Paloma Partners Management Co Has $4.71 Million Holdings in Baxter International Inc (NYSE:BAX)

Paloma Partners Management Co trimmed its position in shares of Baxter International Inc (NYSE:BAX) by 41.5% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 57,477 shares of the medical instruments supplier’s stock after selling 40,782 shares during the period. Paloma Partners Management Co’s holdings in Baxter International were worth $4,708,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Man Group plc grew its stake in Baxter International by 3.5% during the second quarter. Man Group plc now owns 612,829 shares of the medical instruments supplier’s stock worth $50,190,000 after buying an additional 20,486 shares in the last quarter. Balyasny Asset Management LLC lifted its holdings in shares of Baxter International by 553.6% in the second quarter. Balyasny Asset Management LLC now owns 1,209,969 shares of the medical instruments supplier’s stock worth $99,096,000 after acquiring an additional 1,024,852 shares during the last quarter. First Foundation Advisors lifted its holdings in shares of Baxter International by 21.6% in the second quarter. First Foundation Advisors now owns 30,063 shares of the medical instruments supplier’s stock worth $2,462,000 after acquiring an additional 5,341 shares during the last quarter. Massmutual Trust Co. FSB ADV lifted its holdings in shares of Baxter International by 93.5% in the second quarter. Massmutual Trust Co. FSB ADV now owns 1,560 shares of the medical instruments supplier’s stock worth $128,000 after acquiring an additional 754 shares during the last quarter. Finally, ETF Managers Group LLC lifted its holdings in shares of Baxter International by 17.9% in the second quarter. ETF Managers Group LLC now owns 19,664 shares of the medical instruments supplier’s stock worth $1,606,000 after acquiring an additional 2,986 shares during the last quarter. Hedge funds and other institutional investors own 83.46% of the company’s stock.

A number of research firms have recently commented on BAX. Credit Suisse Group increased their target price on shares of Baxter International from $84.00 to $95.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. BMO Capital Markets increased their target price on shares of Baxter International to $95.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Raymond James increased their target price on shares of Baxter International from $84.00 to $95.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Barclays set a $82.00 price objective on shares of Baxter International and gave the company a “hold” rating in a report on Friday, July 26th. Finally, Piper Jaffray Companies reiterated a “buy” rating on shares of Baxter International in a report on Tuesday, September 10th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $85.27.

NYSE BAX traded up $0.22 during trading hours on Friday, reaching $87.68. The company’s stock had a trading volume of 75,395 shares, compared to its average volume of 2,078,851. The firm has a fifty day simple moving average of $86.61 and a 200-day simple moving average of $80.53. The stock has a market cap of $44.71 billion, a P/E ratio of 28.73, a P/E/G ratio of 2.03 and a beta of 1.00. Baxter International Inc has a 52 week low of $61.05 and a 52 week high of $89.93. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.78 and a quick ratio of 2.10.

Baxter International (NYSE:BAX) last issued its quarterly earnings data on Thursday, July 25th. The medical instruments supplier reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.08. The business had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.80 billion. Baxter International had a net margin of 14.28% and a return on equity of 21.21%. The firm’s quarterly revenue was down .1% on a year-over-year basis. During the same quarter last year, the business earned $0.77 EPS. On average, research analysts expect that Baxter International Inc will post 3.37 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, August 30th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date of this dividend is Thursday, August 29th. Baxter International’s dividend payout ratio is presently 28.85%.

In other Baxter International news, Director James R. Gavin III sold 7,950 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $87.63, for a total transaction of $696,658.50. Following the completion of the sale, the director now owns 40,932 shares of the company’s stock, valued at approximately $3,586,871.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Jacqueline Kunzler sold 5,934 shares of the stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $88.12, for a total transaction of $522,904.08. Following the sale, the senior vice president now directly owns 3,089 shares of the company’s stock, valued at approximately $272,202.68. The disclosure for this sale can be found here. Insiders have sold a total of 14,064 shares of company stock valued at $1,235,359 in the last three months. Insiders own 0.70% of the company’s stock.

Baxter International Profile

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.

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

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