Standard Life Aberdeen plc increased its position in Baxter International Inc (NYSE:BAX) by 121.2% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 5,743,738 shares of the medical instruments supplier’s stock after acquiring an additional 3,146,868 shares during the quarter. Baxter International comprises 0.8% of Standard Life Aberdeen plc’s investment portfolio, making the stock its 25th largest holding. Standard Life Aberdeen plc’s holdings in Baxter International were worth $442,813,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently made changes to their positions in BAX. Retirement Systems of Alabama grew its holdings in Baxter International by 35.0% during the 3rd quarter. Retirement Systems of Alabama now owns 312,010 shares of the medical instruments supplier’s stock valued at $24,053,000 after buying an additional 80,919 shares in the last quarter. First Hawaiian Bank bought a new stake in shares of Baxter International during the 3rd quarter valued at about $1,639,000. Meiji Yasuda Asset Management Co Ltd. boosted its position in shares of Baxter International by 18.0% during the 3rd 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 acquiring an additional 6,565 shares during the last quarter. Natixis boosted its position in shares of Baxter International by 62.5% during the 2nd quarter. Natixis now owns 716,411 shares of the medical instruments supplier’s stock valued at $52,900,000 after acquiring an additional 275,452 shares during the last quarter. Finally, AMP Capital Investors Ltd boosted its position in shares of Baxter International by 1.5% during the 2nd quarter. AMP Capital Investors Ltd now owns 267,439 shares of the medical instruments supplier’s stock valued at $19,749,000 after acquiring an additional 3,839 shares during the last quarter. 83.37% of the stock is owned by institutional investors.
NYSE:BAX opened at $65.11 on Wednesday. The company has a market capitalization of $34.16 billion, a P/E ratio of 26.25, a PEG ratio of 1.73 and a beta of 1.04. Baxter International Inc has a 1-year low of $61.05 and a 1-year high of $78.38. The company has a quick ratio of 1.96, a current ratio of 2.60 and a debt-to-equity ratio of 0.38.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 2nd. Shareholders of record on Monday, December 3rd will be paid a $0.19 dividend. The ex-dividend date is Friday, November 30th. This represents a $0.76 dividend on an annualized basis and a yield of 1.17%. Baxter International’s dividend payout ratio (DPR) is currently 30.65%.
Baxter International declared that its Board of Directors has approved a share buyback program on Tuesday, November 13th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the medical instruments supplier to purchase up to 6.1% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.
A number of analysts have recently issued reports on the company. Credit Suisse Group assumed coverage on Baxter International in a research report on Monday. They set an “outperform” rating and a $77.00 price target for the company. Wells Fargo & Co lifted their price target on Baxter International from $72.00 to $76.00 and gave the company an “outperform” rating in a research report on Tuesday, December 4th. UBS Group began coverage on Baxter International in a research report on Tuesday, November 27th. They set a “buy” rating and a $80.00 price target for the company. ValuEngine upgraded Baxter International from a “hold” rating to a “buy” rating in a research report on Thursday, November 15th. Finally, Citigroup dropped their target price on Baxter International from $76.00 to $69.00 and set a “neutral” rating for the company in a research report on Tuesday, November 13th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and thirteen have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $74.56.
In other Baxter International news, Director Carole J. Shapazian sold 11,749 shares of Baxter International stock in a transaction that occurred on Monday, December 3rd. The stock was sold at an average price of $68.48, for a total value of $804,571.52. Following the transaction, the director now directly owns 15,237 shares of the company’s stock, valued at approximately $1,043,429.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Third Point Llc sold 8,000,000 shares of Baxter International stock in a transaction that occurred on Monday, December 3rd. The stock was sold at an average price of $68.62, for a total value of $548,960,000.00. The disclosure for this sale can be found here. Insiders sold a total of 8,013,249 shares of company stock worth $549,865,102 over the last ninety days. Insiders own 0.07% of the company’s stock.
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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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