Teachers Advisors LLC decreased its position in Baxter International Inc (NYSE:BAX) by 1.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,527,226 shares of the medical instruments supplier’s stock after selling 17,027 shares during the quarter. Teachers Advisors LLC owned about 0.28% of Baxter International worth $98,720,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently made changes to their positions in the company. Robecosam AG purchased a new stake in Baxter International in the 4th quarter valued at about $103,000. Family Capital Trust Co purchased a new stake in Baxter International in the 4th quarter valued at about $103,000. Community Bank N.A. grew its holdings in 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 during the period. Trustcore Financial Services LLC purchased a new stake in Baxter International in the 4th quarter valued at about $131,000. Finally, Grove Bank & Trust grew its holdings in 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 during the period. 85.56% of the stock is owned by hedge funds and other institutional investors.
Several research firms have commented on BAX. ValuEngine cut Baxter International from a “buy” rating to a “hold” rating in a report on Wednesday, March 7th. Barclays lifted their price target on Baxter International from $73.00 to $77.00 and gave the company an “overweight” rating in a report on Friday, February 2nd. Zacks Investment Research upgraded Baxter International from a “sell” rating to a “hold” rating in a report on Thursday, January 4th. Deutsche Bank upgraded Baxter International from a “hold” rating to a “buy” rating and set a $80.00 price target for the company in a report on Tuesday, February 20th. Finally, BMO Capital Markets lifted their price target on Baxter International from $74.00 to $77.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. Eight research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Baxter International has a consensus rating of “Buy” and a consensus price target of $71.00.
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 Zacks’ consensus estimate of $0.59 by $0.05. Baxter International had a return on equity of 15.11% and a net margin of 6.79%. The business had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.77 billion. During the same quarter in the previous year, the business earned $0.57 EPS. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. research analysts expect that Baxter International Inc will post 2.78 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Friday, March 2nd will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date is Thursday, March 1st. Baxter International’s payout ratio is currently 49.61%.
Baxter International declared that its board has approved a stock repurchase 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 often a sign that the company’s board believes its stock is undervalued.
In related news, SVP Giuseppe Accogli sold 28,641 shares of the business’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $67.00, for a total transaction of $1,918,947.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Carole J. Shapazian sold 4,990 shares of the business’s stock in a transaction that occurred on Friday, March 2nd. The stock was 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. 0.05% of the stock is currently owned by insiders.
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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