Axa S.A. Reduces Holdings in Baxter International Inc. (NYSE:BAX)

Posted by Defense World Staff on Feb 26th, 2023

Axa S.A. trimmed its position in shares of Baxter International Inc. (NYSE:BAX – Get Rating) by 41.3% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 75,596 shares of the medical instruments supplier’s stock after selling 53,220 shares during the quarter. Axa S.A.’s holdings in Baxter International were worth $4,071,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Old North State Trust LLC purchased a new position in Baxter International during the third quarter worth $37,000. Cowa LLC purchased a new position in Baxter International during the third quarter worth $40,000. CoreCap Advisors LLC purchased a new position in Baxter International during the second quarter worth $43,000. Motco boosted its stake in Baxter International by 73.1% during the third quarter. Motco now owns 947 shares of the medical instruments supplier’s stock worth $51,000 after buying an additional 400 shares during the period. Finally, Hallmark Capital Management Inc. boosted its stake in Baxter International by 235.3% during the third quarter. Hallmark Capital Management Inc. now owns 1,425 shares of the medical instruments supplier’s stock worth $77,000 after buying an additional 1,000 shares during the period. 84.84% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Baxter International news, SVP Jacqueline Kunzler sold 3,813 shares of the business’s stock in a transaction dated Tuesday, February 21st. The shares were sold at an average price of $40.50, for a total value of $154,426.50. Following the completion of the transaction, the senior vice president now directly owns 16,725 shares in the company, valued at $677,362.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, SVP Jeanne K. Mason sold 59,477 shares of the company’s stock in a transaction dated Tuesday, January 17th. The shares were sold at an average price of $44.70, for a total transaction of $2,658,621.90. Following the transaction, the senior vice president now owns 126,231 shares in the company, valued at $5,642,525.70. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Jacqueline Kunzler sold 3,813 shares of the company’s stock in a transaction dated Tuesday, February 21st. The shares were sold at an average price of $40.50, for a total transaction of $154,426.50. Following the transaction, the senior vice president now owns 16,725 shares in the company, valued at approximately $677,362.50. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by corporate insiders.

Baxter International Stock Performance

BAX stock opened at $40.16 on Friday. The company has a debt-to-equity ratio of 2.58, a current ratio of 1.69 and a quick ratio of 1.12. The business has a 50-day moving average price of $45.75 and a 200 day moving average price of $52.29. The company has a market capitalization of $20.27 billion, a P/E ratio of -8.31, a PEG ratio of 2.54 and a beta of 0.54. Baxter International Inc. has a 1-year low of $38.58 and a 1-year high of $86.96.

Baxter International (NYSE:BAX – Get Rating) last announced its earnings results on Thursday, February 9th. The medical instruments supplier reported $0.88 EPS for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.06). The firm had revenue of $3.89 billion during the quarter, compared to the consensus estimate of $3.77 billion. Baxter International had a positive return on equity of 24.03% and a negative net margin of 16.10%. The business’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.04 earnings per share. As a group, equities research analysts forecast that Baxter International Inc. will post 2.84 EPS for the current fiscal year.

Baxter International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 3rd. Shareholders of record on Friday, February 24th will be issued a $0.29 dividend. The ex-dividend date of this dividend is Thursday, February 23rd. This represents a $1.16 dividend on an annualized basis and a yield of 2.89%. Baxter International’s dividend payout ratio is presently -24.02%.

Wall Street Analysts Forecast Growth

BAX has been the subject of several recent analyst reports. JPMorgan Chase & Co. lowered shares of Baxter International from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $68.00 to $55.00 in a research note on Monday, December 19th. Barclays lowered their target price on shares of Baxter International from $63.00 to $54.00 and set an “overweight” rating for the company in a research note on Monday, February 13th. KeyCorp lowered their target price on shares of Baxter International from $73.00 to $60.00 and set an “overweight” rating for the company in a research note on Monday, February 6th. Wells Fargo & Company lowered their target price on shares of Baxter International from $52.00 to $43.00 and set an “equal weight” rating for the company in a research note on Friday, February 10th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Baxter International from a “buy” rating to a “hold” rating and lowered their target price for the company from $69.00 to $51.00 in a research note on Thursday, December 15th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $55.14.

Baxter International Company Profile

(Get Rating)

Baxter International, Inc engages in the provision of a portfolio of essential healthcare products including acute and chronic dialysis therapies, sterile intravenous (IV) solutions, infusion systems and devices, parenteral nutrition therapies, inhaled anesthetics, generic injectable pharmaceuticals, surgical hemostat and sealant products, surgical equipment, smart bed systems, patient monitoring and diagnostic technologies, and respiratory health devices.