Empire Life Investments Inc. cut its stake in Baxter International Inc (NYSE:BAX) by 28.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 154,708 shares of the medical instruments supplier’s stock after selling 61,209 shares during the quarter. Empire Life Investments Inc.’s holdings in Baxter International were worth $10,000,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Meag Munich Ergo Kapitalanlagegesellschaft MBH increased its stake in shares of Baxter International by 123.3% in the 3rd quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 154,932 shares of the medical instruments supplier’s stock worth $9,688,000 after acquiring an additional 85,537 shares in the last quarter. Toronto Dominion Bank increased its stake in shares of Baxter International by 8.6% in the 3rd quarter. Toronto Dominion Bank now owns 212,015 shares of the medical instruments supplier’s stock worth $13,304,000 after acquiring an additional 16,835 shares in the last quarter. Rhumbline Advisers grew its position in Baxter International by 2.4% during the 3rd quarter. Rhumbline Advisers now owns 857,347 shares of the medical instruments supplier’s stock valued at $53,799,000 after purchasing an additional 20,033 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Baxter International by 0.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 4,978,139 shares of the medical instruments supplier’s stock valued at $312,378,000 after acquiring an additional 16,523 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new stake in shares of Baxter International during the 3rd quarter valued at about $1,764,000. Institutional investors and hedge funds own 85.56% of the company’s stock.
In related news, SVP Giuseppe Accogli sold 28,641 shares of the stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $67.00, for a total value of $1,918,947.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Carole J. Shapazian sold 4,990 shares of the stock in a transaction on Friday, March 2nd. The shares were sold at an average price of $66.05, for a total value of $329,589.50. The disclosure for this sale can be found here. Company insiders own 0.05% of the company’s stock.
Shares of Baxter International Inc (BAX) opened at $68.89 on Monday. The company has a quick ratio of 2.05, a current ratio of 2.57 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $37,210.16, a PE ratio of 27.67, a P/E/G ratio of 1.99 and a beta of 0.82. Baxter International Inc has a fifty-two week low of $51.03 and a fifty-two week high of $72.58.
Baxter International (NYSE:BAX) last posted its quarterly earnings data on Thursday, February 1st. The medical instruments supplier reported $0.64 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.05. Baxter International had a net margin of 6.79% and a return on equity of 15.11%. The firm had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.77 billion. During the same quarter in the prior year, the company posted $0.57 earnings per share. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. research analysts anticipate that Baxter International Inc will post 2.78 EPS for the current fiscal year.
Baxter International announced that its Board of Directors has initiated a share repurchase program on Tuesday, February 20th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the medical instruments supplier to repurchase shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Friday, March 2nd will be given a $0.16 dividend. The ex-dividend date is Thursday, March 1st. This represents a $0.64 annualized dividend and a yield of 0.93%. Baxter International’s dividend payout ratio is presently 49.61%.
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Baxter International 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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