Caisse DE Depot ET Placement DU Quebec Boosts Position in Baxter International Inc. (BAX)
Caisse DE Depot ET Placement DU Quebec increased its position in shares of Baxter International Inc. (NYSE:BAX) by 2.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 223,169 shares of the medical instruments supplier’s stock after buying an additional 4,500 shares during the quarter. Caisse DE Depot ET Placement DU Quebec’s holdings in Baxter International were worth $14,063,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. Aureus Asset Management LLC purchased a new stake in shares of Baxter International during the third quarter worth $568,000. Hartford Investment Management Co. lifted its position in shares of Baxter International by 1.3% during the third quarter. Hartford Investment Management Co. now owns 112,003 shares of the medical instruments supplier’s stock worth $7,028,000 after acquiring an additional 1,460 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of Baxter International by 1.1% during the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,108,138 shares of the medical instruments supplier’s stock worth $69,536,000 after acquiring an additional 12,431 shares in the last quarter. Commonwealth Bank of Australia lifted its position in shares of Baxter International by 2.8% during the third quarter. Commonwealth Bank of Australia now owns 79,823 shares of the medical instruments supplier’s stock worth $5,003,000 after acquiring an additional 2,186 shares in the last quarter. Finally, Grove Bank & Trust lifted its position in shares of Baxter International by 526.0% during the third 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 in the last quarter. 83.59% of the stock is owned by hedge funds and other institutional investors.
Baxter International Inc. (NYSE BAX) traded down $0.30 during midday trading on Thursday, reaching $63.72. The company’s stock had a trading volume of 2,387,000 shares, compared to its average volume of 2,697,451. Baxter International Inc. has a twelve month low of $43.13 and a twelve month high of $66.18. The company has a quick ratio of 2.22, a current ratio of 2.80 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $34,880.13, a P/E ratio of 26.45, a price-to-earnings-growth ratio of 2.14 and a beta of 0.69.
Baxter International (NYSE:BAX) last released 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 return on equity of 15.00% and a net margin of 9.88%. The business had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.66 billion. During the same quarter last year, the business posted $0.56 earnings per share. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. analysts expect that Baxter International Inc. will post 2.43 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 1st will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.64 dividend on an annualized basis and a yield of 1.00%. Baxter International’s payout ratio is 34.41%.
A number of equities research analysts recently issued reports on BAX shares. Zacks Investment Research upgraded Baxter International from a “hold” rating to a “buy” rating and set a $72.00 price objective on the stock in a research report on Tuesday, October 24th. Royal Bank Of Canada reiterated a “hold” rating and issued a $60.00 price objective on shares of Baxter International in a research report on Friday, September 1st. Cowen reiterated a “neutral” rating on shares of Baxter International in a research report on Friday, October 13th. BMO Capital Markets reiterated a “buy” rating and issued a $70.00 price objective on shares of Baxter International in a research report on Friday, October 13th. Finally, Morgan Stanley increased their price objective on Baxter International from $59.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 26th. Seven investment analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $67.46.
In other news, SVP Jeanne K. Mason sold 33,350 shares of the firm’s stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $65.25, for a total transaction of $2,176,087.50. Following the transaction, the senior vice president now directly owns 124,609 shares of the company’s stock, valued at $8,130,737.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Third Point Llc sold 5,000,000 shares of the firm’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $64.23, for a total value of $321,150,000.00. The disclosure for this sale can be found here. 0.05% of the stock is currently owned by company insiders.
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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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