LMR Partners LLP cut its stake in shares of Baxter International Inc. (NYSE:BAX) by 95.4% during the second quarter, Holdings Channel reports. The institutional investor owned 22,649 shares of the company’s stock after selling 472,766 shares during the period. LMR Partners LLP’s holdings in Baxter International were worth $1,025,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of BAX. Smith Asset Management Group LP bought a new position in Baxter International during the second quarter worth approximately $32,281,000. Trust Co. of Toledo NA OH boosted its position in Baxter International by 5.5% in the second quarter. Trust Co. of Toledo NA OH now owns 40,696 shares of the company’s stock worth $1,840,000 after buying an additional 2,107 shares during the last quarter. Riverhead Capital Management LLC boosted its position in Baxter International by 2.1% in the first quarter. Riverhead Capital Management LLC now owns 235,633 shares of the company’s stock worth $9,681,000 after buying an additional 4,856 shares during the last quarter. Zurich Insurance Group Ltd FI bought a new position in Baxter International during the first quarter worth approximately $4,393,000. Finally, Simmons Bank bought a new position in Baxter International during the first quarter worth approximately $338,000. Hedge funds and other institutional investors own 84.79% of the company’s stock.
Shares of Baxter International Inc. (NYSE:BAX) traded up 0.48% during trading on Friday, hitting $48.45. 3,583,251 shares of the company traded hands. The company has a 50-day moving average of $47.07 and a 200-day moving average of $45.36. Baxter International Inc. has a 52-week low of $32.92 and a 52-week high of $49.49. The stock has a market capitalization of $26.35 billion, a PE ratio of 5.56 and a beta of 0.71.
Baxter International (NYSE:BAX) last issued its quarterly earnings results on Tuesday, July 26th. The company reported $0.46 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.06. The company had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.51 billion. Baxter International had a net margin of 47.74% and a return on equity of 10.70%. The business’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.00 earnings per share. Equities analysts expect that Baxter International Inc. will post $1.73 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Friday, September 2nd were paid a dividend of $0.13 per share. The ex-dividend date was Wednesday, August 31st. This represents a $0.52 dividend on an annualized basis and a yield of 1.07%. Baxter International’s dividend payout ratio (DPR) is presently 5.99%.
BAX has been the topic of a number of research analyst reports. Zacks Investment Research cut shares of Baxter International from a “buy” rating to a “hold” rating in a report on Thursday. Barclays PLC initiated coverage on shares of Baxter International in a report on Thursday, September 15th. They issued an “overweight” rating and a $52.00 price target on the stock. Piper Jaffray Cos. restated an “overweight” rating and issued a $60.00 price target on shares of Baxter International in a report on Monday, June 13th. JPMorgan Chase & Co. restated a “hold” rating and issued a $45.00 price target on shares of Baxter International in a report on Friday, July 8th. Finally, Goldman Sachs Group Inc. restated a “buy” rating on shares of Baxter International in a report on Wednesday, July 6th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company. Baxter International has a consensus rating of “Hold” and an average price target of $48.25.
About Baxter International
Baxter International Inc, through its subsidiaries, provides a portfolio of essential renal and hospital products, including home, acute and in-center dialysis; sterile intravenous (IV) solutions; infusion systems and devices; parenteral nutrition; biosurgery products and anesthetics, and pharmacy automation, software and services.
Want to see what other hedge funds are holding BAX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Baxter International Inc. (NYSE:BAX).
Receive News & Ratings for Baxter International Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Baxter International Inc. and related companies with MarketBeat.com's FREE daily email newsletter.