Trillium Asset Management LLC Boosts Stake in Baxter International Inc (BAX)

Trillium Asset Management LLC raised its stake in Baxter International Inc (NYSE:BAX) by 1.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 102,100 shares of the medical instruments supplier’s stock after acquiring an additional 1,919 shares during the quarter. Trillium Asset Management LLC’s holdings in Baxter International were worth $8,302,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Horrell Capital Management Inc. increased its position in Baxter International by 0.4% during the 1st quarter. Horrell Capital Management Inc. now owns 31,167 shares of the medical instruments supplier’s stock valued at $2,534,000 after purchasing an additional 138 shares during the period. Brookmont Capital Management increased its position in Baxter International by 3.7% during the 4th quarter. Brookmont Capital Management now owns 4,048 shares of the medical instruments supplier’s stock valued at $266,000 after purchasing an additional 146 shares during the period. Parsons Capital Management Inc. RI increased its position in Baxter International by 0.4% during the 1st quarter. Parsons Capital Management Inc. RI now owns 33,782 shares of the medical instruments supplier’s stock valued at $2,747,000 after purchasing an additional 146 shares during the period. Sullivan Bruyette Speros & Blaney LLC increased its position in Baxter International by 3.6% during the 4th quarter. Sullivan Bruyette Speros & Blaney LLC now owns 4,322 shares of the medical instruments supplier’s stock valued at $284,000 after purchasing an additional 150 shares during the period. Finally, Nachman Norwood & Parrott Inc increased its position in Baxter International by 4.8% during the 1st quarter. Nachman Norwood & Parrott Inc now owns 3,269 shares of the medical instruments supplier’s stock valued at $266,000 after purchasing an additional 150 shares during the period. 86.12% of the stock is owned by hedge funds and other institutional investors.

In related news, Director Thomas T. Stallkamp sold 1,000 shares of Baxter International stock in a transaction on Friday, March 1st. The shares were sold at an average price of $75.16, for a total value of $75,160.00. Following the completion of the sale, the director now owns 6,780 shares of the company’s stock, valued at approximately $509,584.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director John D. Forsyth sold 1,500 shares of Baxter International stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $75.92, for a total transaction of $113,880.00. Following the completion of the sale, the director now directly owns 31,703 shares of the company’s stock, valued at approximately $2,406,891.76. The disclosure for this sale can be found here. In the last three months, insiders sold 57,187 shares of company stock valued at $4,447,619. 0.70% of the stock is currently owned by insiders.

NYSE BAX traded up $0.85 during mid-day trading on Thursday, hitting $76.79. The company’s stock had a trading volume of 89,542 shares, compared to its average volume of 3,043,629. Baxter International Inc has a twelve month low of $61.05 and a twelve month high of $82.25. The company has a current ratio of 1.83, a quick ratio of 1.30 and a debt-to-equity ratio of 0.50. The company has a market cap of $38.49 billion, a P/E ratio of 25.19, a PEG ratio of 1.78 and a beta of 0.96.

Baxter International (NYSE:BAX) last posted its quarterly earnings results on Thursday, April 25th. The medical instruments supplier reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.08. Baxter International had a net margin of 14.27% and a return on equity of 20.04%. The business had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.61 billion. During the same quarter last year, the firm posted $0.70 EPS. Baxter International’s revenue was down 1.7% compared to the same quarter last year. Sell-side analysts predict that Baxter International Inc will post 3.32 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 7th will be given a $0.22 dividend. The ex-dividend date is Thursday, June 6th. This represents a $0.88 annualized dividend and a yield of 1.15%. This is an increase from Baxter International’s previous quarterly dividend of $0.19. Baxter International’s dividend payout ratio (DPR) is presently 24.92%.

BAX has been the subject of a number of recent analyst reports. Zacks Investment Research raised shares of Baxter International from a “hold” rating to a “buy” rating and set a $86.00 target price for the company in a research report on Wednesday, April 24th. Barclays raised shares of Baxter International from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $67.00 to $72.00 in a research report on Friday, February 1st. Cowen set a $75.00 price objective on shares of Baxter International and gave the stock a “hold” rating in a research report on Monday, April 22nd. Wells Fargo & Co raised their price objective on shares of Baxter International from $80.00 to $89.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 3rd. Finally, JPMorgan Chase & Co. raised their price objective on shares of Baxter International from $80.00 to $88.00 and gave the stock an “overweight” rating in a research report on Monday. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $78.69.

TRADEMARK VIOLATION WARNING: This story was first reported by Stock Observer and is owned by of Stock Observer. If you are accessing this story on another publication, it was illegally stolen and reposted in violation of US & international trademark & copyright laws. The legal version of this story can be viewed at https://www.thestockobserver.com/2019/05/16/trillium-asset-management-llc-boosts-stake-in-baxter-international-inc-bax.html.

About Baxter International

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.

Read More: Special Dividends

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.