Coho Partners Ltd. reduced its stake in shares of Baxter International Inc. (NYSE:BAX - Free Report) by 23.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,148,034 shares of the medical instruments supplier's stock after selling 359,181 shares during the quarter. Coho Partners Ltd. owned approximately 0.22% of Baxter International worth $33,477,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in BAX. Fortitude Family Office LLC purchased a new position in shares of Baxter International during the third quarter valued at about $38,000. LRI Investments LLC grew its holdings in shares of Baxter International by 60.8% during the 3rd quarter. LRI Investments LLC now owns 1,560 shares of the medical instruments supplier's stock worth $59,000 after acquiring an additional 590 shares during the period. Cromwell Holdings LLC bought a new position in shares of Baxter International in the 3rd quarter worth approximately $62,000. CKW Financial Group raised its position in shares of Baxter International by 100.0% in the 3rd quarter. CKW Financial Group now owns 2,200 shares of the medical instruments supplier's stock worth $81,000 after acquiring an additional 1,100 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its stake in shares of Baxter International by 23.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,519 shares of the medical instruments supplier's stock valued at $96,000 after purchasing an additional 475 shares during the period. 90.19% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of equities analysts have issued reports on BAX shares. StockNews.com downgraded Baxter International from a "buy" rating to a "hold" rating in a report on Monday, November 11th. Stifel Nicolaus reduced their target price on shares of Baxter International from $46.00 to $38.00 and set a "buy" rating on the stock in a research report on Monday, November 11th. Finally, Citigroup lowered their price target on shares of Baxter International from $37.00 to $35.00 and set a "neutral" rating for the company in a research report on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $39.44.
Check Out Our Latest Stock Analysis on Baxter International
Baxter International Stock Up 1.3 %
Baxter International stock traded up $0.40 during mid-day trading on Tuesday, reaching $31.22. The stock had a trading volume of 4,416,692 shares, compared to its average volume of 4,509,081. Baxter International Inc. has a one year low of $28.33 and a one year high of $44.01. The company has a 50-day moving average price of $30.53 and a two-hundred day moving average price of $34.20. The company has a market capitalization of $15.94 billion, a price-to-earnings ratio of 156.08, a PEG ratio of 9.83 and a beta of 0.61. 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 Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, February 28th will be paid a $0.17 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.68 annualized dividend and a dividend yield of 2.18%. Baxter International's dividend payout ratio is presently 340.00%.
Baxter International Company Profile
(
Free Report)
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.
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