HealthCor Management L.P. acquired a new position in shares of Baxter International Inc (NYSE:BAX) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,725,000 shares of the medical instruments supplier’s stock, valued at approximately $111,504,000. Baxter International makes up approximately 3.6% of HealthCor Management L.P.’s investment portfolio, making the stock its 12th biggest holding. HealthCor Management L.P. owned approximately 0.32% of Baxter International at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in BAX. Two Sigma Advisers LP increased its position in Baxter International by 6.8% in the 4th quarter. Two Sigma Advisers LP now owns 3,695,958 shares of the medical instruments supplier’s stock valued at $238,907,000 after acquiring an additional 236,000 shares during the period. Premia Global Advisors LLC acquired a new position in Baxter International in the 4th quarter valued at approximately $242,000. Robecosam AG acquired a new position in Baxter International in the 4th quarter valued at approximately $103,000. Stone Ridge Asset Management LLC acquired a new position in Baxter International in the 4th quarter valued at approximately $543,000. Finally, Guggenheim Capital LLC increased its position in Baxter International by 3.9% in the 4th quarter. Guggenheim Capital LLC now owns 781,380 shares of the medical instruments supplier’s stock valued at $50,509,000 after acquiring an additional 29,668 shares during the period. Institutional investors and hedge funds own 85.56% of the company’s stock.
Several equities analysts have issued reports on BAX shares. Royal Bank of Canada restated a “hold” rating and issued a $66.00 price target on shares of Baxter International in a research report on Wednesday, November 22nd. Bank of America restated a “hold” rating on shares of Baxter International in a research report on Wednesday, November 22nd. Zacks Investment Research cut shares of Baxter International from a “buy” rating to a “hold” rating in a research report on Tuesday, December 26th. JPMorgan Chase & Co. upgraded shares of Baxter International from a “neutral” rating to an “overweight” rating in a research report on Tuesday, January 2nd. Finally, Evercore ISI started coverage on shares of Baxter International in a research report on Wednesday, January 3rd. They issued an “outperform” rating and a $71.00 price target for the company. Eight investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $71.00.
Shares of Baxter International Inc (NYSE:BAX) opened at $68.89 on Monday. The firm has a market cap of $37,210.16, a price-to-earnings ratio of 27.67, a PEG ratio of 1.99 and a beta of 0.82. Baxter International Inc has a 12-month low of $51.03 and a 12-month high of $72.58. The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.05 and a current ratio of 2.57.
Baxter International (NYSE:BAX) last issued its earnings results on Thursday, February 1st. The medical instruments supplier reported $0.64 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.05. The business had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.77 billion. Baxter International had a net margin of 6.79% and a return on equity of 15.11%. Baxter International’s revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.57 earnings per share. research analysts anticipate that Baxter International Inc will post 2.78 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 2nd. Investors of record on Friday, March 2nd will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 0.93%. The ex-dividend date of this dividend is Thursday, March 1st. Baxter International’s dividend payout ratio is presently 49.61%.
Baxter International declared that its Board of Directors has initiated a stock buyback program on Tuesday, February 20th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the medical instruments supplier to purchase shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.
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About Baxter International
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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