Cubist Systematic Strategies LLC Has $1.41 Million Position in Baxter International Inc (BAX)
Cubist Systematic Strategies LLC cut its stake in Baxter International Inc (NYSE:BAX) by 73.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,045 shares of the medical instruments supplier’s stock after selling 53,271 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Baxter International were worth $1,406,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. Natixis lifted its position in Baxter International by 62.5% in the second quarter. Natixis now owns 716,411 shares of the medical instruments supplier’s stock worth $52,900,000 after buying an additional 275,452 shares during the last quarter. Sei Investments Co. lifted its position in Baxter International by 77.8% in the second quarter. Sei Investments Co. now owns 429,868 shares of the medical instruments supplier’s stock worth $31,742,000 after buying an additional 188,105 shares during the last quarter. CIBC World Markets Inc. lifted its position in Baxter International by 88.9% in the second quarter. CIBC World Markets Inc. now owns 56,270 shares of the medical instruments supplier’s stock worth $4,155,000 after buying an additional 26,479 shares during the last quarter. Swiss National Bank lifted its position in Baxter International by 6.1% in the second quarter. Swiss National Bank now owns 2,191,439 shares of the medical instruments supplier’s stock worth $161,816,000 after buying an additional 125,700 shares during the last quarter. Finally, Montag A & Associates Inc. bought a new stake in Baxter International in the second quarter worth $742,000. Institutional investors own 83.08% of the company’s stock.
A number of research firms have weighed in on BAX. Argus reiterated a “hold” rating on shares of Baxter International in a research note on Tuesday, September 4th. Citigroup increased their target price on Baxter International from $74.00 to $76.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 31st. Piper Jaffray Companies increased their target price on Baxter International from $77.00 to $83.00 and gave the stock an “overweight” rating in a research note on Friday, July 27th. JPMorgan Chase & Co. increased their target price on Baxter International from $80.00 to $85.00 and gave the stock an “overweight” rating in a research note on Friday, July 27th. Finally, Royal Bank of Canada reiterated a “hold” rating and issued a $76.00 target price on shares of Baxter International in a research note on Friday, July 27th. Seven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $76.00.
Baxter International (NYSE:BAX) last announced its quarterly earnings results on Thursday, July 26th. The medical instruments supplier reported $0.77 EPS for the quarter, beating the consensus estimate of $0.71 by $0.06. The firm had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.83 billion. Baxter International had a return on equity of 16.63% and a net margin of 8.29%. The business’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.63 earnings per share. sell-side analysts predict that Baxter International Inc will post 2.98 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 1st. Stockholders of record on Friday, August 31st will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Thursday, August 30th. This represents a $0.76 annualized dividend and a dividend yield of 0.98%. Baxter International’s dividend payout ratio is currently 30.65%.
In other news, Director Carole J. Shapazian sold 5,400 shares of the firm’s stock in a transaction on Wednesday, August 8th. The stock was sold at an average price of $72.97, for a total transaction of $394,038.00. Following the transaction, the director now owns 15,248 shares in the company, valued at $1,112,646.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Scott Pleau sold 27,197 shares of the firm’s stock in a transaction on Monday, June 25th. The shares were sold at an average price of $73.57, for a total value of $2,000,883.29. Following the transaction, the senior vice president now owns 47,363 shares in the company, valued at approximately $3,484,495.91. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 43,283 shares of company stock worth $3,196,371. Insiders own 0.05% of the company’s stock.
Baxter International Company Profile
Baxter International Inc provides a portfolio of healthcare products. The company operates through North and South America; Europe, Middle East and Africa; and Asia-Pacific segments. It offers peritoneal dialysis and hemodialysis, and additional dialysis therapies and services; renal replacement therapies and other organ support therapies focused in the intensive care unit; sterile intravenous (IV) solutions, IV therapies, infusion pumps, administration sets, and drug reconstitution devices; and parenteral nutrition therapies.
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