Centre Asset Management LLC Lowers Position in Baxter International Inc. (NYSE:BAX)

Centre Asset Management LLC decreased its stake in shares of Baxter International Inc. (NYSE:BAX - Free Report) by 8.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 245,098 shares of the medical instruments supplier's stock after selling 21,904 shares during the quarter. Centre Asset Management LLC's holdings in Baxter International were worth $7,147,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. PVG Asset Management Corp purchased a new stake in shares of Baxter International during the third quarter worth approximately $429,000. TD Private Client Wealth LLC increased its position in shares of Baxter International by 29.5% in the 3rd quarter. TD Private Client Wealth LLC now owns 41,027 shares of the medical instruments supplier's stock valued at $1,558,000 after purchasing an additional 9,357 shares during the last quarter. Toronto Dominion Bank raised its holdings in shares of Baxter International by 15.4% in the 3rd quarter. Toronto Dominion Bank now owns 170,855 shares of the medical instruments supplier's stock valued at $6,487,000 after purchasing an additional 22,787 shares in the last quarter. Empire Financial Management Company LLC lifted its position in shares of Baxter International by 263.3% during the 3rd quarter. Empire Financial Management Company LLC now owns 26,907 shares of the medical instruments supplier's stock worth $1,022,000 after purchasing an additional 19,500 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Baxter International by 1.4% during the third quarter. Geode Capital Management LLC now owns 12,156,660 shares of the medical instruments supplier's stock worth $460,022,000 after purchasing an additional 170,776 shares in the last quarter. Institutional investors and hedge funds own 90.19% of the company's stock.

Baxter International Stock Performance

Shares of BAX traded up $0.24 during mid-day trading on Friday, reaching $29.50. 2,821,200 shares of the company's stock were exchanged, compared to its average volume of 3,417,800. The business's fifty day simple moving average is $32.34 and its 200-day simple moving average is $34.98. Baxter International Inc. has a 52-week low of $28.33 and a 52-week high of $44.01. The stock has a market capitalization of $15.06 billion, a PE ratio of 147.51, a price-to-earnings-growth ratio of 12.74 and a beta of 0.59. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.43 and a quick ratio of 1.09.

Baxter International (NYSE:BAX - Get Free Report) last posted its quarterly earnings data 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 net margin of 0.77% and a return on equity of 18.30%. The company had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.85 billion. During the same period in the previous year, the business posted $0.68 earnings per share. Baxter International's quarterly revenue was up 3.8% on a year-over-year basis. On average, equities research analysts expect that Baxter International Inc. will post 1.92 earnings per share for the current year.

Baxter International Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, November 29th were given a dividend of $0.17 per share. The ex-dividend date was Friday, November 29th. This represents a $0.68 dividend on an annualized basis and a yield of 2.31%. Baxter International's payout ratio is 340.00%.

Wall Street Analysts Forecast Growth

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

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.