Advisor Partners LLC Boosts Stake in Baxter International Inc. (BAX)

Advisor Partners LLC Boosts Stake in Baxter International Inc. (BAX)

Advisor Partners LLC increased its stake in Baxter International Inc. (NYSE:BAX) by 1.9% during the third quarter, Holdings Channel reports. The institutional investor owned 13,097 shares of the company’s stock after buying an additional 247 shares during the period. Advisor Partners LLC’s holdings in Baxter International were worth $623,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of BAX. Stillwater Investment Management LLC increased its position in shares of Baxter International by 3.0% in the third quarter. Stillwater Investment Management LLC now owns 19,967 shares of the company’s stock valued at $950,000 after buying an additional 588 shares in the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH increased its position in shares of Baxter International by 6,732.0% in the third quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 539,731 shares of the company’s stock valued at $25,343,000 after buying an additional 531,831 shares in the last quarter. Palisade Asset Management LLC increased its position in shares of Baxter International by 2.6% in the third quarter. Palisade Asset Management LLC now owns 141,649 shares of the company’s stock valued at $6,742,000 after buying an additional 3,650 shares in the last quarter. LMR Partners LLP increased its position in shares of Baxter International by 653.8% in the third quarter. LMR Partners LLP now owns 170,728 shares of the company’s stock valued at $8,126,000 after buying an additional 148,079 shares in the last quarter. Finally, Meeder Asset Management Inc. increased its position in shares of Baxter International by 121.0% in the third quarter. Meeder Asset Management Inc. now owns 79,177 shares of the company’s stock valued at $3,767,000 after buying an additional 43,345 shares in the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Shares of Baxter International Inc. (NYSE:BAX) traded up 0.65% during mid-day trading on Friday, reaching $46.35. 458,658 shares of the company were exchanged. Baxter International Inc. has a 12 month low of $35.54 and a 12 month high of $50.16. The firm’s 50-day moving average is $45.29 and its 200-day moving average is $46.65. The company has a market capitalization of $25.21 billion, a price-to-earnings ratio of 5.19 and a beta of 0.82.

Baxter International (NYSE:BAX) last issued its quarterly earnings results on Tuesday, October 25th. The company reported $0.56 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.11. The business earned $2.56 billion during the quarter, compared to the consensus estimate of $2.67 billion. Baxter International had a net margin of 48.68% and a return on equity of 11.43%. The firm’s quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.41 EPS. On average, equities analysts forecast that Baxter International Inc. will post $1.91 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 3rd. Investors of record on Friday, December 2nd were given a $0.13 dividend. The ex-dividend date was Wednesday, November 30th. This represents a $0.52 annualized dividend and a dividend yield of 1.13%. Baxter International’s dividend payout ratio (DPR) is presently 5.83%.

Several research analysts have weighed in on the company. Zacks Investment Research downgraded Baxter International from a “buy” rating to a “hold” rating in a report on Monday, October 17th. Evercore ISI reiterated a “buy” rating and issued a $56.00 price target (up from $52.00) on shares of Baxter International in a report on Wednesday, October 26th. Wells Fargo & Company assumed coverage on Baxter International in a report on Thursday, October 13th. They issued an “outperform” rating for the company. Royal Bank Of Canada boosted their price target on Baxter International from $50.00 to $55.00 and gave the company a “sector perform” rating in a report on Wednesday, October 26th. Finally, RBC Capital Markets reiterated a “sector perform” rating and issued a $55.00 price target (up from $50.00) on shares of Baxter International in a report on Wednesday, October 26th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $51.30.

About Baxter International

Baxter International Inc, through its subsidiaries, provides a portfolio of essential renal and hospital products, including home, acute and in-center dialysis; sterile intravenous (IV) solutions; infusion systems and devices; parenteral nutrition; biosurgery products and anesthetics, and pharmacy automation, software and services.

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