Great Lakes Advisors LLC Takes $761,000 Position in Baxter International Inc (BAX)
Great Lakes Advisors LLC bought a new position in shares of Baxter International Inc (NYSE:BAX) in the 1st quarter, HoldingsChannel reports. The fund bought 9,356 shares of the medical instruments supplier’s stock, valued at approximately $761,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. C J Advisory Inc acquired a new stake in shares of Baxter International during the first quarter worth about $28,000. Gantzert Investment Co. LLC ADV acquired a new stake in shares of Baxter International during the fourth quarter worth about $25,000. Parisi Gray Wealth Management acquired a new stake in shares of Baxter International during the fourth quarter worth about $26,000. Sontag Advisory LLC acquired a new stake in shares of Baxter International during the fourth quarter worth about $30,000. Finally, Baldwin Brothers Inc. MA boosted its stake in shares of Baxter International by 904.0% during the fourth quarter. Baldwin Brothers Inc. MA now owns 502 shares of the medical instruments supplier’s stock worth $33,000 after buying an additional 452 shares during the period. Institutional investors and hedge funds own 84.39% of the company’s stock.
In other Baxter International news, insider Third Point Llc sold 5,000,000 shares of the stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $76.37, for a total value of $381,850,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Thomas T. Stallkamp sold 1,000 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $75.16, for a total transaction of $75,160.00. Following the completion of the transaction, the director now directly owns 6,780 shares of the company’s stock, valued at $509,584.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,057,187 shares of company stock valued at $386,297,619. 0.70% of the stock is currently owned by corporate insiders.
Baxter International (NYSE:BAX) last issued its earnings results on Thursday, April 25th. The medical instruments supplier reported $0.76 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.08. Baxter International had a net margin of 14.27% and a return on equity of 20.04%. The company had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.61 billion. During the same period last year, the company posted $0.70 earnings per share. The firm’s quarterly revenue was down 1.7% compared to the same quarter last year. As a group, sell-side analysts predict that Baxter International Inc will post 3.32 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 7th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Thursday, June 6th. This is a boost from Baxter International’s previous quarterly dividend of $0.19. This represents a $0.88 dividend on an annualized basis and a yield of 1.17%. Baxter International’s dividend payout ratio (DPR) is 24.92%.
Several equities research analysts have recently weighed in on BAX shares. Barclays increased their target price on shares of Baxter International from $72.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Monday, April 15th. Piper Jaffray Companies reissued an “overweight” rating and set a $80.00 price target on shares of Baxter International in a report on Friday, February 1st. Zacks Investment Research cut shares of Baxter International from a “buy” rating to a “hold” rating in a report on Thursday, May 9th. Morgan Stanley increased their price target on shares of Baxter International from $80.00 to $83.00 and gave the stock an “overweight” rating in a report on Tuesday, March 5th. Finally, Cowen set a $75.00 price target on shares of Baxter International and gave the stock a “hold” rating in a report on Monday, April 22nd. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $78.33.
COPYRIGHT VIOLATION WARNING: “Great Lakes Advisors LLC Takes $761,000 Position in Baxter International Inc (BAX)” was published by TheOlympiaReport and is the sole property of of TheOlympiaReport. If you are viewing this news story on another site, it was stolen and reposted in violation of United States & international trademark & copyright legislation. The original version of this news story can be read at https://theolympiareport.com/2019/05/24/great-lakes-advisors-llc-takes-761000-position-in-baxter-international-inc-bax.html.
Baxter International Profile
Baxter International Inc, through its subsidiaries, develops and provides a portfolio of healthcare products. The company operates through North and South America; Europe, Middle East and Africa; and Asia-Pacific segments. The company offers peritoneal dialysis and hemodialysis, and additional dialysis therapies and services; renal replacement therapies and other organ support therapies focused in the intensive care unit; sterile intravenous (IV) solutions, IV therapies, infusion pumps, administration sets, and drug reconstitution devices; and parenteral nutrition therapies.
Read More: The primary rules of Elliott Wave theory
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 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Baxter International and related companies with MarketBeat.com's FREE daily email newsletter.