RNC Capital Management LLC Reduces Stock Position in Baxter International Inc. (NYSE:BAX)

RNC Capital Management LLC lessened its stake in Baxter International Inc. (NYSE:BAX - Free Report) by 34.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 78,193 shares of the medical instruments supplier's stock after selling 41,359 shares during the period. RNC Capital Management LLC's holdings in Baxter International were worth $2,280,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. GAMMA Investing LLC grew its position in Baxter International by 6.5% during the third quarter. GAMMA Investing LLC now owns 7,517 shares of the medical instruments supplier's stock valued at $285,000 after buying an additional 459 shares during the period. First PREMIER Bank acquired a new stake in shares of Baxter International during the 3rd quarter valued at about $25,000. Livforsakringsbolaget Skandia Omsesidigt increased its stake in shares of Baxter International by 229.9% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 4,747 shares of the medical instruments supplier's stock valued at $180,000 after purchasing an additional 3,308 shares in the last quarter. Valeo Financial Advisors LLC acquired a new position in Baxter International in the 3rd quarter worth about $218,000. Finally, Trust Point Inc. purchased a new position in Baxter International during the third quarter worth approximately $213,000. 90.19% of the stock is owned by hedge funds and other institutional investors.

Baxter International Trading Up 0.1 %

NYSE BAX traded up $0.04 during trading hours on Monday, reaching $30.66. The company had a trading volume of 2,338,142 shares, compared to its average volume of 4,452,730. The company has a current ratio of 1.43, a quick ratio of 1.09 and a debt-to-equity ratio of 1.31. The stock has a market capitalization of $15.66 billion, a P/E ratio of 153.28, a price-to-earnings-growth ratio of 9.83 and a beta of 0.61. The stock has a 50-day moving average of $30.76 and a 200 day moving average of $34.41. Baxter International Inc. has a 1-year low of $28.33 and a 1-year high of $44.01.

Baxter International (NYSE:BAX - Get Free Report) last announced its earnings results on Friday, November 8th. The medical instruments supplier reported $0.80 earnings per share (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 for the quarter, compared to analyst estimates of $3.85 billion. During the same quarter in the previous year, the company earned $0.68 earnings per share. The firm's quarterly revenue was up 3.8% compared to the same quarter last year. As a group, research analysts anticipate that Baxter International Inc. will post 1.83 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently commented on BAX. StockNews.com lowered shares of Baxter International from a "buy" rating to a "hold" rating in a report on Monday, November 11th. Citigroup reduced their price objective on Baxter International from $37.00 to $35.00 and set a "neutral" rating for the company in a research note on Wednesday, December 11th. Finally, Stifel Nicolaus dropped their price target on Baxter International from $46.00 to $38.00 and set a "buy" rating for the company in a research report on Monday, November 11th. One analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $40.90.

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.