Trustmark National Bank Trust Department grew its holdings in shares of Baxter International Inc. (NYSE:BAX) by 26.2% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,637 shares of the medical instruments supplier’s stock after purchasing an additional 2,417 shares during the quarter. Trustmark National Bank Trust Department’s holdings in Baxter International were worth $705,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of the business. Capital Fund Management S.A. boosted its position in shares of Baxter International by 181.5% in the first quarter. Capital Fund Management S.A. now owns 523,282 shares of the medical instruments supplier’s stock valued at $27,137,000 after acquiring an additional 337,369 shares during the period. TIAA CREF Trust Co. FSB MO raised its stake in Baxter International by 4.7% in the first quarter. TIAA CREF Trust Co. FSB MO now owns 17,629 shares of the medical instruments supplier’s stock valued at $914,000 after purchasing an additional 793 shares in the last quarter. Henderson Group PLC raised its stake in Baxter International by 1.4% in the first quarter. Henderson Group PLC now owns 66,525 shares of the medical instruments supplier’s stock valued at $3,450,000 after purchasing an additional 900 shares in the last quarter. HPM Partners LLC purchased a new stake in Baxter International in the first quarter valued at approximately $1,053,000. Finally, Pekin Singer Strauss Asset Management IL raised its stake in Baxter International by 7.3% in the first quarter. Pekin Singer Strauss Asset Management IL now owns 7,125 shares of the medical instruments supplier’s stock valued at $370,000 after purchasing an additional 482 shares in the last quarter. Hedge funds and other institutional investors own 83.62% of the company’s stock.
In related news, Director Carole J. Shapazian sold 4,020 shares of the business’s stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $61.61, for a total value of $247,672.20. Following the sale, the director now owns 13,868 shares in the company, valued at approximately $854,407.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Giuseppe Accogli sold 12,670 shares of the business’s stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $60.96, for a total value of $772,363.20. Following the completion of the sale, the senior vice president now owns 33,286 shares in the company, 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 worth $2,158,587. Corporate insiders own 0.05% of the company’s stock.
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Several research analysts have commented on BAX shares. Stifel Nicolaus lifted their price target on shares of Baxter International from $58.00 to $61.00 and gave the stock a “hold” rating in a research note on Wednesday, May 31st. Barclays PLC lifted their target price on shares of Baxter International from $62.00 to $64.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 14th. Cantor Fitzgerald began coverage on shares of Baxter International in a report on Thursday, June 29th. They issued an “overweight” rating and a $70.00 price target on the stock. Cowen and Company reiterated a “market perform” rating and issued a $66.00 price target (up previously from $57.00) on shares of Baxter International in a report on Monday, July 10th. Finally, BMO Capital Markets upgraded shares of Baxter International from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $55.00 to $70.00 in a report on Tuesday, July 11th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $65.31.
Shares of Baxter International Inc. (NYSE:BAX) traded up 0.39% during trading on Wednesday, hitting $64.27. The stock had a trading volume of 203,331 shares. Baxter International Inc. has a 12 month low of $43.13 and a 12 month high of $64.75. The company’s 50 day moving average price is $61.71 and its 200 day moving average price is $57.98. The stock has a market cap of $35.02 billion, a price-to-earnings ratio of 39.00 and a beta of 0.66.
Baxter International (NYSE:BAX) last announced its quarterly earnings results on Wednesday, July 26th. The medical instruments supplier reported $0.63 EPS for the quarter, beating 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 for the quarter, compared to analyst estimates of $2.59 billion. During the same quarter in the prior year, the company posted $0.46 EPS. The company’s quarterly revenue was up .8% on a year-over-year basis. Equities research analysts expect that Baxter International Inc. will post $2.39 earnings per share for the current fiscal year.
The firm 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 $0.16 dividend. 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%.
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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