As of its most recent filing with the Securities & Exchange Commission, Neuberger Berman Group LLC has reduced its position in medical instruments supplier Baxter International Inc. (NYSE:BAX) by 23.2%. The institutional investor now holds 45,459 shares after selling 13,768 shares during the period, with a worth of $2,317,000. This decision has come at a time when the company also recently declared a quarterly dividend to be paid on July 3rd with an ex-dividend date of June 1st. Investors of record on June 2nd will be paid a dividend of $0.29 per share amounting to a $1.16 annualized dividend and a yield of 2.72% for Baxter International’s payout ratio which is currently -23.77%.
However, it seems that Director Albert P.L Stroucken may have had different plans as he reportedly sold 3,930 shares in the company totaling $147,453.60 back in March. Following this transaction, Stroucken still owned approximately 36,835 shares valued at approximately $1,382,049.20.
These series of movements showcase potential shifts within Baxter International Inc.’s financial backing and investors’ reactions towards it- particularly Neuberger Berman Group LLC’s significant reduction in holdings amidst the announcement of dividend payouts.While these shifts may signal changes that could benefit or hinder growth opportunities for Baxter Internationals down the road,it remains interesting to note how investors react to such movements within corporations in their respective markets; only time will tell how impactful these events will prove to be on the organization’s future standing within its sector as well as among stakeholder interests and expectations for returns over time.
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Baxter International: A Profitable Investment for Institutional Investors
Baxter International: A Promising Investment Opportunity for Institutional Investors
Institutional investors and hedge funds have increasingly shown interest in medical instruments supplier, Baxter International (NYSE:BAX). These investors have bought and sold shares of the company, with CoreCap Advisors LLC acquiring a new position during the 4th quarter valued at about $27,000. Horizon Bancorp Inc. IN also purchased shares of Baxter International in the same quarter valued at approximately $39,000. Additionally, RFP Financial Group LLC acquired a new stake in the company worth $41,000 during the same period.
Almanack Investment Partners LLC also expressed estimated value by acquiring a new position in Baxter International during the 3rd quarter worth approximately $63,000. In addition, EverSource Wealth Advisors LLC raised its holdings in shares of Baxter International by 97.4% in the fourth quarter and now owns 1,567 shares of stock worth $80,000 after buying an additional 773 shares during that period. To cap it off, hedge funds and other institutional investors own around 84.84% of the stock.
The rising interest from institutional investors is reflected through several reports which have been recently issued on Baxter International. Stifel Nicolaus even raised their target price on Baxter from $45.00 to $54.00 while Deutsche Bank Aktiengesellschaft upped their price target from $40 to $50.
Despite one equity research analyst rating the stock as “sell”, ten giving it a “hold” rating and four providing it with a buy rating; Bloomberg.com shows that the average target price is set around $52.38.
The medical instruments supplier also recently declared a quarterly dividend payable this coming July 3rd to investors of record last June 2nd who will receive a share of the dividend amounting to$0.29 per share.
Meanwhile, reaching up to$42.72 with traded shares amounting to 814,961 shares as compared to its average volume of 6,066,904 shares, Baxter International currently has a fifty-two week low of $37.35 and a fifty-two week high of $72.65.
Overall, Baxter International’s recent announcement, earned profits and attractive dividend payouts make it an encouraging investment opportunity for institutional investors.
