Ontario Teachers Pension Plan Board Has $13.43 Million Holdings in Baxter International Inc (BAX)

Ontario Teachers Pension Plan Board grew its holdings in shares of Baxter International Inc (NYSE:BAX) by 16.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 174,268 shares of the medical instruments supplier’s stock after buying an additional 24,475 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in Baxter International were worth $13,434,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Bridgeworth LLC bought a new stake in Baxter International during the 2nd quarter worth about $102,000. Migdal Insurance & Financial Holdings Ltd. lifted its position in 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 in the last quarter. Baker Ellis Asset Management LLC bought a new stake in Baxter International during the 2nd quarter worth about $111,000. Centaurus Financial Inc. bought a new stake in Baxter International during the 2nd quarter worth about $117,000. Finally, Whittier Trust Co. of Nevada Inc. raised its holdings in shares of Baxter International by 84.4% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,748 shares of the medical instruments supplier’s stock valued at $126,000 after purchasing an additional 800 shares during the period. 81.96% of the stock is currently owned by hedge funds and other institutional investors.

In other Baxter International news, SVP Giuseppe Accogli sold 17,647 shares of the stock in a transaction dated Monday, September 17th. The shares were sold at an average price of $77.27, for a total value of $1,363,583.69. Following the transaction, the senior vice president now directly owns 59,452 shares of the company’s stock, valued at approximately $4,593,856.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.05% of the stock is owned by corporate insiders.

A number of equities research analysts have recently issued reports on BAX shares. Citigroup dropped their target price on shares of Baxter International from $76.00 to $69.00 and set a “neutral” rating on the stock in a report on Tuesday, November 13th. Piper Jaffray Companies upped their target price on shares of Baxter International from $77.00 to $83.00 and gave the company an “overweight” rating in a report on Friday, July 27th. Leerink Swann dropped their target price on shares of Baxter International from $90.00 to $77.00 and set an “outperform” rating on the stock in a report on Thursday, November 1st. Argus raised shares of Baxter International from a “hold” rating to a “buy” rating and set a $70.00 target price on the stock in a report on Friday, November 2nd. Finally, Wells Fargo & Co dropped their target price on shares of Baxter International from $82.00 to $72.00 and set an “outperform” rating on the stock in a report on Thursday, November 1st. Two analysts have rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $73.81.

Baxter International stock opened at $65.18 on Friday. The stock has a market capitalization of $34.87 billion, a price-to-earnings ratio of 26.28, a P/E/G ratio of 1.76 and a beta of 1.02. The company has a current ratio of 2.60, a quick ratio of 1.96 and a debt-to-equity ratio of 0.38. Baxter International Inc has a twelve month low of $61.05 and a twelve month high of $78.38.

Baxter International (NYSE:BAX) last released its quarterly earnings results on Wednesday, October 31st. The medical instruments supplier reported $0.80 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.06. The firm had revenue of $2.77 billion for the quarter, compared to analysts’ expectations of $2.79 billion. Baxter International had a net margin of 10.90% and a return on equity of 17.67%. The business’s revenue was up 2.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.64 EPS. As a group, equities analysts forecast that Baxter International Inc will post 3 earnings per share for the current fiscal year.

Baxter International declared that its Board of Directors has initiated a share buyback program on Tuesday, November 13th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the medical instruments supplier to buy up to 6.1% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

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 issued a $0.19 dividend. The ex-dividend date of this dividend is Friday, November 30th. This represents a $0.76 annualized dividend and a yield of 1.17%. Baxter International’s dividend payout ratio is currently 30.65%.

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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.

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

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