Baxter International Inc (BAX) Shares Bought by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale raised its holdings in Baxter International Inc (NYSE:BAX) by 3.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 222,825 shares of the medical instruments supplier’s stock after purchasing an additional 7,426 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Baxter International were worth $16,633,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Cornerstone Wealth Management LLC acquired a new stake in Baxter International in the 2nd quarter worth about $447,000. Steward Partners Investment Advisory LLC raised its stake in Baxter International by 40.9% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 3,733 shares of the medical instruments supplier’s stock worth $276,000 after purchasing an additional 1,084 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in Baxter International by 11.7% in the 2nd quarter. Janney Montgomery Scott LLC now owns 115,662 shares of the medical instruments supplier’s stock worth $8,541,000 after purchasing an additional 12,093 shares in the last quarter. Penn Capital Management Co. Inc. raised its stake in Baxter International by 9.8% in the 2nd quarter. Penn Capital Management Co. Inc. now owns 25,599 shares of the medical instruments supplier’s stock worth $1,915,000 after purchasing an additional 2,281 shares in the last quarter. Finally, OLD National Bancorp IN raised its stake in Baxter International by 22.5% in the 2nd quarter. OLD National Bancorp IN now owns 5,315 shares of the medical instruments supplier’s stock worth $393,000 after purchasing an additional 977 shares in the last quarter. Institutional investors own 81.96% of the company’s stock.

BAX has been the topic of several recent analyst reports. 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. Zacks Investment Research raised shares of Baxter International from a “hold” rating to a “buy” rating and set a $87.00 target price on the stock in a report on Tuesday, September 25th. ValuEngine raised shares of Baxter International from a “hold” rating to a “buy” rating in a report on Thursday, November 15th. Citigroup raised their target price on shares of Baxter International from $74.00 to $76.00 and gave the company a “neutral” rating in a report on Tuesday, July 31st. Finally, BMO Capital Markets decreased their target price on shares of Baxter International from $86.00 to $76.00 and set an “outperform” rating on the stock in a report on Thursday, November 1st. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have issued a buy rating to the stock. Baxter International currently has a consensus rating of “Buy” and an average price target of $73.81.

Shares of Baxter International stock opened at $65.47 on Monday. The company has a market cap of $34.84 billion, a P/E ratio of 22.50, a P/E/G ratio of 1.76 and a beta of 1.02. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.96 and a current ratio of 2.60. Baxter International Inc has a 1 year low of $61.05 and a 1 year high of $78.38.

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

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 2nd. Investors of record on Monday, December 3rd will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.16%. The ex-dividend date is Friday, November 30th. Baxter International’s dividend payout ratio (DPR) is presently 30.65%.

Baxter International announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, November 13th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the medical instruments supplier to repurchase up to 6.1% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s management believes its stock is undervalued.

In related news, SVP Giuseppe Accogli sold 17,647 shares of Baxter International stock in a transaction that occurred on Monday, September 17th. The shares were sold at an average price of $77.27, for a total transaction of $1,363,583.69. Following the sale, the senior vice president now directly owns 59,452 shares of the company’s stock, valued at approximately $4,593,856.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.07% of the company’s stock.

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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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