Marshall Wace North America L.P. Sells 74,798 Shares of Baxter International Inc (BAX)

Marshall Wace North America L.P. lessened its holdings in Baxter International Inc (NYSE:BAX) by 18.4% in the third quarter, HoldingsChannel.com reports. The fund owned 330,684 shares of the medical instruments supplier’s stock after selling 74,798 shares during the period. Marshall Wace North America L.P.’s holdings in Baxter International were worth $25,493,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the company. Great Lakes Advisors LLC bought a new stake in shares of Baxter International in the third quarter valued at about $203,000. Vanguard Group Inc. boosted its position in shares of Baxter International by 1.3% in the third quarter. Vanguard Group Inc. now owns 36,398,931 shares of the medical instruments supplier’s stock valued at $2,805,993,000 after acquiring an additional 470,198 shares during the period. Morgan Stanley boosted its position in shares of Baxter International by 267.9% in the third quarter. Morgan Stanley now owns 10,570,520 shares of the medical instruments supplier’s stock valued at $814,880,000 after acquiring an additional 7,697,267 shares during the period. Nordea Investment Management AB boosted its position in shares of Baxter International by 1.5% in the third quarter. Nordea Investment Management AB now owns 394,248 shares of the medical instruments supplier’s stock valued at $30,393,000 after acquiring an additional 5,828 shares during the period. Finally, Kentucky Retirement Systems bought a new stake in shares of Baxter International in the third quarter valued at about $3,116,000. 83.40% of the stock is owned by institutional investors.

BAX stock opened at $65.02 on Friday. The stock has a market capitalization of $35.54 billion, a P/E ratio of 26.22, a P/E/G ratio of 1.80 and a beta of 1.04. Baxter International Inc has a 52 week low of $61.05 and a 52 week high of $78.38. 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 (NYSE:BAX) last issued its earnings results on Wednesday, October 31st. The medical instruments supplier reported $0.80 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.74 by $0.06. The firm had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.79 billion. Baxter International had a return on equity of 17.67% and a net margin of 10.90%. The business’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.64 earnings per share. On average, sell-side analysts predict that Baxter International Inc will post 3 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 2nd. Shareholders of record on Monday, December 3rd will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.17%. The ex-dividend date is Friday, November 30th. Baxter International’s payout ratio is 30.65%.

Baxter International declared that its Board of Directors has approved a stock buyback program on Tuesday, November 13th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the medical instruments supplier to reacquire up to 6.1% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

BAX has been the subject of a number of analyst reports. Citigroup dropped their price target on Baxter International from $76.00 to $69.00 and set a “neutral” rating for the company in a research note on Tuesday, November 13th. Leerink Swann dropped their price target on Baxter International from $90.00 to $77.00 and set an “outperform” rating for the company in a research note on Thursday, November 1st. Argus raised Baxter International from a “hold” rating to a “buy” rating and set a $70.00 price target for the company in a research note on Friday, November 2nd. Wells Fargo & Co dropped their price target on Baxter International from $82.00 to $72.00 and set an “outperform” rating for the company in a research note on Thursday, November 1st. Finally, Piper Jaffray Companies dropped their price target on Baxter International from $83.00 to $72.00 and set an “overweight” rating for the company in a research note on Thursday, November 1st. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the company. Baxter International presently has a consensus rating of “Buy” and a consensus target price of $74.41.

In other Baxter International news, Director Carole J. Shapazian sold 11,749 shares of the business’s stock in a transaction dated Monday, December 3rd. The stock was sold at an average price of $68.48, for a total transaction of $804,571.52. Following the completion of the transaction, the director now owns 15,237 shares of the company’s stock, valued at $1,043,429.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Third Point Llc sold 8,000,000 shares of the business’s stock in a transaction dated Monday, December 3rd. The stock was sold at an average price of $68.62, for a total value of $548,960,000.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,029,396 shares of company stock valued at $551,128,155. Insiders own 0.05% of the company’s stock.

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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.

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

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