Baxter International Inc. (NYSE:BAX) Shares Sold by Cincinnati Financial Corp

Cincinnati Financial Corp cut its stake in Baxter International Inc. (NYSE:BAX - Free Report) by 73.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 230,000 shares of the medical instruments supplier's stock after selling 652,600 shares during the quarter. Cincinnati Financial Corp's holdings in Baxter International were worth $8,733,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in BAX. First PREMIER Bank acquired a new stake in shares of Baxter International in the 3rd quarter worth $25,000. Innealta Capital LLC acquired a new stake in shares of Baxter International in the 2nd quarter worth $27,000. Fortitude Family Office LLC acquired a new stake in shares of Baxter International in the 3rd quarter worth $38,000. LRI Investments LLC acquired a new stake in shares of Baxter International in the 1st quarter worth $39,000. Finally, Versant Capital Management Inc boosted its position in shares of Baxter International by 974.2% in the 2nd quarter. Versant Capital Management Inc now owns 1,332 shares of the medical instruments supplier's stock worth $45,000 after purchasing an additional 1,208 shares in the last quarter. 90.19% of the stock is currently owned by hedge funds and other institutional investors.

Baxter International Trading Up 3.3 %

NYSE:BAX traded up $1.06 during trading hours on Monday, reaching $33.02. 7,003,745 shares of the stock were exchanged, compared to its average volume of 4,094,650. The company has a quick ratio of 0.91, a current ratio of 1.43 and a debt-to-equity ratio of 1.31. The business has a 50-day moving average of $36.85 and a two-hundred day moving average of $35.79. Baxter International Inc. has a twelve month low of $31.60 and a twelve month high of $44.01. The company has a market capitalization of $16.86 billion, a price-to-earnings ratio of 159.81, a PEG ratio of 12.69 and a beta of 0.60.

Baxter International (NYSE:BAX - Get Free Report) last released its quarterly earnings results on Friday, November 8th. The medical instruments supplier reported $0.80 EPS for the quarter, topping 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 for the quarter, compared to analysts' expectations of $3.85 billion. During the same period in the prior year, the firm earned $0.68 earnings per share. The firm's revenue was up 3.8% compared to the same quarter last year. On average, equities analysts predict that Baxter International Inc. will post 1.98 EPS for the current year.

Baxter International Cuts Dividend

The business also recently disclosed 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. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date is Friday, November 29th. Baxter International's dividend payout ratio is currently 580.03%.

Wall Street Analyst Weigh In

BAX has been the subject of a number of research reports. The Goldman Sachs Group lifted their price target on Baxter International from $36.00 to $40.00 and gave the stock a "neutral" rating in a research report on Thursday, August 8th. Citigroup lifted their price target on Baxter International from $38.00 to $40.00 and gave the company a "neutral" rating in a research note on Tuesday, October 1st. Stifel Nicolaus cut their price target on Baxter International from $46.00 to $38.00 and set a "buy" rating for the company in a research note on Monday, November 11th. Wells Fargo & Company cut their price objective on Baxter International from $44.00 to $40.00 and set an "equal weight" rating for the company in a research note on Wednesday, August 7th. Finally, StockNews.com lowered Baxter International from a "buy" rating to a "hold" rating in a research note on Monday, November 11th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $40.91.

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.