Baxter International Inc. (BAX) Stake Decreased by Garrison Financial Corp
Garrison Financial Corp decreased its stake in Baxter International Inc. (NYSE:BAX) by 0.7% during the second quarter, Holdings Channel reports. The firm owned 5,676 shares of the medical instruments supplier’s stock after selling 40 shares during the period. Garrison Financial Corp’s holdings in Baxter International were worth $344,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently bought and sold shares of BAX. Mirae Asset Global Investments Co. Ltd. purchased a new position in Baxter International during the first quarter valued at approximately $365,000. Sivik Global Healthcare LLC purchased a new position in Baxter International during the first quarter valued at approximately $5,705,000. Hermes Investment Management Ltd. raised its position in Baxter International by 4,510.9% in the first quarter. Hermes Investment Management Ltd. now owns 882,074 shares of the medical instruments supplier’s stock valued at $45,744,000 after buying an additional 862,944 shares during the period. Envestnet Asset Management Inc. raised its position in Baxter International by 1.0% in the first quarter. Envestnet Asset Management Inc. now owns 268,759 shares of the medical instruments supplier’s stock valued at $13,939,000 after buying an additional 2,564 shares during the period. Finally, Veritas Asset Management LLP raised its position in Baxter International by 3.5% in the first quarter. Veritas Asset Management LLP now owns 9,951,759 shares of the medical instruments supplier’s stock valued at $516,098,000 after buying an additional 334,700 shares during the period. Hedge funds and other institutional investors own 85.08% of the company’s stock.
Shares of Baxter International Inc. (BAX) opened at 59.84 on Friday. The stock has a market capitalization of $32.61 billion, a P/E ratio of 36.31 and a beta of 0.66. The stock has a 50 day moving average of $60.89 and a 200 day moving average of $55.35. Baxter International Inc. has a 12-month low of $43.13 and a 12-month high of $63.14.
Baxter International (NYSE:BAX) last released its quarterly earnings data on Wednesday, July 26th. The medical instruments supplier reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.06. Baxter International had a net margin of 8.85% and a return on equity of 14.82%. The company 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 earned $0.46 earnings per share. The firm’s revenue for the quarter 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 fiscal year.
The business also recently disclosed 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 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 payout ratio is currently 38.79%.
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A number of research analysts have issued reports on BAX shares. Evercore ISI restated an “outperform” rating and set a $57.00 price target on shares of Baxter International in a research note on Monday, April 17th. BMO Capital Markets restated a “hold” rating and set a $55.00 price target on shares of Baxter International in a research note on Thursday, April 27th. Royal Bank Of Canada upped their price target on shares of Baxter International from $55.00 to $58.00 and gave the company a “sector perform” rating in a research note on Thursday, April 27th. Morgan Stanley upped their price target on shares of Baxter International from $48.00 to $52.00 and gave the company an “underweight” rating in a research note on Friday, April 28th. Finally, Cowen and Company upped their price target on shares of Baxter International from $48.00 to $57.00 and gave the company a “market perform” rating in a research note on Monday, May 1st. One research analyst has rated the stock with a sell rating, six have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $65.33.
In other news, Director Carole J. Shapazian sold 2,618 shares of Baxter International stock in a transaction 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 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.05% of the stock is currently owned by company 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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