Mitsubishi UFJ Trust & Banking Corp Increases Position in Baxter International Inc. (BAX)
Mitsubishi UFJ Trust & Banking Corp boosted its holdings in shares of Baxter International Inc. (NYSE:BAX) by 1.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,108,138 shares of the medical instruments supplier’s stock after acquiring an additional 12,431 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned 0.20% of Baxter International worth $69,536,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Commonwealth Bank of Australia lifted its holdings in shares of Baxter International by 2.8% in the 3rd quarter. Commonwealth Bank of Australia now owns 79,823 shares of the medical instruments supplier’s stock worth $5,003,000 after acquiring an additional 2,186 shares during the last quarter. Grove Bank & Trust lifted its holdings in shares of Baxter International by 526.0% in the 3rd quarter. Grove Bank & Trust now owns 2,285 shares of the medical instruments supplier’s stock worth $143,000 after acquiring an additional 1,920 shares during the last quarter. Zeke Capital Advisors LLC lifted its holdings in shares of Baxter International by 16.9% in the 3rd quarter. Zeke Capital Advisors LLC now owns 16,754 shares of the medical instruments supplier’s stock worth $1,051,000 after acquiring an additional 2,428 shares during the last quarter. Twin Capital Management Inc. lifted its holdings in shares of Baxter International by 9.1% in the 3rd quarter. Twin Capital Management Inc. now owns 151,260 shares of the medical instruments supplier’s stock worth $9,492,000 after acquiring an additional 12,650 shares during the last quarter. Finally, Johnson Financial Group Inc. lifted its holdings in shares of Baxter International by 15.5% in the 3rd quarter. Johnson Financial Group Inc. now owns 21,038 shares of the medical instruments supplier’s stock worth $1,320,000 after acquiring an additional 2,825 shares during the last quarter. 83.58% of the stock is owned by institutional investors.
Baxter International Inc. (NYSE BAX) traded up $0.35 during midday trading on Friday, hitting $65.53. 4,236,400 shares of the company were exchanged, compared to its average volume of 2,698,732. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.80 and a quick ratio of 2.22. The stock has a market cap of $35,680.00, a P/E ratio of 27.29, a price-to-earnings-growth ratio of 2.21 and a beta of 0.68. Baxter International Inc. has a 1 year low of $43.13 and a 1 year high of $66.18.
Baxter International (NYSE:BAX) last issued its quarterly earnings results on Wednesday, October 25th. The medical instruments supplier reported $0.64 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.05. The firm had revenue of $2.71 billion during the quarter, compared to analysts’ expectations of $2.66 billion. Baxter International had a net margin of 9.88% and a return on equity of 15.00%. Baxter International’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.56 EPS. equities analysts expect that Baxter International Inc. will post 2.43 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 1st will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date of this dividend is Thursday, November 30th. Baxter International’s dividend payout ratio is currently 34.59%.
In other news, Director Third Point Llc sold 5,000,000 shares of the firm’s stock in a transaction on Monday, November 6th. The shares were sold at an average price of $64.23, for a total value of $321,150,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Thomas T. Stallkamp sold 8,920 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at approximately $1,012,859.64. The disclosure for this sale can be found here. 0.05% of the stock is owned by corporate insiders.
A number of equities research analysts have issued reports on the stock. Citigroup assumed coverage on shares of Baxter International in a report on Thursday, August 17th. They set a “neutral” rating and a $63.00 target price on the stock. Royal Bank Of Canada reiterated a “hold” rating and set a $60.00 target price on shares of Baxter International in a report on Tuesday, October 3rd. Zacks Investment Research lowered shares of Baxter International from a “buy” rating to a “hold” rating in a report on Monday, October 16th. Cowen set a $68.00 target price on shares of Baxter International and gave the stock a “hold” rating in a report on Sunday, October 15th. Finally, BidaskClub upgraded shares of Baxter International from a “buy” rating to a “strong-buy” rating in a report on Monday, August 14th. Seven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $67.46.
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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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