Adalta Capital Management LLC Sells 16,353 Shares of Baxter International Inc. (NYSE:BAX)

Adalta Capital Management LLC reduced its holdings in Baxter International Inc. (NYSE:BAX - Free Report) by 68.8% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 7,425 shares of the medical instruments supplier's stock after selling 16,353 shares during the quarter. Adalta Capital Management LLC's holdings in Baxter International were worth $289,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. First PREMIER Bank acquired a new position in Baxter International during the 3rd quarter worth $25,000. Innealta Capital LLC bought a new position in Baxter International in the 2nd quarter valued at about $27,000. Fortitude Family Office LLC acquired a new position in Baxter International in the third quarter worth approximately $38,000. LRI Investments LLC increased 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 in the last quarter. Finally, Cromwell Holdings LLC acquired a new stake in shares of Baxter International during the 3rd quarter valued at $62,000. Institutional investors own 90.19% of the company's stock.

Baxter International Stock Performance

Shares of NYSE:BAX traded up $0.05 during midday trading on Monday, hitting $31.85. The company's stock had a trading volume of 4,419,332 shares, compared to its average volume of 4,101,367. The company has a debt-to-equity ratio of 1.31, a quick ratio of 1.09 and a current ratio of 1.43. The stock's 50 day simple moving average is $35.00 and its 200 day simple moving average is $35.51. The stock has a market capitalization of $16.26 billion, a price-to-earnings ratio of 159.01, a PEG ratio of 13.06 and a beta of 0.58. Baxter International Inc. has a fifty-two week low of $31.60 and a fifty-two week high of $44.01.

Baxter International (NYSE:BAX - Get Free Report) last released 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 firm had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.85 billion. During the same quarter last year, the firm posted $0.68 EPS. The company's revenue was up 3.8% on a year-over-year basis. As a group, research analysts anticipate that Baxter International Inc. will post 1.92 earnings per share for the current year.

Baxter International Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, November 29th will be given a $0.17 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.68 annualized dividend and a yield of 2.14%. Baxter International's dividend payout ratio is 340.02%.

Analysts Set New Price Targets

BAX has been the subject of several analyst reports. StockNews.com downgraded Baxter International from a "buy" rating to a "hold" rating in a report on Monday, November 11th. Stifel Nicolaus decreased their target price on shares of Baxter International from $46.00 to $38.00 and set a "buy" rating for the company in a research note on Monday, November 11th. Finally, Citigroup upped their target price on Baxter International from $38.00 to $40.00 and gave the stock a "neutral" rating in a research report on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, 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.