Heritage Investors Management Corp decreased its stake in Baxter International Inc (NYSE:BAX) by 3.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 43,178 shares of the medical instruments supplier’s stock after selling 1,619 shares during the period. Heritage Investors Management Corp’s holdings in Baxter International were worth $3,329,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of BAX. FMR LLC boosted its holdings in shares of Baxter International by 25.6% in the 2nd quarter. FMR LLC now owns 28,637,027 shares of the medical instruments supplier’s stock valued at $2,114,558,000 after buying an additional 5,845,720 shares in the last quarter. Voya Investment Management LLC boosted its holdings in shares of Baxter International by 411.6% in the 2nd quarter. Voya Investment Management LLC now owns 3,411,849 shares of the medical instruments supplier’s stock valued at $251,931,000 after buying an additional 2,745,012 shares in the last quarter. Morgan Stanley boosted its holdings in shares of Baxter International by 107.8% in the 2nd quarter. Morgan Stanley now owns 2,873,253 shares of the medical instruments supplier’s stock valued at $212,161,000 after buying an additional 1,490,287 shares in the last quarter. Standard Life Aberdeen plc boosted its holdings in shares of Baxter International by 77.2% in the 2nd quarter. Standard Life Aberdeen plc now owns 2,596,870 shares of the medical instruments supplier’s stock valued at $191,753,000 after buying an additional 1,131,691 shares in the last quarter. Finally, SPF Beheer BV acquired a new position in shares of Baxter International in the 2nd quarter valued at $53,405,000. Institutional investors and hedge funds own 82.28% of the company’s stock.
In related news, SVP Giuseppe Accogli sold 17,647 shares of the stock in a transaction on Monday, September 17th. The shares were sold at an average price of $77.27, for a total transaction of $1,363,583.69. Following the completion of the sale, the senior vice president now owns 59,452 shares in the company, valued at approximately $4,593,856.04. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.05% of the stock is owned by corporate insiders.
BAX has been the subject of several research analyst reports. Zacks Investment Research upgraded shares of Baxter International from a “hold” rating to a “buy” rating and set a $87.00 target price for the company in a report on Tuesday, September 25th. Argus upgraded shares of Baxter International from a “hold” rating to a “buy” rating and set a $70.00 target price for the company in a report on Friday, November 2nd. Royal Bank of Canada restated a “hold” rating and issued a $76.00 target price on shares of Baxter International in a report on Friday, July 27th. ValuEngine cut shares of Baxter International from a “buy” rating to a “hold” rating in a report on Thursday, November 1st. Finally, Citigroup upped their target price on shares of Baxter International from $74.00 to $76.00 and gave the company a “neutral” rating in a report on Tuesday, July 31st. Two analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the company. The company has an average rating of “Buy” and an average target price of $75.25.
Shares of NYSE:BAX opened at $63.48 on Friday. The firm has a market cap of $33.79 billion, a P/E ratio of 25.60, a price-to-earnings-growth ratio of 1.71 and a beta of 1.02. The company has a quick ratio of 2.00, a current ratio of 2.60 and a debt-to-equity ratio of 0.38. Baxter International Inc has a 1-year low of $61.05 and a 1-year high of $78.38.
Baxter International (NYSE:BAX) last issued its quarterly earnings results on Wednesday, October 31st. The medical instruments supplier reported $0.80 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.06. The firm had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.79 billion. Baxter International had a net margin of 10.90% and a return on equity of 17.67%. Baxter International’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.64 EPS. As a group, research analysts expect that Baxter International Inc will post 3 earnings per share for the current fiscal year.
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Baxter International Company Profile
Baxter International Inc provides a portfolio of healthcare products. The company operates through North and South America; Europe, Middle East and Africa; and Asia-Pacific segments. It 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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