Wetherby Asset Management Inc. increased its stake in shares of Baxter International Inc (NYSE:BAX) by 5.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,762 shares of the medical instruments supplier’s stock after acquiring an additional 685 shares during the quarter. Wetherby Asset Management Inc.’s holdings in Baxter International were worth $1,045,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in the stock. Weaver Consulting Group purchased a new position in Baxter International during the 1st quarter worth $25,000. C J Advisory Inc purchased a new position in Baxter International during the 1st quarter worth $28,000. Evolution Wealth Advisors LLC purchased a new position in Baxter International during the 2nd quarter worth $32,000. Manchester Financial Inc. purchased a new position in Baxter International during the 2nd quarter worth $37,000. Finally, NuWave Investment Management LLC grew its position in Baxter International by 1,808.3% during the 2nd quarter. NuWave Investment Management LLC now owns 458 shares of the medical instruments supplier’s stock worth $38,000 after purchasing an additional 434 shares during the last quarter. Hedge funds and other institutional investors own 83.78% of the company’s stock.
BAX has been the topic of several research reports. Piper Jaffray Companies raised their price objective on shares of Baxter International from $90.00 to $95.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Barclays set a $82.00 price objective on shares of Baxter International and gave the stock a “hold” rating in a research report on Friday, July 26th. Zacks Investment Research raised shares of Baxter International from a “hold” rating to a “buy” rating and set a $86.00 target price on the stock in a report on Friday, June 21st. Cowen set a $75.00 target price on shares of Baxter International and gave the company a “hold” rating in a report on Monday, April 22nd. Finally, JPMorgan Chase & Co. lifted their target price on shares of Baxter International from $80.00 to $88.00 and gave the company an “overweight” rating in a report on Monday, May 13th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $85.27.
Shares of NYSE:BAX traded down $0.26 during midday trading on Wednesday, hitting $83.15. The stock had a trading volume of 37,592 shares, compared to its average volume of 2,323,952. The stock has a market cap of $43.24 billion, a P/E ratio of 27.25, a PEG ratio of 1.96 and a beta of 1.00. The company’s 50 day moving average price is $82.76. The company has a quick ratio of 2.10, a current ratio of 2.78 and a debt-to-equity ratio of 0.72. Baxter International Inc has a 1 year low of $61.05 and a 1 year high of $86.65.
Baxter International (NYSE:BAX) last issued its earnings results on Thursday, July 25th. The medical instruments supplier reported $0.89 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.08. The business had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.80 billion. Baxter International had a net margin of 14.28% and a return on equity of 21.21%. The business’s quarterly revenue was down .1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.77 earnings per share. Equities analysts forecast that Baxter International Inc will post 3.37 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, August 30th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date of this dividend is Thursday, August 29th. Baxter International’s dividend payout ratio is currently 28.85%.
Baxter International Company 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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