Nisa Investment Advisors LLC increased its holdings in Baxter International Inc (NYSE:BAX) by 3.8% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 237,015 shares of the medical instruments supplier’s stock after acquiring an additional 8,645 shares during the period. Nisa Investment Advisors LLC’s holdings in Baxter International were worth $19,272,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Brookmont Capital Management raised its stake in Baxter International by 3.7% in the fourth quarter. Brookmont Capital Management now owns 4,048 shares of the medical instruments supplier’s stock valued at $266,000 after buying an additional 146 shares in the last quarter. Sullivan Bruyette Speros & Blaney LLC raised its stake in Baxter International by 3.6% in the fourth quarter. Sullivan Bruyette Speros & Blaney LLC now owns 4,322 shares of the medical instruments supplier’s stock valued at $284,000 after buying an additional 150 shares in the last quarter. Nachman Norwood & Parrott Inc raised its stake in Baxter International by 4.8% in the first quarter. Nachman Norwood & Parrott Inc now owns 3,269 shares of the medical instruments supplier’s stock valued at $266,000 after buying an additional 150 shares in the last quarter. Private Capital Group LLC raised its stake in Baxter International by 11.4% in the fourth quarter. Private Capital Group LLC now owns 1,504 shares of the medical instruments supplier’s stock valued at $99,000 after buying an additional 154 shares in the last quarter. Finally, Trust Co. of Toledo NA OH raised its stake in Baxter International by 0.4% in the fourth quarter. Trust Co. of Toledo NA OH now owns 38,188 shares of the medical instruments supplier’s stock valued at $2,514,000 after buying an additional 158 shares in the last quarter. Institutional investors own 86.38% of the company’s stock.
A number of analysts have recently commented on BAX shares. Wells Fargo & Co lifted their target price on Baxter International from $80.00 to $89.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 3rd. Zacks Investment Research cut Baxter International from a “buy” rating to a “hold” rating in a research report on Tuesday, April 2nd. Barclays lifted their target price on Baxter International from $72.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. Cowen set a $75.00 target price on Baxter International and gave the stock a “hold” rating in a research report on Monday, April 22nd. Finally, Morgan Stanley raised their price target on Baxter International from $80.00 to $83.00 and gave the stock an “overweight” rating in a report on Tuesday, March 5th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Baxter International presently has a consensus rating of “Buy” and an average price target of $78.50.
Baxter International (NYSE:BAX) last announced its quarterly earnings results on Thursday, April 25th. The medical instruments supplier reported $0.76 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.08. The business had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.61 billion. Baxter International had a return on equity of 19.50% and a net margin of 14.27%. The company’s quarterly revenue was down 1.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.70 EPS. Analysts expect that Baxter International Inc will post 3.32 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 7th will be given a dividend of $0.22 per share. This is an increase from Baxter International’s previous quarterly dividend of $0.19. This represents a $0.88 annualized dividend and a dividend yield of 1.16%. The ex-dividend date of this dividend is Thursday, June 6th. Baxter International’s payout ratio is currently 24.92%.
In other Baxter International news, Director John D. Forsyth sold 1,500 shares of the business’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $75.92, for a total value of $113,880.00. Following the completion of the transaction, the director now directly owns 31,703 shares in the company, valued at approximately $2,406,891.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Giuseppe Accogli sold 38,297 shares of the business’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $76.78, for a total value of $2,940,443.66. Following the completion of the transaction, the senior vice president now owns 70,001 shares of the company’s stock, valued at $5,374,676.78. The disclosure for this sale can be found here. Insiders have sold a total of 57,187 shares of company stock valued at $4,447,619 over the last 90 days. Insiders own 0.70% of the company’s stock.
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About Baxter International
Baxter International Inc, through its subsidiaries, develops and provides a portfolio of healthcare products. The company operates through North and South America; Europe, Middle East and Africa; and Asia-Pacific segments. The company 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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