Rhumbline Advisers raised its stake in Baxter International Inc. (NYSE:BAX) by 1.5% during the second quarter, Holdings Channel reports. The institutional investor owned 837,314 shares of the medical instruments supplier’s stock after buying an additional 12,633 shares during the period. Rhumbline Advisers’ holdings in Baxter International were worth $50,691,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Quadrant Capital Group LLC boosted its stake in shares of Baxter International by 1.3% in the first quarter. Quadrant Capital Group LLC now owns 2,344 shares of the medical instruments supplier’s stock valued at $113,000 after buying an additional 31 shares in the last quarter. Dumont & Blake Investment Advisors LLC boosted its stake in shares of Baxter International by 0.3% in the first quarter. Dumont & Blake Investment Advisors LLC now owns 12,786 shares of the medical instruments supplier’s stock valued at $663,000 after buying an additional 40 shares in the last quarter. Livingston Group Asset Management CO operating as Southport Capital Management boosted its stake in shares of Baxter International by 0.3% in the first quarter. Livingston Group Asset Management CO operating as Southport Capital Management now owns 18,079 shares of the medical instruments supplier’s stock worth $938,000 after buying an additional 54 shares during the period. Reliance Trust Co. of Delaware boosted its stake in shares of Baxter International by 1.1% in the first quarter. Reliance Trust Co. of Delaware now owns 5,743 shares of the medical instruments supplier’s stock worth $298,000 after buying an additional 63 shares during the period. Finally, Clifford Swan Investment Counsel LLC boosted its stake in shares of Baxter International by 0.4% in the first quarter. Clifford Swan Investment Counsel LLC now owns 15,204 shares of the medical instruments supplier’s stock worth $788,000 after buying an additional 67 shares during the period. 85.08% of the stock is currently owned by institutional investors.

Baxter International Inc. (NYSE:BAX) opened at 59.84 on Friday. Baxter International Inc. has a one year low of $43.13 and a one year high of $63.14. The firm has a market cap of $32.61 billion, a price-to-earnings ratio of 36.31 and a beta of 0.66. The stock’s 50 day moving average is $60.89 and its 200 day moving average is $55.35.

Baxter International (NYSE:BAX) last announced its earnings results on Wednesday, July 26th. The medical instruments supplier reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.06. The firm had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.59 billion. Baxter International had a net margin of 8.85% and a return on equity of 14.82%. The company’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.46 EPS. On average, analysts predict that Baxter International Inc. will post $2.39 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 1st will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date of this dividend is Wednesday, August 30th. Baxter International’s payout ratio is 38.79%.

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A number of brokerages have commented on BAX. Leerink Swann reaffirmed an “outperform” rating and set a $75.00 price target (up previously from $67.00) on shares of Baxter International in a research report on Thursday, July 27th. Cowen and Company reaffirmed a “market perform” rating and set a $68.00 price target (up previously from $66.00) on shares of Baxter International in a research report on Thursday, July 27th. Cantor Fitzgerald set a $70.00 price target on shares of Baxter International and gave the company a “buy” rating in a research report on Wednesday, July 26th. UBS AG upped their price target on shares of Baxter International from $57.00 to $62.00 and gave the company a “neutral” rating in a research report on Friday, July 28th. Finally, Zacks Investment Research cut shares of Baxter International from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $65.33.

In other news, Director Carole J. Shapazian sold 2,618 shares of Baxter International stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $57.92, for a total transaction of $151,634.56. Following the sale, the director now owns 9,848 shares of the company’s stock, valued at approximately $570,396.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.05% of the company’s stock.

Baxter International Company 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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Institutional Ownership by Quarter for Baxter International (NYSE:BAX)

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