CIBC Asset Management Inc lessened its holdings in shares of Baxter International Inc (NYSE:BAX) by 2.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 59,361 shares of the medical instruments supplier’s stock after selling 1,690 shares during the period. CIBC Asset Management Inc’s holdings in Baxter International were worth $4,826,000 at the end of the most recent reporting period.
A number of other large investors have also made changes to their positions in the stock. Vanguard Group Inc grew its stake in shares of Baxter International by 1.3% in the 3rd quarter. Vanguard Group Inc now owns 36,398,931 shares of the medical instruments supplier’s stock valued at $2,805,993,000 after buying an additional 470,198 shares in the last quarter. Cozad Asset Management Inc. grew its stake in shares of Baxter International by 6.2% in the 4th quarter. Cozad Asset Management Inc. now owns 3,423 shares of the medical instruments supplier’s stock valued at $225,000 after buying an additional 200 shares in the last quarter. CX Institutional grew its stake in shares of Baxter International by 705.2% in the 4th quarter. CX Institutional now owns 781 shares of the medical instruments supplier’s stock valued at $51,000 after buying an additional 684 shares in the last quarter. Gofen & Glossberg LLC IL grew its stake in shares of Baxter International by 6.9% in the 4th quarter. Gofen & Glossberg LLC IL now owns 15,493 shares of the medical instruments supplier’s stock valued at $1,020,000 after buying an additional 1,004 shares in the last quarter. Finally, Stock Yards Bank & Trust Co. grew its stake in shares of Baxter International by 5.1% in the 4th quarter. Stock Yards Bank & Trust Co. now owns 6,744 shares of the medical instruments supplier’s stock valued at $444,000 after buying an additional 328 shares in the last quarter. Institutional investors own 86.12% of the company’s stock.
In other Baxter International news, Director Peter S. Hellman sold 5,680 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $81.89, for a total transaction of $465,135.20. Following the completion of the sale, the director now owns 28,774 shares of the company’s stock, valued at $2,356,302.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas T. Stallkamp sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $75.16, for a total value of $75,160.00. Following the sale, the director now directly owns 6,780 shares of the company’s stock, valued at approximately $509,584.80. The disclosure for this sale can be found here. Insiders have sold 57,187 shares of company stock valued at $4,447,619 in the last ninety days. Company insiders own 0.70% of the company’s stock.
Baxter International (NYSE:BAX) last announced its earnings results on Thursday, April 25th. The medical instruments supplier reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.08. The firm had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.61 billion. Baxter International had a return on equity of 20.04% and a net margin of 14.27%. The company’s revenue was down 1.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.70 earnings per share. As a group, equities analysts predict that Baxter International Inc will post 3.32 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 7th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $0.88 dividend on an annualized basis and a yield of 1.16%. This is a boost from Baxter International’s previous quarterly dividend of $0.19. Baxter International’s dividend payout ratio is presently 24.92%.
BAX has been the subject of several recent research reports. Barclays boosted their price target on Baxter International from $72.00 to $75.00 and gave the company an “equal weight” rating in a research note on Monday, April 15th. Piper Jaffray Companies reissued an “overweight” rating and issued a $80.00 price target on shares of Baxter International in a research note on Friday, February 1st. Morgan Stanley boosted their price target on Baxter International from $80.00 to $83.00 and gave the company an “overweight” rating in a research note on Tuesday, March 5th. Zacks Investment Research raised Baxter International from a “hold” rating to a “buy” rating and set a $86.00 price target for the company in a research note on Tuesday, March 19th. Finally, Cowen set a $75.00 price target on Baxter International and gave the company a “hold” rating in a research note on Monday, April 22nd. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Baxter International currently has an average rating of “Buy” and a consensus price target of $78.69.
About Baxter International
Baxter International Inc, through its subsidiaries, develops and provides a portfolio of healthcare products. The company operates through North and South America; Europe, Middle East and Africa; and Asia-Pacific segments. The company 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.
Featured Story: Analyst Ratings Trading
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).
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.