Teachers Advisors LLC Has $93.37 Million Position in Baxter International Inc. (BAX)
Teachers Advisors LLC increased its stake in shares of Baxter International Inc. (NYSE:BAX) by 10.8% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,542,288 shares of the medical instruments supplier’s stock after buying an additional 149,832 shares during the quarter. Teachers Advisors LLC owned about 0.28% of Baxter International worth $93,370,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in the stock. BlackRock Inc. lifted its position in Baxter International by 1,941.1% during the first quarter. BlackRock Inc. now owns 46,937,709 shares of the medical instruments supplier’s stock worth $2,434,190,000 after buying an additional 44,638,052 shares in the last quarter. Vanguard Group Inc. lifted its position in Baxter International by 2.6% during the first quarter. Vanguard Group Inc. now owns 32,765,687 shares of the medical instruments supplier’s stock worth $1,699,228,000 after buying an additional 836,708 shares in the last quarter. State Street Corp lifted its position in Baxter International by 2.6% during the first quarter. State Street Corp now owns 25,660,985 shares of the medical instruments supplier’s stock worth $1,330,814,000 after buying an additional 648,581 shares in the last quarter. Harris Associates L P lifted its position in Baxter International by 7.8% during the first quarter. Harris Associates L P now owns 14,373,056 shares of the medical instruments supplier’s stock worth $745,387,000 after buying an additional 1,039,729 shares in the last quarter. Finally, Veritas Asset Management LLP lifted its position in Baxter International by 2.3% during the second quarter. Veritas Asset Management LLP now owns 10,179,102 shares of the medical instruments supplier’s stock worth $616,243,000 after buying an additional 227,343 shares in the last quarter. Hedge funds and other institutional investors own 83.71% of the company’s stock.
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A number of equities analysts recently commented on the company. BidaskClub upgraded Baxter International from a “buy” rating to a “strong-buy” rating in a research report on Monday, August 14th. Zacks Investment Research downgraded Baxter International from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Barclays PLC lifted their price objective on Baxter International from $64.00 to $70.00 and gave the stock an “overweight” rating in a research report on Thursday, July 27th. Cowen and Company reiterated a “market perform” rating and set a $66.00 price objective (up previously from $57.00) on shares of Baxter International in a research report on Monday, July 10th. Finally, Leerink Swann reiterated 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. One research analyst has rated the stock with a sell rating, six have given a hold rating, six have given a buy rating and two have given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $65.31.
In related news, Director Carole J. Shapazian sold 4,020 shares of Baxter International stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $61.61, for a total value of $247,672.20. Following the completion of the sale, the director now owns 13,868 shares of the company’s stock, valued at approximately $854,407.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Giuseppe Accogli sold 12,670 shares of Baxter International stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $60.96, for a total transaction of $772,363.20. Following the completion of the sale, the senior vice president now directly owns 33,286 shares of the company’s stock, valued at approximately $2,029,114.56. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,050 shares of company stock valued at $2,158,587. 0.05% of the stock is owned by company insiders.
Shares of Baxter International Inc. (NYSE BAX) opened at 64.3612 on Thursday. The stock’s 50 day moving average price is $61.24 and its 200 day moving average price is $57.49. The firm has a market capitalization of $35.07 billion, a P/E ratio of 39.0541 and a beta of 0.66. Baxter International Inc. has a 52 week low of $43.13 and a 52 week high of $64.56.
Baxter International (NYSE:BAX) last released its quarterly earnings data on Wednesday, July 26th. The medical instruments supplier reported $0.63 earnings per share (EPS) for the quarter, beating the 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 business had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.59 billion. During the same quarter in the previous year, the business earned $0.46 EPS. Baxter International’s quarterly revenue was up .8% compared to the same quarter last year. On average, analysts predict that Baxter International Inc. will post $2.39 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 1st will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 0.99%. The ex-dividend date of this dividend is Wednesday, August 30th. Baxter International’s payout ratio is presently 38.79%.
Baxter International 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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