Markston International LLC cut its stake in shares of Baxter International Inc. (NYSE:BAX) by 2.6% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 58,552 shares of the company’s stock after selling 1,543 shares during the period. Markston International LLC’s holdings in Baxter International were worth $2,648,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Jensen Investment Management Inc. bought a new stake in Baxter International during the second quarter valued at about $409,000. Smith Asset Management Group LP bought a new stake in Baxter International during the second quarter valued at about $32,281,000. HL Financial Services LLC boosted its stake in Baxter International by 224.4% in the second quarter. HL Financial Services LLC now owns 31,705 shares of the company’s stock valued at $1,434,000 after buying an additional 21,933 shares in the last quarter. Trust Co. of Toledo NA OH boosted its stake 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 valued at $1,840,000 after buying an additional 2,107 shares in the last quarter. Finally, Meeder Asset Management Inc. boosted its stake in Baxter International by 28.0% in the second quarter. Meeder Asset Management Inc. now owns 35,832 shares of the company’s stock valued at $1,620,000 after buying an additional 7,836 shares in the last quarter. 84.79% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Baxter International Inc. (NYSE:BAX) traded down 2.09% during trading on Thursday, reaching $46.92. 3,310,875 shares of the company were exchanged. Baxter International Inc. has a 52-week low of $32.18 and a 52-week high of $49.49. The stock has a 50-day moving average of $47.21 and a 200 day moving average of $45.01. The stock has a market capitalization of $25.52 billion, a P/E ratio of 5.39 and a beta of 0.64.
Baxter International (NYSE:BAX) last issued its earnings results on Tuesday, July 26th. The company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.40 by $0.06. The firm earned $2.60 billion during the quarter, compared to analysts’ expectations of $2.51 billion. Baxter International had a return on equity of 10.70% and a net margin of 47.74%. Baxter International’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same period last year, the business earned $1.00 earnings per share. On average, equities analysts anticipate that Baxter International Inc. will post $1.73 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Friday, September 2nd will be given a $0.13 dividend. The ex-dividend date of this dividend is Wednesday, August 31st. This represents a $0.52 annualized dividend and a yield of 1.11%. Baxter International’s dividend payout ratio (DPR) is currently 5.99%.
A number of analysts have weighed in on BAX shares. Barclays PLC started coverage on shares of Baxter International in a report on Thursday, September 15th. They set an “overweight” rating and a $52.00 target price on the stock. Argus reissued a “hold” rating on shares of Baxter International in a report on Monday, August 15th. JPMorgan Chase & Co. increased their target price on shares of Baxter International from $45.00 to $48.00 and gave the stock a “neutral” rating in a report on Wednesday, July 27th. Zacks Investment Research raised shares of Baxter International from a “sell” rating to a “hold” rating and set a $54.00 target price on the stock in a report on Wednesday, July 27th. Finally, RBC Capital Markets reissued a “hold” rating and set a $50.00 target price (up from $47.00) on shares of Baxter International in a report on Wednesday, July 27th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $48.25.
Baxter International Company Profile
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.