Trexquant Investment LP Raises Holdings in Baxter International Inc (BAX)

Trexquant Investment LP raised its position in Baxter International Inc (NYSE:BAX) by 35.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 37,223 shares of the medical instruments supplier’s stock after buying an additional 9,718 shares during the quarter. Trexquant Investment LP’s holdings in Baxter International were worth $2,870,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Bridgeworth LLC purchased a new stake in shares of Baxter International during the second quarter worth approximately $102,000. Migdal Insurance & Financial Holdings Ltd. raised its stake in shares of Baxter International by 3,088.9% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,435 shares of the medical instruments supplier’s stock worth $106,000 after purchasing an additional 1,390 shares during the last quarter. Baker Ellis Asset Management LLC purchased a new stake in shares of Baxter International during the second quarter worth approximately $111,000. Centaurus Financial Inc. purchased a new stake in shares of Baxter International during the second quarter worth approximately $117,000. Finally, Baxter Bros Inc. purchased a new stake in shares of Baxter International during the third quarter worth approximately $201,000. Institutional investors own 81.96% of the company’s stock.

NYSE:BAX opened at $65.47 on Monday. The firm has a market capitalization of $34.84 billion, a price-to-earnings ratio of 26.40, a price-to-earnings-growth ratio of 1.76 and a beta of 1.02. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.60 and a quick ratio of 1.96. Baxter International Inc has a 1 year low of $61.05 and a 1 year high of $78.38.

Baxter International (NYSE:BAX) last posted its 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 company had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.79 billion. Baxter International had a return on equity of 17.67% and a net margin of 10.90%. Baxter International’s revenue was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.64 earnings per share. As a group, sell-side analysts anticipate that Baxter International Inc will post 3 EPS for the current year.

The company also recently announced 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. This represents a $0.76 annualized dividend and a yield of 1.16%. The ex-dividend date of this dividend is Friday, November 30th. Baxter International’s dividend payout ratio (DPR) is 30.65%.

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

Several research analysts have issued reports on the company. ValuEngine upgraded Baxter International from a “hold” rating to a “buy” rating in a research report on Thursday, November 15th. Citigroup cut their price objective 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. Zacks Investment Research reiterated a “hold” rating and issued a $71.00 price objective on shares of Baxter International in a research report on Monday, November 12th. Royal Bank of Canada cut their price objective on Baxter International from $76.00 to $70.00 and set a “sector perform” rating for the company in a research report on Thursday, November 8th. Finally, Morgan Stanley cut their price objective on Baxter International from $75.00 to $66.00 and set an “underweight” rating for the company in a research report on Monday, November 5th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the company’s stock. Baxter International currently has an average rating of “Buy” and a consensus target price of $73.81.

In other Baxter International news, SVP Giuseppe Accogli sold 17,647 shares of the company’s stock in a transaction on Monday, September 17th. The stock was sold at an average price of $77.27, for a total value of $1,363,583.69. Following the sale, the senior vice president now owns 59,452 shares of the company’s stock, valued at $4,593,856.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.07% of the stock is currently owned by corporate insiders.

COPYRIGHT VIOLATION NOTICE: “Trexquant Investment LP Raises Holdings in Baxter International Inc (BAX)” was posted by WKRB News and is the sole property of of WKRB News. If you are accessing this story on another publication, it was illegally copied and reposted in violation of U.S. and international copyright and trademark legislation. The legal version of this story can be read at https://www.wkrb13.com/2018/11/26/trexquant-investment-lp-raises-holdings-in-baxter-international-inc-bax.html.

About Baxter International

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.

Recommended Story: Technical Analysis

Want to see what other hedge funds are holding BAX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Baxter International Inc (NYSE:BAX).

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

Receive News & Ratings for Baxter International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Baxter International and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply