Baxter International Inc. (NYSE:BAX) Shares Purchased by Bank of New York Mellon Corp

Bank of New York Mellon Corp increased its stake in Baxter International Inc. (NYSE:BAX - Free Report) by 22.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,359,040 shares of the medical instruments supplier's stock after acquiring an additional 2,803,920 shares during the period. Bank of New York Mellon Corp owned approximately 3.01% of Baxter International worth $447,870,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. ARGA Investment Management LP increased its holdings in Baxter International by 148.8% in the fourth quarter. ARGA Investment Management LP now owns 870,601 shares of the medical instruments supplier's stock valued at $25,387,000 after buying an additional 520,633 shares during the last quarter. National Pension Service increased its holdings in Baxter International by 22.1% in the third quarter. National Pension Service now owns 1,154,616 shares of the medical instruments supplier's stock valued at $43,841,000 after buying an additional 208,726 shares during the last quarter. Geode Capital Management LLC increased its holdings in Baxter International by 1.4% in the third quarter. Geode Capital Management LLC now owns 12,156,660 shares of the medical instruments supplier's stock valued at $460,022,000 after buying an additional 170,776 shares during the last quarter. Forsta AP Fonden increased its holdings in Baxter International by 140.5% in the fourth quarter. Forsta AP Fonden now owns 273,900 shares of the medical instruments supplier's stock valued at $7,987,000 after buying an additional 160,000 shares during the last quarter. Finally, Stoneridge Investment Partners LLC purchased a new position in Baxter International in the fourth quarter valued at $2,328,000. 90.19% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Analysts Set New Price Targets

BAX has been the topic of several recent analyst reports. Citigroup dropped their target price on Baxter International from $37.00 to $35.00 and set a "neutral" rating on the stock in a report on Wednesday, December 11th. StockNews.com lowered Baxter International from a "buy" rating to a "hold" rating in a report on Monday, November 11th. Barclays assumed coverage on Baxter International in a report on Thursday, February 20th. They set an "overweight" rating and a $39.00 price objective on the stock. JPMorgan Chase & Co. dropped their price objective on Baxter International from $38.00 to $36.00 and set a "neutral" rating on the stock in a report on Friday, February 21st. Finally, Argus raised Baxter International from a "hold" rating to a "buy" rating in a report on Monday, February 24th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $39.00.

Baxter International Stock Performance

Shares of BAX traded down $0.60 during mid-day trading on Friday, hitting $34.50. 4,779,951 shares of the company's stock were exchanged, compared to its average volume of 5,113,291. Baxter International Inc. has a fifty-two week low of $28.33 and a fifty-two week high of $44.01. The firm has a market capitalization of $17.65 billion, a P/E ratio of -26.95, a P/E/G ratio of 0.93 and a beta of 0.61. The business's 50 day moving average is $31.23 and its two-hundred day moving average is $34.07. The company has a current ratio of 1.43, a quick ratio of 1.09 and a debt-to-equity ratio of 1.31.

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

Baxter International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, February 28th will be paid a dividend of $0.17 per share. The ex-dividend date is Friday, February 28th. This represents a $0.68 annualized dividend and a dividend yield of 1.97%. Baxter International's dividend payout ratio (DPR) is -53.13%.

About Baxter International

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.