Baxter International Inc (BAX) Shares Sold by Northern Trust Corp
Northern Trust Corp lessened its stake in Baxter International Inc (NYSE:BAX) by 3.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,580,420 shares of the medical instruments supplier’s stock after selling 342,147 shares during the quarter. Northern Trust Corp owned about 1.61% of Baxter International worth $633,579,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of BAX. Bridgeworth LLC acquired a new stake in shares of Baxter International in the second quarter valued at approximately $102,000. Migdal Insurance & Financial Holdings Ltd. grew its position in Baxter International by 3,088.9% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,435 shares of the medical instruments supplier’s stock worth $106,000 after acquiring an additional 1,390 shares during the period. Baker Ellis Asset Management LLC purchased a new position in Baxter International in the second quarter worth approximately $111,000. Centaurus Financial Inc. purchased a new position in Baxter International in the second quarter worth approximately $117,000. Finally, Ostrum Asset Management purchased a new position in Baxter International in the first quarter worth approximately $121,000. 83.08% of the stock is owned by hedge funds and other institutional investors.
Several research analysts recently weighed in on BAX shares. Zacks Investment Research lowered Baxter International from a “buy” rating to a “hold” rating in a research report on Tuesday, July 24th. Morgan Stanley increased their price objective on Baxter International from $68.00 to $75.00 and gave the stock an “underweight” rating in a research report on Thursday. Royal Bank of Canada reiterated a “hold” rating and issued a $76.00 price objective on shares of Baxter International in a research report on Friday, July 27th. Argus reiterated a “hold” rating on shares of Baxter International in a research report on Tuesday, September 4th. Finally, JPMorgan Chase & Co. increased their price objective on Baxter International from $80.00 to $85.00 and gave the stock an “overweight” rating in a research report on Friday, July 27th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the company. Baxter International has an average rating of “Buy” and a consensus price target of $77.36.
Shares of BAX traded up $1.08 during midday trading on Friday, hitting $71.25. 2,338,255 shares of the stock were exchanged, compared to its average volume of 3,018,971. Baxter International Inc has a 52-week low of $62.29 and a 52-week high of $78.38. The firm has a market cap of $41.19 billion, a P/E ratio of 28.73, a P/E/G ratio of 2.08 and a beta of 0.77. The company has a quick ratio of 2.00, a current ratio of 2.62 and a debt-to-equity ratio of 0.39.
Baxter International (NYSE:BAX) last released its quarterly earnings results on Thursday, July 26th. The medical instruments supplier reported $0.77 EPS for the quarter, topping the consensus estimate of $0.71 by $0.06. Baxter International had a return on equity of 16.63% and a net margin of 8.29%. The business had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.83 billion. During the same period last year, the business posted $0.63 earnings per share. The company’s quarterly revenue was up 9.1% on a year-over-year basis. Sell-side analysts expect that Baxter International Inc will post 2.98 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, October 1st. Stockholders of record on Friday, August 31st were given a dividend of $0.19 per share. The ex-dividend date was Thursday, August 30th. This represents a $0.76 annualized dividend and a dividend yield of 1.07%. Baxter International’s dividend payout ratio is currently 30.65%.
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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