AQR Capital Management LLC Sells 424,680 Shares of Baxter International Inc (NYSE:BAX)

Share on StockTwits

AQR Capital Management LLC lessened its holdings in shares of Baxter International Inc (NYSE:BAX) by 10.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,627,140 shares of the medical instruments supplier’s stock after selling 424,680 shares during the quarter. AQR Capital Management LLC owned approximately 0.71% of Baxter International worth $295,611,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Cornerstone Advisors Inc. lifted its holdings in Baxter International by 6.7% in the first quarter. Cornerstone Advisors Inc. now owns 2,717 shares of the medical instruments supplier’s stock worth $221,000 after acquiring an additional 170 shares during the last quarter. Great Lakes Advisors LLC acquired a new position in shares of Baxter International during the first quarter valued at approximately $761,000. National Asset Management Inc. increased its stake in shares of Baxter International by 20.4% during the first quarter. National Asset Management Inc. now owns 4,026 shares of the medical instruments supplier’s stock valued at $328,000 after acquiring an additional 683 shares during the period. BP PLC increased its stake in shares of Baxter International by 202.0% during the first quarter. BP PLC now owns 151,000 shares of the medical instruments supplier’s stock valued at $12,281,000 after acquiring an additional 101,000 shares during the period. Finally, Hartford Financial Management Inc. grew its position in Baxter International by 6.1% in the first quarter. Hartford Financial Management Inc. now owns 15,850 shares of the medical instruments supplier’s stock worth $1,289,000 after buying an additional 916 shares during the last quarter. 83.44% of the stock is currently owned by institutional investors.

NYSE:BAX traded up $0.42 during trading hours on Friday, hitting $88.03. The stock had a trading volume of 2,116,085 shares, compared to its average volume of 2,609,292. Baxter International Inc has a one year low of $61.05 and a one year high of $89.93. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.10 and a current ratio of 2.78. The company has a market cap of $44.94 billion, a price-to-earnings ratio of 28.86, a P/E/G ratio of 2.01 and a beta of 0.99. The business’s 50 day moving average is $87.00 and its 200-day moving average is $81.69.

Baxter International (NYSE:BAX) last released its quarterly earnings results on Thursday, July 25th. The medical instruments supplier reported $0.89 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.08. The company had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.80 billion. Baxter International had a net margin of 14.28% and a return on equity of 21.21%. The business’s quarterly revenue was down .1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.77 earnings per share. On average, sell-side analysts anticipate that Baxter International Inc will post 3.37 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, August 30th were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date of this dividend was Thursday, August 29th. Baxter International’s dividend payout ratio is 28.85%.

A number of equities analysts recently commented on BAX shares. BMO Capital Markets raised their price objective on shares of Baxter International to $95.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. JPMorgan Chase & Co. set a $94.00 price objective on shares of Baxter International and gave the stock a “buy” rating in a report on Tuesday. ValuEngine lowered shares of Baxter International from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Barclays set a $82.00 target price on shares of Baxter International and gave the stock a “hold” rating in a research report on Friday, July 26th. Finally, Wells Fargo & Co set a $95.00 target price on shares of Baxter International and gave the stock a “buy” rating in a research report on Friday, July 26th. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Baxter International has an average rating of “Buy” and a consensus target price of $85.67.

In related news, Director James R. Gavin III sold 7,950 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $87.63, for a total value of $696,658.50. Following the transaction, the director now directly owns 40,932 shares of the company’s stock, valued at approximately $3,586,871.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Jacqueline Kunzler sold 5,934 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $88.12, for a total transaction of $522,904.08. Following the sale, the senior vice president now directly owns 3,089 shares in the company, valued at $272,202.68. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 14,064 shares of company stock worth $1,235,359. 0.70% of the stock is owned by 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.

Featured Story: Percentage Gainers

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.