Today, Baxter International Inc. (BAX) Position Increased by Nordea Investment Management AB

Today, Baxter International Inc. (BAX) Position Increased by Nordea Investment Management AB
Nordea Investment Management AB boosted its stake in shares of Baxter International Inc. (NYSE:BAX) by 5.6% during the third quarter, Holdings Channel reports. The fund owned 24,235 shares of the company’s stock after buying an additional 1,288 shares during the period. Nordea Investment Management AB’s holdings in Baxter International were worth $1,154,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Hartford Financial Management Inc. raised its position in Baxter International by 0.4% in the third quarter. Hartford Financial Management Inc. now owns 14,500 shares of the company’s stock valued at $690,000 after buying an additional 57 shares during the last quarter. Trust Department MB Financial Bank N A raised its position in Baxter International by 4.1% in the second quarter. Trust Department MB Financial Bank N A now owns 1,746 shares of the company’s stock valued at $122,000 after buying an additional 68 shares during the last quarter. Checchi Capital Advisers LLC raised its position in Baxter International by 1.9% in the second quarter. Checchi Capital Advisers LLC now owns 4,333 shares of the company’s stock valued at $196,000 after buying an additional 81 shares during the last quarter. IFP Advisors Inc raised its position in Baxter International by 0.5% in the second quarter. IFP Advisors Inc now owns 18,075 shares of the company’s stock valued at $817,000 after buying an additional 95 shares during the last quarter. Finally, Cleararc Capital Inc. raised its position in Baxter International by 1.0% in the second quarter. Cleararc Capital Inc. now owns 12,530 shares of the company’s stock valued at $567,000 after buying an additional 120 shares during the last quarter. Institutional investors and hedge funds own 86.14% of the company’s stock.

Shares of Baxter International Inc. (NYSE:BAX) traded up 0.34% during midday trading on Friday, reaching $46.72. 1,117,020 shares of the company’s stock were exchanged. Baxter International Inc. has a 12-month low of $34.06 and a 12-month high of $50.16. The firm has a 50-day moving average of $47.27 and a 200-day moving average of $46.44. The stock has a market capitalization of $25.41 billion, a P/E ratio of 5.23 and a beta of 0.88.

Baxter International (NYSE:BAX) last issued its quarterly earnings results on Tuesday, October 25th. The company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.11. Baxter International had a net margin of 48.68% and a return on equity of 11.43%. The company earned $2.56 billion during the quarter, compared to analysts’ expectations of $2.67 billion. During the same period last year, the company posted $0.41 EPS. Baxter International’s revenue was up 2.9% on a year-over-year basis. Analysts anticipate that Baxter International Inc. will post $1.91 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 3rd. Investors of record on Friday, December 2nd will be given a dividend of $0.13 per share. The ex-dividend date is Wednesday, November 30th. This represents a $0.52 dividend on an annualized basis and a yield of 1.11%. Baxter International’s dividend payout ratio (DPR) is currently 5.83%.

Several equities analysts have recently weighed in on the stock. Argus reiterated a “hold” rating on shares of Baxter International in a report on Monday, August 15th. Zacks Investment Research upgraded shares of Baxter International from a “hold” rating to a “buy” rating and set a $53.00 price objective on the stock in a report on Thursday, October 13th. RBC Capital Markets reiterated a “sector perform” rating and set a $55.00 price objective (up previously from $50.00) on shares of Baxter International in a report on Wednesday, October 26th. Royal Bank Of Canada upped their price objective on shares of Baxter International from $50.00 to $55.00 and gave the company a “sector perform” rating in a report on Wednesday, October 26th. Finally, Wells Fargo & Co. assumed coverage on shares of Baxter International in a report on Thursday, October 13th. They set an “outperform” rating on the stock. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $51.30.

About Baxter International

Baxter International Inc, through its subsidiaries, provides a portfolio of essential renal and hospital products, including home, acute and in-center dialysis; sterile intravenous (IV) solutions; infusion systems and devices; parenteral nutrition; biosurgery products and anesthetics, and pharmacy automation, software and services.

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