Janney Montgomery Scott LLC reduced its holdings in shares of Baxter International Inc (NYSE:BAX) by 16.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 79,154 shares of the medical instruments supplier’s stock after selling 15,909 shares during the period. Janney Montgomery Scott LLC’s holdings in Baxter International were worth $6,483,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Moloney Securities Asset Management LLC bought a new position in Baxter International in the 2nd quarter valued at about $230,000. BP PLC lifted its position in Baxter International by 11.9% in the 2nd quarter. BP PLC now owns 169,000 shares of the medical instruments supplier’s stock valued at $13,836,000 after acquiring an additional 18,000 shares in the last quarter. SG Americas Securities LLC lifted its position in Baxter International by 1,146.3% in the 2nd quarter. SG Americas Securities LLC now owns 95,991 shares of the medical instruments supplier’s stock valued at $7,862,000 after acquiring an additional 88,289 shares in the last quarter. Advisor Partners LLC lifted its position in Baxter International by 2.1% in the 2nd quarter. Advisor Partners LLC now owns 25,243 shares of the medical instruments supplier’s stock valued at $2,067,000 after acquiring an additional 523 shares in the last quarter. Finally, Community Bank N.A. lifted its position in Baxter International by 78.8% in the 2nd quarter. Community Bank N.A. now owns 2,780 shares of the medical instruments supplier’s stock valued at $227,000 after acquiring an additional 1,225 shares in the last quarter. Hedge funds and other institutional investors own 83.96% of the company’s stock.
Shares of Baxter International stock traded up $1.72 during mid-day trading on Tuesday, hitting $87.32. 36,916 shares of the stock were exchanged, compared to its average volume of 2,358,087. Baxter International Inc has a 12 month low of $61.05 and a 12 month high of $86.68. The firm’s 50-day moving average is $83.21. The company has a quick ratio of 2.10, a current ratio of 2.78 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $44.09 billion, a P/E ratio of 28.61, a P/E/G ratio of 1.99 and a beta of 1.00.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, August 30th will be issued a $0.22 dividend. The ex-dividend date is Thursday, August 29th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.01%. Baxter International’s dividend payout ratio (DPR) is presently 28.85%.
Several equities analysts recently weighed in on BAX shares. Zacks Investment Research raised shares of Baxter International from a “hold” rating to a “buy” rating and set a $86.00 price target on the stock in a research report on Friday, June 21st. KeyCorp started coverage on shares of Baxter International in a research report on Tuesday, June 25th. They issued a “sector weight” rating on the stock. BMO Capital Markets raised their price target on shares of Baxter International to $95.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Raymond James raised their price target on shares of Baxter International from $84.00 to $95.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Baxter International from $80.00 to $88.00 and gave the stock an “overweight” rating in a research report on Monday, May 13th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Baxter International has a consensus rating of “Buy” and a consensus target price of $85.27.
In related news, insider Third Point Llc sold 5,000,000 shares of Baxter International stock in a transaction that occurred on Thursday, May 16th. The shares were 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 SEC, which is available at the SEC website. Also, SVP Jacqueline Kunzler sold 593 shares of Baxter International stock in a transaction that occurred on Wednesday, June 19th. The stock was sold at an average price of $80.46, for a total transaction of $47,712.78. Following the completion of the sale, the senior vice president now directly owns 9,023 shares in the company, valued at approximately $725,990.58. The disclosure for this sale can be found here. Insiders sold a total of 5,001,913 shares of company stock worth $382,000,950 in the last ninety days. 0.70% of the stock is currently owned by insiders.
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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