Raymond James Financial Services Advisors Inc. Increases Position in Baxter International Inc. (BAX)

Raymond James Financial Services Advisors Inc. increased its position in shares of Baxter International Inc. (NYSE:BAX) by 34.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 90,975 shares of the medical instruments supplier’s stock after buying an additional 23,184 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Baxter International were worth $4,718,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Reilly Financial Advisors LLC raised its position in shares of Baxter International by 20.4% in the first quarter. Reilly Financial Advisors LLC now owns 2,054 shares of the medical instruments supplier’s stock worth $107,000 after buying an additional 348 shares during the period. Quadrant Capital Group LLC raised its position in shares of Baxter International by 1.3% in the first quarter. Quadrant Capital Group LLC now owns 2,344 shares of the medical instruments supplier’s stock worth $113,000 after buying an additional 31 shares during the period. Benjamin F. Edwards & Company Inc. raised its position in shares of Baxter International by 6.1% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 2,533 shares of the medical instruments supplier’s stock worth $131,000 after buying an additional 145 shares during the period. Bronfman E.L. Rothschild L.P. raised its position in shares of Baxter International by 3.9% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,776 shares of the medical instruments supplier’s stock worth $144,000 after buying an additional 103 shares during the period. Finally, Trust Co. of Vermont raised its position in shares of Baxter International by 8.7% in the first quarter. Trust Co. of Vermont now owns 3,282 shares of the medical instruments supplier’s stock worth $170,000 after buying an additional 262 shares during the period. Institutional investors and hedge funds own 84.20% of the company’s stock.

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

Shares of Baxter International Inc. (NYSE:BAX) opened at 57.93 on Friday. The stock’s 50 day moving average is $57.63 and its 200-day moving average is $51.04. The company has a market cap of $31.49 billion, a P/E ratio of 17.14 and a beta of 0.68. Baxter International Inc. has a one year low of $42.22 and a one year high of $60.45.

Baxter International (NYSE:BAX) last issued its quarterly earnings data on Wednesday, April 26th. The medical instruments supplier reported $0.58 EPS for the quarter, beating the consensus estimate of $0.51 by $0.07. The company had revenue of $2.48 billion during the quarter, compared to analysts’ expectations of $2.43 billion. Baxter International had a net margin of 18.09% and a return on equity of 14.03%. Baxter International’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.36 earnings per share. Equities research analysts forecast that Baxter International Inc. will post $2.27 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 3rd. Investors of record on Friday, June 2nd will be paid a dividend of $0.16 per share. The ex-dividend date is Wednesday, May 31st. This represents a $0.64 annualized dividend and a yield of 1.10%. This is a boost from Baxter International’s previous quarterly dividend of $0.13. Baxter International’s payout ratio is currently 19.05%.

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BAX has been the topic of a number of analyst reports. Barclays PLC increased their target price on shares of Baxter International from $62.00 to $64.00 and gave the stock an “overweight” rating in a research report on Wednesday. BMO Capital Markets restated a “hold” rating and set a $55.00 target price on shares of Baxter International in a research report on Thursday, April 27th. Royal Bank Of Canada increased their target price on shares of Baxter International from $55.00 to $58.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 27th. Morgan Stanley increased their target price on shares of Baxter International from $48.00 to $52.00 and gave the stock an “underweight” rating in a research report on Friday, April 28th. Finally, Goldman Sachs Group, Inc. (The) restated a “conviction-buy” rating and set a $71.00 target price on shares of Baxter International in a research report on Tuesday, May 16th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, four have given a buy rating and two have assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $59.45.

In related news, Director Albert P. L. Stroucken sold 4,280 shares of the business’s stock in a transaction that occurred on Monday, April 10th. The shares were sold at an average price of $52.80, for a total transaction of $225,984.00. Following the completion of the transaction, the director now owns 25,667 shares of the company’s stock, valued at $1,355,217.60. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Brik V. Eyre sold 130,732 shares of the business’s stock in a transaction that occurred on Monday, May 8th. The shares were sold at an average price of $55.69, for a total transaction of $7,280,465.08. Following the transaction, the senior vice president now directly owns 49,966 shares of the company’s stock, valued at approximately $2,782,606.54. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 145,670 shares of company stock valued at $8,089,592. 0.05% of the stock is owned by corporate insiders.

About Baxter International

Baxter International Inc, through its subsidiaries, provides renal and hospital products. The Company operates through two segments: Hospital Products and Renal. Its Hospital Products business manufactures sterile intravenous (IV) solutions and administration sets, premixed drugs and drug-reconstitution systems, pre-filled vials and syringes for injectable drugs, IV nutrition products, parenteral nutrition therapies, infusion pumps, inhalation anesthetics and biosurgery products.

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