zacks Investment Research cut shares of Baxter International from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Barclays PLC lifted their target price on shares of Baxter International from $64.00 to $70.00 and gave the stock an “overweight” rating in a report on Thursday, July 27th. Cowen and Company reaffirmed a “market perform” rating and issued a $66.00 target price (up from $57.00) on shares of Baxter International in a report on Monday, July 10th. Evercore ISI reaffirmed an “outperform” rating and issued a $60.00 target price (up from $57.00) on shares of Baxter International in a report on Saturday, April 29th. Finally, Royal Bank Of Canada lifted their target price on shares of Baxter International from $55.00 to $58.00 and gave the stock a “sector perform” rating in a report on Thursday, April 27th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $65.33.
In related news, Director Carole J. Shapazian sold 2,618 shares of the stock in a transaction that occurred on Tuesday, May 23rd. The shares were sold at an average price of $57.92, for a total value of $151,634.56. Following the completion of the transaction, 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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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