MML Investors Services LLC grew its stake in Baxter International Inc (NYSE:BAX) by 13.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,630 shares of the medical instruments supplier’s stock after buying an additional 1,934 shares during the period. MML Investors Services LLC’s holdings in Baxter International were worth $1,075,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of BAX. Family Capital Trust Co acquired a new position in shares of Baxter International in the 4th quarter valued at $103,000. Community Bank N.A. boosted its holdings in shares of Baxter International by 152.7% in the 4th quarter. Community Bank N.A. now owns 1,655 shares of the medical instruments supplier’s stock valued at $107,000 after buying an additional 1,000 shares in the last quarter. Trustcore Financial Services LLC acquired a new position in shares of Baxter International in the 4th quarter valued at $131,000. Grove Bank & Trust boosted its holdings in shares of Baxter International by 526.0% in the 3rd quarter. Grove Bank & Trust now owns 2,285 shares of the medical instruments supplier’s stock valued at $143,000 after buying an additional 1,920 shares in the last quarter. Finally, Cerebellum GP LLC acquired a new position in shares of Baxter International in the 4th quarter valued at $173,000. Institutional investors and hedge funds own 85.56% of the company’s stock.
Shares of Baxter International Inc (NYSE:BAX) opened at $68.09 on Wednesday. Baxter International Inc has a 52 week low of $51.03 and a 52 week high of $72.58. The company has a market cap of $36,999.51, a price-to-earnings ratio of 52.78, a PEG ratio of 1.97 and a beta of 0.82. 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 business also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Friday, March 2nd will be issued a $0.16 dividend. The ex-dividend date of this dividend is Thursday, March 1st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.94%. Baxter International’s dividend payout ratio is presently 49.61%.
Baxter International declared that its Board of Directors has initiated a share buyback plan on Tuesday, February 20th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the medical instruments supplier to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.
A number of analysts recently weighed in on the stock. Evercore ISI assumed coverage on shares of Baxter International in a research note on Wednesday, January 3rd. They set an “outperform” rating and a $71.00 price target for the company. Bank of America upgraded shares of Baxter International from a “neutral” rating to a “buy” rating in a research note on Tuesday, January 2nd. Raymond James Financial upgraded shares of Baxter International from a “market perform” rating to an “outperform” rating and set a $73.00 price target for the company in a research note on Wednesday, January 3rd. Zacks Investment Research cut shares of Baxter International from a “buy” rating to a “hold” rating in a research note on Tuesday, December 26th. Finally, JPMorgan Chase & Co. upgraded shares of Baxter International from a “neutral” rating to an “overweight” rating in a research note on Tuesday, January 2nd. Eight investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $71.00.
In other news, Director Carole J. Shapazian sold 4,990 shares of the stock in a transaction dated Friday, March 2nd. The shares were sold at an average price of $66.05, for a total value of $329,589.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Giuseppe Accogli sold 28,641 shares of the stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $67.00, for a total transaction of $1,918,947.00. The disclosure for this sale can be found here. Company insiders own 0.05% of the company’s stock.
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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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