Aureus Asset Management LLC Acquires Shares of 9,050 Baxter International Inc. (BAX)
Aureus Asset Management LLC acquired a new position in shares of Baxter International Inc. (NYSE:BAX) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 9,050 shares of the medical instruments supplier’s stock, valued at approximately $568,000.
Other institutional investors have also recently added to or reduced their stakes in the company. Baker Ellis Asset Management LLC bought a new position in Baxter International during the 2nd quarter worth approximately $109,000. Grove Bank & Trust boosted its stake in Baxter International by 526.0% during the 3rd quarter. Grove Bank & Trust now owns 2,285 shares of the medical instruments supplier’s stock worth $143,000 after acquiring an additional 1,920 shares during the last quarter. Acrospire Investment Management LLC boosted its stake in Baxter International by 71.3% during the 2nd quarter. Acrospire Investment Management LLC now owns 2,402 shares of the medical instruments supplier’s stock worth $145,000 after acquiring an additional 1,000 shares during the last quarter. Harvest Fund Management Co. Ltd boosted its stake in Baxter International by 8.4% during the 2nd quarter. Harvest Fund Management Co. Ltd now owns 2,928 shares of the medical instruments supplier’s stock worth $177,000 after acquiring an additional 226 shares during the last quarter. Finally, Captrust Financial Advisors bought a new position in Baxter International during the 2nd quarter worth approximately $188,000. 83.59% of the stock is currently owned by institutional investors and hedge funds.
Baxter International Inc. (NYSE BAX) opened at $64.25 on Tuesday. The company has a quick ratio of 2.22, a current ratio of 2.80 and a debt-to-equity ratio of 0.37. Baxter International Inc. has a one year low of $43.13 and a one year high of $66.18. The firm has a market cap of $35,681.04, a P/E ratio of 27.06, a price-to-earnings-growth ratio of 2.19 and a beta of 0.69.
Baxter International (NYSE:BAX) last announced its quarterly earnings results on Wednesday, October 25th. The medical instruments supplier reported $0.64 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.05. Baxter International had a net margin of 9.88% and a return on equity of 15.00%. The firm had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.66 billion. During the same quarter in the previous year, the firm posted $0.56 earnings per share. The business’s revenue was up 5.8% on a year-over-year basis. equities research analysts expect that Baxter International Inc. will post 2.43 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 1st will be issued a $0.16 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.00%. Baxter International’s dividend payout ratio (DPR) is presently 34.41%.
In other news, Director Third Point Llc sold 5,000,000 shares of Baxter International stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $64.23, for a total value of $321,150,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.05% of the stock is owned by company insiders.
Several research firms recently weighed in on BAX. Bank of America reissued a “hold” rating on shares of Baxter International in a research note on Wednesday, November 22nd. Royal Bank Of Canada reissued a “hold” rating and set a $66.00 price objective on shares of Baxter International in a research note on Wednesday, November 22nd. Stifel Nicolaus reaffirmed a “hold” rating and issued a $65.00 price target on shares of Baxter International in a research note on Thursday, October 26th. Barclays lifted their price target on shares of Baxter International from $70.00 to $73.00 and gave the company an “overweight” rating in a research note on Thursday, October 26th. Finally, Morgan Stanley lifted their price target on shares of Baxter International from $59.00 to $62.00 and gave the company an “equal weight” rating in a research note on Thursday, October 26th. Seven research analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $67.46.
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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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