Zurich Insurance Group Ltd FI trimmed its holdings in shares of Baxter International Inc (NYSE:BAX) by 7.0% in the second quarter, Holdings Channel reports. The institutional investor owned 90,711 shares of the medical instruments supplier’s stock after selling 6,867 shares during the period. Zurich Insurance Group Ltd FI’s holdings in Baxter International were worth $6,698,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Bridgeworth LLC acquired a new position in shares of Baxter International during the 2nd quarter worth about $102,000. Migdal Insurance & Financial Holdings Ltd. boosted its stake in shares of Baxter International by 3,088.9% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,435 shares of the medical instruments supplier’s stock worth $106,000 after buying an additional 1,390 shares during the last quarter. Baker Ellis Asset Management LLC acquired a new position in shares of Baxter International during the 2nd quarter worth about $111,000. Centaurus Financial Inc. acquired a new position in shares of Baxter International during the 2nd quarter worth about $117,000. Finally, Whittier Trust Co. of Nevada Inc. boosted its stake in shares of Baxter International by 84.4% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,748 shares of the medical instruments supplier’s stock worth $126,000 after buying an additional 800 shares during the last quarter. Institutional investors own 83.08% of the company’s stock.
Shares of BAX opened at $77.69 on Friday. Baxter International Inc has a 12 month low of $60.78 and a 12 month high of $77.85. The company has a market cap of $40.65 billion, a PE ratio of 27.67, a price-to-earnings-growth ratio of 2.06 and a beta of 0.74. The company has a current ratio of 2.62, a quick ratio of 2.00 and a debt-to-equity ratio of 0.39.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 1st. Stockholders of record on Friday, August 31st will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Thursday, August 30th. This represents a $0.76 annualized dividend and a dividend yield of 0.98%. Baxter International’s dividend payout ratio is presently 30.65%.
BAX has been the subject of a number of recent research reports. Bank of America increased their price objective on shares of Baxter International from $73.00 to $83.00 and gave the stock a “buy” rating in a research note on Tuesday, May 22nd. Zacks Investment Research cut shares of Baxter International from a “buy” rating to a “hold” rating in a report on Thursday, May 24th. Piper Jaffray Companies reissued an “overweight” rating and issued a $77.00 price target on shares of Baxter International in a report on Thursday, May 31st. Royal Bank of Canada reissued a “hold” rating and issued a $76.00 price target on shares of Baxter International in a report on Friday, July 27th. Finally, JPMorgan Chase & Co. increased their price target on shares of Baxter International from $80.00 to $85.00 and gave the company an “overweight” rating in a report on Friday, July 27th. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $76.00.
In related news, Director Carole J. Shapazian sold 5,400 shares of the stock in a transaction that occurred on Wednesday, August 8th. The shares were sold at an average price of $72.97, for a total transaction of $394,038.00. Following the sale, the director now owns 15,248 shares in the company, valued at approximately $1,112,646.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Scott Pleau sold 27,197 shares of the stock in a transaction that occurred on Monday, June 25th. The stock was sold at an average price of $73.57, for a total transaction of $2,000,883.29. Following the sale, the senior vice president now owns 47,363 shares in the company, valued at approximately $3,484,495.91. The disclosure for this sale can be found here. Insiders have sold 43,283 shares of company stock worth $3,196,371 over the last ninety days. Insiders own 0.05% of the company’s stock.
Baxter International 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.
Further Reading: Fundamental Analysis
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