DAVENPORT & Co LLC Has $671,000 Stock Holdings in Baxter International Inc (NYSE:BAX)

DAVENPORT & Co LLC grew its position in shares of Baxter International Inc (NYSE:BAX) by 3.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,791 shares of the medical instruments supplier’s stock after buying an additional 295 shares during the period. DAVENPORT & Co LLC’s holdings in Baxter International were worth $671,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. BlackRock Inc. increased its position in Baxter International by 1.2% during the 1st quarter. BlackRock Inc. now owns 41,287,129 shares of the medical instruments supplier’s stock worth $3,352,103,000 after buying an additional 491,703 shares during the period. Morgan Stanley increased its position in Baxter International by 7.6% during the 1st quarter. Morgan Stanley now owns 19,410,034 shares of the medical instruments supplier’s stock worth $1,575,901,000 after buying an additional 1,375,081 shares during the period. Veritas Asset Management LLP increased its position in Baxter International by 23.3% during the 1st quarter. Veritas Asset Management LLP now owns 8,952,949 shares of the medical instruments supplier’s stock worth $726,890,000 after buying an additional 1,689,300 shares during the period. Nuveen Asset Management LLC increased its position in Baxter International by 11.7% during the 1st quarter. Nuveen Asset Management LLC now owns 8,011,729 shares of the medical instruments supplier’s stock worth $650,473,000 after buying an additional 842,305 shares during the period. Finally, JPMorgan Chase & Co. increased its position in Baxter International by 1,291.7% during the 1st quarter. JPMorgan Chase & Co. now owns 7,935,879 shares of the medical instruments supplier’s stock worth $644,314,000 after buying an additional 7,365,663 shares during the period. Hedge funds and other institutional investors own 83.74% of the company’s stock.

Shares of BAX stock opened at $86.38 on Friday. The business’s 50-day moving average price is $86.00 and its 200-day moving average price is $86.95. Baxter International Inc has a 12 month low of $69.10 and a 12 month high of $95.19. The firm has a market capitalization of $43.81 billion, a price-to-earnings ratio of 26.74, a PEG ratio of 2.76 and a beta of 0.84. The company has a current ratio of 2.74, a quick ratio of 2.19 and a debt-to-equity ratio of 0.84.

Baxter International (NYSE:BAX) last announced its quarterly earnings results on Thursday, July 30th. The medical instruments supplier reported $0.64 EPS for the quarter, missing the Zacks’ consensus estimate of $0.71 by ($0.07). Baxter International had a net margin of 8.10% and a return on equity of 21.02%. The firm had revenue of $2.72 billion for the quarter, compared to analyst estimates of $2.86 billion. During the same period in the previous year, the business posted $0.89 earnings per share. The business’s revenue for the quarter was down 4.3% compared to the same quarter last year. On average, sell-side analysts predict that Baxter International Inc will post 3.07 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Monday, August 31st will be paid a dividend of $0.245 per share. This represents a $0.98 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date of this dividend is Friday, August 28th. Baxter International’s payout ratio is 29.61%.

Several research analysts have weighed in on the company. Morgan Stanley lowered their price objective on Baxter International from $95.00 to $90.00 and set an “equal weight” rating on the stock in a research report on Friday. JPMorgan Chase & Co. raised their price target on Baxter International from $94.00 to $96.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 28th. KeyCorp raised their price target on Baxter International from $92.00 to $98.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. UBS Group raised their price target on Baxter International from $95.00 to $103.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. Finally, Oppenheimer restated a “buy” rating on shares of Baxter International in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $96.72.

In related news, SVP Andrew Frye sold 3,742 shares of Baxter International stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $91.00, for a total value of $340,522.00. Following the transaction, the senior vice president now directly owns 16,216 shares of the company’s stock, valued at $1,475,656. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Giuseppe Accogli sold 72,341 shares of Baxter International stock in a transaction that occurred on Friday, June 19th. The stock was sold at an average price of $85.00, for a total value of $6,148,985.00. Following the completion of the transaction, the senior vice president now directly owns 76,473 shares in the company, valued at $6,500,205. The disclosure for this sale can be found here. Insiders have sold 77,583 shares of company stock worth $6,613,932 over the last three months. Insiders own 0.13% 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.

Featured Article: How can investors benefit from after-hours trading?

Want to see what other hedge funds are holding BAX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Baxter International Inc (NYSE:BAX).

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

Receive News & Ratings for Baxter International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Baxter International and related companies with MarketBeat.com's FREE daily email newsletter.