Toronto Dominion Bank Buys 22,787 Shares of Baxter International Inc. (NYSE:BAX)

Toronto Dominion Bank lifted its stake in Baxter International Inc. (NYSE:BAX - Free Report) by 15.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 170,855 shares of the medical instruments supplier's stock after buying an additional 22,787 shares during the period. Toronto Dominion Bank's holdings in Baxter International were worth $6,487,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. First PREMIER Bank bought a new stake in Baxter International during the 3rd quarter worth approximately $25,000. Innealta Capital LLC bought a new stake in shares of Baxter International during the second quarter worth $27,000. Fortitude Family Office LLC acquired a new stake in shares of Baxter International in the third quarter valued at $38,000. LRI Investments LLC raised its holdings in shares of Baxter International by 60.8% in the third quarter. LRI Investments LLC now owns 1,560 shares of the medical instruments supplier's stock valued at $59,000 after buying an additional 590 shares during the last quarter. Finally, Cromwell Holdings LLC acquired a new position in Baxter International during the 3rd quarter worth about $62,000. Institutional investors own 90.19% of the company's stock.

Baxter International Trading Down 1.7 %

NYSE BAX traded down $0.52 on Friday, reaching $30.32. The company had a trading volume of 4,259,331 shares, compared to its average volume of 4,109,755. Baxter International Inc. has a 52 week low of $30.06 and a 52 week high of $44.01. The stock's 50 day moving average is $34.46 and its 200-day moving average is $35.42. 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 stock has a market cap of $15.48 billion, a price-to-earnings ratio of 151.60, a PEG ratio of 12.74 and a beta of 0.57.

Baxter International (NYSE:BAX - Get Free Report) last announced its quarterly earnings results on Friday, November 8th. The medical instruments supplier reported $0.80 EPS for the quarter, beating analysts' consensus estimates of $0.78 by $0.02. Baxter International had a return on equity of 18.30% and a net margin of 0.77%. The company had revenue of $3.85 billion during the quarter, compared to analysts' expectations of $3.85 billion. During the same period in the prior year, the business posted $0.68 EPS. Baxter International's revenue was up 3.8% on a year-over-year basis. Equities analysts predict that Baxter International Inc. will post 1.92 earnings per share for the current year.

Baxter International Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, November 29th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.24%. Baxter International's dividend payout ratio is 340.00%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Citigroup dropped their target price on shares of Baxter International from $37.00 to $35.00 and set a "neutral" rating for the company in a research note on Wednesday. StockNews.com cut shares of Baxter International from a "buy" rating to a "hold" rating in a research report on Monday, November 11th. Finally, Stifel Nicolaus reduced their price objective on Baxter International from $46.00 to $38.00 and set a "buy" rating on the stock in a report on Monday, November 11th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $40.45.

Baxter International Company 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.