ARP Americas LP Acquires New Shares in Baxter International Inc (NYSE:BAX)

ARP Americas LP acquired a new stake in Baxter International Inc (NYSE:BAX) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 8,978 shares of the medical instruments supplier’s stock, valued at approximately $773,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Huntington National Bank increased its position in shares of Baxter International by 6.1% in the 2nd quarter. Huntington National Bank now owns 569,062 shares of the medical instruments supplier’s stock valued at $48,996,000 after buying an additional 32,826 shares in the last quarter. Chartwell Investment Partners LLC bought a new stake in shares of Baxter International in the 2nd quarter valued at $598,000. State of Michigan Retirement System increased its position in shares of Baxter International by 11.0% in the 2nd quarter. State of Michigan Retirement System now owns 129,955 shares of the medical instruments supplier’s stock valued at $11,189,000 after buying an additional 12,833 shares in the last quarter. Duality Advisers LP bought a new stake in shares of Baxter International in the 2nd quarter valued at $3,251,000. Finally, Everett Harris & Co. CA increased its position in shares of Baxter International by 2.2% in the 2nd quarter. Everett Harris & Co. CA now owns 615,237 shares of the medical instruments supplier’s stock valued at $52,972,000 after buying an additional 13,161 shares in the last quarter. Institutional investors and hedge funds own 83.74% of the company’s stock.

Shares of NYSE BAX traded up $0.37 during mid-day trading on Friday, hitting $86.38. The company had a trading volume of 4,038,182 shares, compared to its average volume of 2,544,913. Baxter International Inc has a one year low of $69.10 and a one year high of $95.19. The company has a market capitalization of $43.81 billion, a PE ratio of 26.10, a price-to-earnings-growth ratio of 2.75 and a beta of 0.84. The firm has a 50-day simple moving average of $86.00 and a two-hundred day simple moving average of $86.95. 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 issued its earnings results on Thursday, July 30th. The medical instruments supplier reported $0.64 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 during the quarter, compared to analyst estimates of $2.86 billion. During the same quarter last year, the business posted $0.89 earnings per share. The company’s revenue for the quarter was down 4.3% on a year-over-year basis. Sell-side analysts expect that Baxter International Inc will post 3.05 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Monday, August 31st will be paid a $0.245 dividend. The ex-dividend date is Friday, August 28th. This represents a $0.98 annualized dividend and a yield of 1.13%. Baxter International’s dividend payout ratio (DPR) is currently 29.61%.

BAX has been the subject of a number of recent analyst reports. Oppenheimer restated a “buy” rating on shares of Baxter International in a research report on Thursday. Raymond James lowered their target price on Baxter International from $97.00 to $95.00 and set an “outperform” rating for the company in a report on Friday. TheStreet upgraded Baxter International from a “c+” rating to a “b+” rating in a report on Thursday, April 30th. Morgan Stanley lowered their target price on Baxter International from $95.00 to $90.00 and set an “equal weight” rating for the company in a report on Friday. Finally, Piper Sandler increased their target price on Baxter International from $90.00 to $100.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. One 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. Baxter International currently has an average rating of “Buy” and a consensus price target of $96.72.

In other Baxter International news, Director John D. Forsyth sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $82.95, for a total transaction of $124,425.00. Following the completion of the sale, the director now directly owns 35,398 shares in the company, valued at $2,936,264.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Andrew Frye sold 3,742 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $91.00, for a total transaction of $340,522.00. Following the sale, the senior vice president now owns 16,216 shares of the company’s stock, valued at $1,475,656. The disclosure for this sale can be found here. Insiders sold a total of 77,583 shares of company stock valued at $6,613,932 over the last quarter. 0.13% of the stock is currently owned by company insiders.

Baxter International Company 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.

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

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