Baxter International Inc (BAX) Shares Sold by Marshall Wace North America L.P.

Marshall Wace North America L.P. reduced its stake in shares of Baxter International Inc (NYSE:BAX) by 18.4% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 330,684 shares of the medical instruments supplier’s stock after selling 74,798 shares during the period. Marshall Wace North America L.P. owned approximately 0.06% of Baxter International worth $25,493,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Retirement Systems of Alabama raised its holdings in shares of Baxter International by 35.0% in the third quarter. Retirement Systems of Alabama now owns 312,010 shares of the medical instruments supplier’s stock valued at $24,053,000 after purchasing an additional 80,919 shares during the last quarter. First Hawaiian Bank acquired a new stake in shares of Baxter International in the third quarter valued at approximately $1,639,000. Meiji Yasuda Asset Management Co Ltd. raised its holdings in shares of Baxter International by 18.0% in the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 43,055 shares of the medical instruments supplier’s stock valued at $3,319,000 after purchasing an additional 6,565 shares during the last quarter. Natixis raised its holdings in shares of Baxter International by 62.5% in the second quarter. Natixis now owns 716,411 shares of the medical instruments supplier’s stock valued at $52,900,000 after purchasing an additional 275,452 shares during the last quarter. Finally, AMP Capital Investors Ltd raised its holdings in shares of Baxter International by 1.5% in the second quarter. AMP Capital Investors Ltd now owns 267,439 shares of the medical instruments supplier’s stock valued at $19,749,000 after purchasing an additional 3,839 shares during the last quarter. Hedge funds and other institutional investors own 83.40% of the company’s stock.

NYSE:BAX opened at $65.02 on Friday. Baxter International Inc has a 1-year low of $61.05 and a 1-year high of $78.38. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.60 and a quick ratio of 1.96. The firm has a market capitalization of $35.54 billion, a P/E ratio of 26.22, a PEG ratio of 1.80 and a beta of 1.04.

Baxter International (NYSE:BAX) last released its earnings results on Wednesday, October 31st. The medical instruments supplier reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.06. Baxter International had a net margin of 10.90% and a return on equity of 17.67%. The business had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.79 billion. During the same period last year, the business earned $0.64 earnings per share. The firm’s revenue was up 2.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Baxter International Inc will post 3 EPS for the current year.

Baxter International declared that its board has approved a share buyback program on Tuesday, November 13th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the medical instruments supplier to purchase up to 6.1% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 2nd. Investors of record on Monday, December 3rd will be paid a $0.19 dividend. The ex-dividend date of this dividend is Friday, November 30th. This represents a $0.76 annualized dividend and a dividend yield of 1.17%. Baxter International’s dividend payout ratio is presently 30.65%.

In other Baxter International news, SVP Giuseppe Accogli sold 17,647 shares of Baxter International 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 transaction, the senior vice president now directly owns 59,452 shares of the company’s stock, valued at $4,593,856.04. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Carole J. Shapazian sold 11,749 shares of Baxter International stock in a transaction on Monday, December 3rd. The stock was sold at an average price of $68.48, for a total transaction of $804,571.52. Following the transaction, the director now directly owns 15,237 shares of the company’s stock, valued at $1,043,429.76. The disclosure for this sale can be found here. Insiders sold 8,029,396 shares of company stock valued at $551,128,155 over the last three months. 0.05% of the stock is owned by company insiders.

A number of analysts have recently issued reports on BAX shares. Argus upgraded shares of Baxter International from a “hold” rating to a “buy” rating and set a $70.00 price objective on the stock in a report on Friday, November 2nd. Zacks Investment Research upgraded shares of Baxter International from a “hold” rating to a “buy” rating and set a $87.00 price objective on the stock in a report on Tuesday, September 25th. ValuEngine upgraded shares of Baxter International from a “hold” rating to a “buy” rating in a report on Thursday, November 15th. UBS Group started coverage on shares of Baxter International in a report on Tuesday, November 27th. They issued a “buy” rating and a $80.00 price objective on the stock. Finally, Citigroup lowered their price objective on shares of Baxter International from $76.00 to $69.00 and set a “neutral” rating on the stock in a report on Tuesday, November 13th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and twelve have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $74.41.

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About Baxter International

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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