The Manufacturers Life Insurance Company lowered its holdings in shares of Baxter International Inc (NYSE:BAX) by 18.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 845,610 shares of the medical instruments supplier’s stock after selling 191,803 shares during the period. The Manufacturers Life Insurance Company’s holdings in Baxter International were worth $68,655,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Orser Capital Management LLC grew its holdings in shares of Baxter International by 4.3% during the fourth quarter. Orser Capital Management LLC now owns 33,260 shares of the medical instruments supplier’s stock worth $2,775,000 after buying an additional 1,370 shares in the last quarter. Quadrant Capital Group LLC grew its holdings in shares of Baxter International by 13.4% during the fourth quarter. Quadrant Capital Group LLC now owns 2,812 shares of the medical instruments supplier’s stock worth $216,000 after buying an additional 332 shares in the last quarter. Natixis Advisors L.P. grew its holdings in shares of Baxter International by 14.9% during the fourth quarter. Natixis Advisors L.P. now owns 58,353 shares of the medical instruments supplier’s stock worth $4,879,000 after buying an additional 7,582 shares in the last quarter. Banque Cantonale Vaudoise purchased a new stake in shares of Baxter International during the fourth quarter worth about $1,187,000. Finally, Rafferty Asset Management LLC purchased a new stake in shares of Baxter International during the fourth quarter worth about $1,149,000. Hedge funds and other institutional investors own 83.72% of the company’s stock.

Shares of NYSE BAX traded down $0.03 during trading on Friday, reaching $85.30. 13,630 shares of the stock were exchanged, compared to its average volume of 3,166,394. The business’s 50-day moving average price is $86.80 and its 200 day moving average price is $86.46. Baxter International Inc has a twelve month low of $69.10 and a twelve month high of $95.19. The company has a quick ratio of 2.19, a current ratio of 2.74 and a debt-to-equity ratio of 0.84. The company has a market capitalization of $43.29 billion, a price-to-earnings ratio of 25.78, a price-to-earnings-growth ratio of 2.28 and a beta of 0.83.

Baxter International (NYSE:BAX) last posted its earnings results on Thursday, April 30th. The medical instruments supplier reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.09. Baxter International had a net margin of 8.85% and a return on equity of 22.70%. The business had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.74 billion. During the same period in the previous year, the company posted $0.76 earnings per share. The business’s revenue for the quarter was up 6.2% compared to the same quarter last year. As a group, sell-side analysts expect that Baxter International Inc will post 3.29 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Friday, June 5th will be paid a $0.245 dividend. This represents a $0.98 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date is Thursday, June 4th. This is a positive change from Baxter International’s previous quarterly dividend of $0.22. Baxter International’s payout ratio is 29.61%.

In related news, Director Albert P. L. Stroucken sold 4,320 shares of Baxter International stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $79.64, for a total value of $344,044.80. Following the completion of the sale, the director now owns 34,018 shares in the company, valued at $2,709,193.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Sean Martin bought 9,780 shares of the stock in a transaction on Monday, March 30th. The shares were acquired at an average price of $82.19 per share, with a total value of $803,818.20. Following the purchase, the senior vice president now owns 39,504 shares of the company’s stock, valued at $3,246,833.76. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 129,049 shares of company stock valued at $11,348,684. Insiders own 0.13% of the company’s stock.

BAX has been the subject of a number of recent research reports. Raymond James lifted their price target on shares of Baxter International from $90.00 to $97.00 and gave the stock an “outperform” rating in a report on Monday, April 13th. Deutsche Bank lowered their target price on shares of Baxter International from $109.00 to $99.00 and set a “buy” rating for the company in a report on Wednesday, March 18th. Wells Fargo & Co boosted their target price on shares of Baxter International from $92.00 to $104.00 and gave the company an “overweight” rating in a report on Monday, April 20th. Piper Sandler boosted their target price on shares of Baxter International from $90.00 to $100.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Finally, SVB Leerink boosted their target price on shares of Baxter International from $96.00 to $105.00 and gave the company an “outperform” rating in a report on Friday, May 1st. Six equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $96.60.

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.

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

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