Baron Silver Stevens Financial Advisors LLC bought a new stake in Baxter International Inc. (NYSE:BAX) in the fourth quarter, Holdings Channel.com reports. The institutional investor bought 424 shares of the medical instruments supplier’s stock, valued at approximately $34,000.
Other hedge funds have also recently bought and sold shares of the company. ForthRight Wealth Management LLC bought a new position in shares of Baxter International in the fourth quarter valued at $37,000. Navis Wealth Advisors LLC bought a new stake in shares of Baxter International in the 4th quarter worth $46,000. Ellevest Inc. raised its holdings in shares of Baxter International by 81.4% in the fourth quarter. Ellevest Inc. now owns 604 shares of the medical instruments supplier’s stock valued at $48,000 after purchasing an additional 271 shares during the last quarter. Sittner & Nelson LLC bought a new position in shares of Baxter International during the fourth quarter valued at about $48,000. Finally, Vestor Capital LLC purchased a new position in Baxter International during the fourth quarter worth about $52,000. 82.89% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director Albert P. L. Stroucken sold 4,990 shares of the stock in a transaction on Monday, April 5th. The shares were sold at an average price of $84.56, for a total value of $421,954.40. Following the transaction, the director now owns 36,886 shares of the company’s stock, valued at approximately $3,119,080.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.13% of the stock is owned by insiders.
Baxter International (NYSE:BAX) last released its quarterly earnings results on Wednesday, February 3rd. The medical instruments supplier reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.04. Baxter International had a return on equity of 20.81% and a net margin of 7.90%. The firm had revenue of $3.18 billion for the quarter, compared to analysts’ expectations of $3.10 billion. During the same quarter last year, the firm posted $0.97 EPS. The company’s revenue was up 4.7% compared to the same quarter last year. On average, sell-side analysts forecast that Baxter International Inc. will post 3.04 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, April 1st. Shareholders of record on Friday, February 26th were given a dividend of $0.245 per share. The ex-dividend date of this dividend was Thursday, February 25th. This represents a $0.98 annualized dividend and a yield of 1.16%. Baxter International’s payout ratio is presently 29.61%.
Several equities analysts have commented on the stock. Oppenheimer reissued a “buy” rating on shares of Baxter International in a research report on Thursday, March 18th. Piper Sandler cut Baxter International from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $100.00 to $80.00 in a research report on Friday, January 29th. Morgan Stanley raised their target price on Baxter International from $84.00 to $90.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 15th. UBS Group lowered shares of Baxter International from a “buy” rating to a “neutral” rating and reduced their price target for the company from $95.00 to $85.00 in a research report on Wednesday, January 6th. Finally, The Goldman Sachs Group cut shares of Baxter International from a “buy” rating to a “neutral” rating and dropped their target price for the company from $96.00 to $85.00 in a research note on Tuesday, December 15th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $91.87.
About Baxter International
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; 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: Are sell-side analysts objective?
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).
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.