Hartford Financial Management Inc. increased its stake in shares of Baxter International Inc (NYSE:BAX) by 4.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 14,934 shares of the medical instruments supplier’s stock after purchasing an additional 617 shares during the quarter. Hartford Financial Management Inc.’s holdings in Baxter International were worth $983,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BAX. Gantzert Investment Co. LLC ADV bought a new position in Baxter International in the 4th quarter valued at $25,000. Baldwin Brothers Inc. MA grew its position in Baxter International by 904.0% in the 4th quarter. Baldwin Brothers Inc. MA now owns 502 shares of the medical instruments supplier’s stock valued at $33,000 after acquiring an additional 452 shares during the last quarter. We Are One Seven LLC bought a new position in Baxter International in the 4th quarter valued at $34,000. Financial Gravity Companies Inc. bought a new position in Baxter International in the 4th quarter valued at $45,000. Finally, CX Institutional grew its position in 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 acquiring an additional 684 shares during the last quarter. 83.42% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director Thomas T. Stallkamp sold 3,187 shares of the stock in a transaction on Friday, January 18th. The stock was sold at an average price of $70.00, for a total transaction of $223,090.00. Following the transaction, the director now owns 9,418 shares of the company’s stock, valued at approximately $659,260. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Thomas T. Stallkamp sold 1,638 shares of the stock in a transaction on Friday, February 1st. The stock was sold at an average price of $73.75, for a total value of $120,802.50. The disclosure for this sale can be found here. Insiders have sold a total of 8,055,348 shares of company stock worth $552,892,722 in the last three months. Corporate insiders own 0.07% of the company’s stock.
Shares of BAX traded up $0.39 during midday trading on Friday, reaching $71.50. 2,571,125 shares of the stock were exchanged, compared to its average volume of 3,213,831. Baxter International Inc has a 52 week low of $61.05 and a 52 week high of $78.38. The company has a current ratio of 2.60, a quick ratio of 1.96 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $38.05 billion, a price-to-earnings ratio of 23.44, a PEG ratio of 1.78 and a beta of 0.99.
Baxter International (NYSE:BAX) last posted its quarterly earnings results on Thursday, January 31st. The medical instruments supplier reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.05. Baxter International had a return on equity of 18.46% and a net margin of 14.60%. The business had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.80 billion. On average, equities research analysts predict that Baxter International Inc will post 3.27 EPS for the current year.
Baxter International declared that its board has initiated a share repurchase program on Tuesday, November 13th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the medical instruments supplier to reacquire up to 6.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its shares are undervalued.
Several equities analysts have commented on BAX shares. Morgan Stanley raised Baxter International from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $66.00 to $77.00 in a research report on Wednesday, January 2nd. Citigroup raised Baxter International from a “neutral” rating to a “buy” rating and upped their price objective for the company from $69.00 to $76.00 in a research report on Wednesday, January 2nd. Royal Bank of Canada cut their price objective on Baxter International from $76.00 to $70.00 and set a “sector perform” rating on the stock in a research report on Thursday, November 8th. UBS Group started coverage on Baxter International in a research report on Tuesday, November 27th. They issued a “buy” rating and a $80.00 price objective on the stock. Finally, Zacks Investment Research raised Baxter International from a “hold” rating to a “buy” rating and set a $74.00 price objective on the stock in a research report on Wednesday, January 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $76.41.
Baxter International Company Profile
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.
Further Reading: Price-Sales Ratio