DnB Asset Management AS Grows Position in Baxter International Inc. (NYSE:BAX)

DnB Asset Management AS lifted its holdings in shares of Baxter International Inc. (NYSE:BAXGet Rating) by 4.4% in the 2nd quarter, Holdings Channel reports. The firm owned 81,302 shares of the medical instruments supplier’s stock after acquiring an additional 3,452 shares during the period. DnB Asset Management AS’s holdings in Baxter International were worth $5,222,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Neuberger Berman Group LLC grew its stake in Baxter International by 2,202.6% in the 1st quarter. Neuberger Berman Group LLC now owns 1,650,719 shares of the medical instruments supplier’s stock worth $128,029,000 after buying an additional 1,579,029 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Baxter International by 6.6% during the 4th quarter. Geode Capital Management LLC now owns 8,719,597 shares of the medical instruments supplier’s stock worth $746,523,000 after acquiring an additional 540,182 shares during the last quarter. Tobam grew its position in Baxter International by 429.0% in the first quarter. Tobam now owns 239,478 shares of the medical instruments supplier’s stock worth $18,569,000 after acquiring an additional 194,205 shares in the last quarter. BNP Paribas Arbitrage SA increased its stake in Baxter International by 140.6% in the first quarter. BNP Paribas Arbitrage SA now owns 327,977 shares of the medical instruments supplier’s stock valued at $25,431,000 after acquiring an additional 191,637 shares during the last quarter. Finally, Cooke & Bieler LP lifted its stake in Baxter International by 21.3% during the first quarter. Cooke & Bieler LP now owns 1,087,095 shares of the medical instruments supplier’s stock worth $84,293,000 after purchasing an additional 191,250 shares during the last quarter. 84.69% of the stock is currently owned by institutional investors.

Baxter International Stock Performance

Shares of NYSE:BAX opened at $58.18 on Monday. The company has a current ratio of 2.01, a quick ratio of 1.33 and a debt-to-equity ratio of 1.83. The company has a 50-day moving average price of $60.51 and a 200-day moving average price of $69.11. The company has a market cap of $29.30 billion, a price-to-earnings ratio of 29.09, a price-to-earnings-growth ratio of 2.11 and a beta of 0.60. Baxter International Inc. has a 12 month low of $54.45 and a 12 month high of $89.70.

Baxter International (NYSE:BAXGet Rating) last released its quarterly earnings results on Thursday, July 28th. The medical instruments supplier reported $0.87 EPS for the quarter, meeting analysts’ consensus estimates of $0.87. Baxter International had a return on equity of 21.75% and a net margin of 7.12%. The business had revenue of $3.75 billion during the quarter, compared to analyst estimates of $3.88 billion. During the same quarter in the prior year, the company posted $0.80 EPS. Baxter International’s quarterly revenue was up 20.9% compared to the same quarter last year. As a group, equities analysts anticipate that Baxter International Inc. will post 3.63 EPS for the current year.

Baxter International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Friday, September 2nd will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 1.99%. The ex-dividend date is Thursday, September 1st. Baxter International’s dividend payout ratio (DPR) is currently 58.00%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on BAX shares. Cowen reduced their price objective on Baxter International from $95.00 to $70.00 in a research report on Friday, July 29th. Stifel Nicolaus decreased their price target on shares of Baxter International from $85.00 to $75.00 in a research note on Monday, July 18th. Wells Fargo & Company cut shares of Baxter International from an “overweight” rating to an “equal weight” rating and set a $71.00 price objective for the company. in a research note on Friday, June 24th. Cowen decreased their target price on shares of Baxter International from $95.00 to $70.00 in a research report on Friday, July 29th. Finally, JPMorgan Chase & Co. cut their price target on shares of Baxter International from $90.00 to $78.00 and set an “overweight” rating for the company in a research report on Friday, June 24th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $77.69.

About Baxter International

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Baxter International Inc, through its subsidiaries, develops and provides a portfolio of healthcare products worldwide. The company offers peritoneal dialysis and hemodialysis, and additional dialysis therapies and services; intravenous therapies, infusion pumps, administration sets, and drug reconstitution devices; remixed and oncology drug platforms, inhaled anesthesia and critical care products and pharmacy compounding services; parenteral nutrition therapies and related products; biological products and medical devices used in surgical procedures for hemostasis, tissue sealing and adhesion prevention; and continuous renal replacement therapies and other organ support therapies focused in the intensive care unit.

Further Reading

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

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