Forsta AP Fonden Has $4.10 Million Position in Baxter International Inc (BAX)

Forsta AP Fonden lowered its position in Baxter International Inc (NYSE:BAX) by 3.3% in the first quarter, HoldingsChannel.com reports. The firm owned 50,400 shares of the medical instruments supplier’s stock after selling 1,700 shares during the period. Forsta AP Fonden’s holdings in Baxter International were worth $4,098,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc grew its position in Baxter International by 1.3% in the 3rd quarter. Vanguard Group Inc now owns 36,398,931 shares of the medical instruments supplier’s stock valued at $2,805,993,000 after buying an additional 470,198 shares during the last quarter. Northern Trust Corp raised its stake in shares of Baxter International by 1.6% during the 4th quarter. Northern Trust Corp now owns 8,615,513 shares of the medical instruments supplier’s stock worth $567,073,000 after buying an additional 136,476 shares during the last quarter. Norges Bank acquired a new position in shares of Baxter International during the 4th quarter worth $549,458,000. Veritas Asset Management LLP raised its stake in shares of Baxter International by 1.0% during the 1st quarter. Veritas Asset Management LLP now owns 7,850,949 shares of the medical instruments supplier’s stock worth $638,361,000 after buying an additional 77,608 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Baxter International by 4.8% during the 4th quarter. Geode Capital Management LLC now owns 6,444,204 shares of the medical instruments supplier’s stock worth $423,409,000 after buying an additional 297,006 shares during the last quarter. 86.12% of the stock is owned by hedge funds and other institutional investors.

In other Baxter International news, insider Third Point Llc sold 5,000,000 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $76.37, for a total value of $381,850,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Giuseppe Accogli sold 38,297 shares of the company’s stock in a transaction that occurred 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 directly owns 70,001 shares in the company, valued at $5,374,676.78. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,057,187 shares of company stock valued at $386,297,619. 0.70% of the stock is owned by company insiders.

Several research analysts recently weighed in on BAX shares. Barclays boosted their target price on shares of Baxter International from $72.00 to $75.00 and gave the company an “equal weight” rating in a research note on Monday, April 15th. Piper Jaffray Companies reissued an “overweight” rating and issued a $80.00 target price on shares of Baxter International in a research note on Friday, February 1st. Morgan Stanley boosted their target price on shares of Baxter International from $80.00 to $83.00 and gave the company an “overweight” rating in a research note on Tuesday, March 5th. Zacks Investment Research downgraded shares of Baxter International from a “buy” rating to a “hold” rating in a research note on Thursday, May 9th. Finally, Cowen set a $75.00 target price on shares of Baxter International and gave the company a “hold” rating in a research note on Monday, April 22nd. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $78.63.

BAX opened at $75.30 on Wednesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.83 and a quick ratio of 1.30. The stock has a market capitalization of $38.76 billion, a price-to-earnings ratio of 24.69, a price-to-earnings-growth ratio of 1.79 and a beta of 0.96. Baxter International Inc has a 12 month low of $61.05 and a 12 month high of $82.25.

Baxter International (NYSE:BAX) last issued its earnings results on Thursday, April 25th. The medical instruments supplier reported $0.76 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.08. The business had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.61 billion. Baxter International had a return on equity of 20.04% and a net margin of 14.27%. The company’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.70 EPS. As a group, sell-side analysts forecast that Baxter International Inc will post 3.32 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 7th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date is Thursday, June 6th. This is a boost from Baxter International’s previous quarterly dividend of $0.19. Baxter International’s dividend payout ratio is currently 24.92%.

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Baxter International Profile

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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Institutional Ownership by Quarter for Baxter International (NYSE:BAX)

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