Baxter International Inc. (BAX) Shares Bought by KCM Investment Advisors LLC
KCM Investment Advisors LLC lifted its stake in Baxter International Inc. (NYSE:BAX) by 2.9% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,625 shares of the medical instruments supplier’s stock after purchasing an additional 214 shares during the quarter. KCM Investment Advisors LLC’s holdings in Baxter International were worth $462,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in the stock. Eqis Capital Management Inc. increased its holdings in Baxter International by 100.7% in the 1st quarter. Eqis Capital Management Inc. now owns 16,926 shares of the medical instruments supplier’s stock worth $878,000 after buying an additional 8,494 shares during the period. State Board of Administration of Florida Retirement System increased its holdings in Baxter International by 0.3% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 788,804 shares of the medical instruments supplier’s stock worth $40,907,000 after buying an additional 2,300 shares during the period. First Trust Advisors LP increased its holdings in Baxter International by 9.0% in the 1st quarter. First Trust Advisors LP now owns 947,025 shares of the medical instruments supplier’s stock worth $49,113,000 after buying an additional 77,893 shares during the period. DekaBank Deutsche Girozentrale increased its holdings in Baxter International by 4.0% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 157,226 shares of the medical instruments supplier’s stock worth $8,255,000 after buying an additional 5,995 shares during the period. Finally, Daiwa Securities Group Inc. increased its holdings in Baxter International by 43.2% in the 1st quarter. Daiwa Securities Group Inc. now owns 227,800 shares of the medical instruments supplier’s stock worth $11,814,000 after buying an additional 68,700 shares during the period. 83.71% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts recently weighed in on the stock. Royal Bank Of Canada reiterated a “hold” rating and issued a $60.00 price target on shares of Baxter International in a report on Friday, September 1st. Morgan Stanley reiterated an “underweight” rating and issued a $55.00 price target (up previously from $52.00) on shares of Baxter International in a report on Tuesday, July 25th. Citigroup Inc. assumed coverage on shares of Baxter International in a report on Thursday, August 17th. They issued a “neutral” rating and a $63.00 price target on the stock. Barclays PLC increased their price target 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. Finally, Cantor Fitzgerald set a $70.00 price target on shares of Baxter International and gave the stock a “buy” rating in a report on Wednesday, July 26th. One research analyst has rated the stock with a sell rating, six have given a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $65.31.
In other news, Director Thomas T. Stallkamp sold 8,920 shares of the company’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $62.28, for a total transaction of $555,537.60. Following the completion of the sale, the director now owns 16,263 shares in the company, valued at $1,012,859.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Giuseppe Accogli sold 12,670 shares of the company’s stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $60.96, for a total value of $772,363.20. Following the sale, the senior vice president now 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. Insiders have sold 35,050 shares of company stock valued at $2,158,587 in the last 90 days. Company insiders own 0.05% of the company’s stock.
Shares of Baxter International Inc. (NYSE:BAX) traded down 0.56% during midday trading on Friday, hitting $63.96. 4,525,594 shares of the stock were exchanged. The firm has a 50 day moving average of $61.50 and a 200-day moving average of $57.69. Baxter International Inc. has a one year low of $43.13 and a one year high of $64.75. The company has a market cap of $34.85 billion, a price-to-earnings ratio of 38.81 and a beta of 0.66.
Baxter International (NYSE:BAX) last released its quarterly earnings results on Wednesday, July 26th. The medical instruments supplier reported $0.63 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.06. Baxter International had a return on equity of 14.82% and a net margin of 8.85%. The business had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $2.59 billion. During the same quarter in the prior year, the business earned $0.46 earnings per share. The company’s quarterly revenue was up .8% compared to the same quarter last year. Equities analysts expect that Baxter International Inc. will post $2.39 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 1st will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.00%. The ex-dividend date is Wednesday, August 30th. Baxter International’s dividend payout ratio (DPR) is presently 38.79%.
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Baxter International Company 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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