Allstate Corp Makes New $450,000 Investment in Baxter International Inc. (NYSE:BAX)

Allstate Corp bought a new position in shares of Baxter International Inc. (NYSE:BAX - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 15,420 shares of the medical instruments supplier's stock, valued at approximately $450,000.

Other institutional investors also recently modified their holdings of the company. CKW Financial Group boosted its holdings in shares of Baxter International by 19.3% during the 4th quarter. CKW Financial Group now owns 2,625 shares of the medical instruments supplier's stock valued at $77,000 after acquiring an additional 425 shares in the last quarter. LRI Investments LLC boosted its stake in shares of Baxter International by 60.8% during the third quarter. LRI Investments LLC now owns 1,560 shares of the medical instruments supplier's stock valued at $59,000 after purchasing an additional 590 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its stake in shares of Baxter International by 5.8% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 13,618 shares of the medical instruments supplier's stock valued at $397,000 after purchasing an additional 752 shares in the last quarter. CoreFirst Bank & Trust bought a new stake in shares of Baxter International during the fourth quarter worth about $26,000. Finally, Riverview Trust Co increased its stake in shares of Baxter International by 5,488.2% in the fourth quarter. Riverview Trust Co now owns 950 shares of the medical instruments supplier's stock valued at $28,000 after buying an additional 933 shares during the period. 90.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently commented on BAX shares. Argus upgraded shares of Baxter International from a "hold" rating to a "buy" rating in a research report on Monday, February 24th. Citigroup cut their price target on shares of Baxter International from $37.00 to $35.00 and set a "neutral" rating on the stock in a report on Wednesday, December 11th. JPMorgan Chase & Co. decreased their price objective on Baxter International from $38.00 to $36.00 and set a "neutral" rating for the company in a report on Friday, February 21st. The Goldman Sachs Group started coverage on Baxter International in a research report on Wednesday, February 26th. They set a "buy" rating and a $42.00 target price for the company. Finally, Barclays upped their price target on Baxter International from $39.00 to $41.00 and gave the company an "overweight" rating in a research report on Monday, March 10th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, Baxter International presently has an average rating of "Hold" and a consensus price target of $38.56.

Baxter International Trading Down 8.2 %

Baxter International stock traded down $2.58 during trading hours on Friday, reaching $28.77. 5,994,926 shares of the company's stock were exchanged, compared to its average volume of 4,405,622. The firm's 50 day simple moving average is $33.25 and its 200 day simple moving average is $33.36. Baxter International Inc. has a twelve month low of $28.34 and a twelve month high of $42.86. The company has a quick ratio of 1.09, a current ratio of 1.43 and a debt-to-equity ratio of 1.31. The firm has a market capitalization of $14.76 billion, a PE ratio of -22.48, a PEG ratio of 0.93 and a beta of 0.64.

Baxter International (NYSE:BAX - Get Free Report) last announced its earnings results on Thursday, February 20th. The medical instruments supplier reported $0.58 EPS for the quarter, beating the consensus estimate of $0.52 by $0.06. The company had revenue of $2.75 billion for the quarter, compared to analyst estimates of $2.67 billion. Baxter International had a positive return on equity of 16.67% and a negative net margin of 5.05%. Research analysts predict that Baxter International Inc. will post 2.48 earnings per share for the current year.

Baxter International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, February 28th were paid a $0.17 dividend. The ex-dividend date was Friday, February 28th. This represents a $0.68 annualized dividend and a dividend yield of 2.36%. Baxter International's dividend payout ratio is currently -53.13%.

Baxter International Profile

Baxter International Inc, through its subsidiaries, develops and provides a portfolio of healthcare products worldwide. The company operates through four segments: Medical Products and Therapies, Healthcare Systems and Technologies, Pharmaceuticals, and Kidney Care. The company offers sterile intravenous (IV) solutions; infusion systems and devices; parenteral nutrition therapies; generic injectable pharmaceuticals; surgical hemostat and sealant products, advanced surgical equipment; smart bed systems; patient monitoring and diagnostic technologies; and respiratory health devices, as well as advanced equipment for the surgical space, including surgical video technologies, precision positioning devices, and other accessories.