Cooke & Bieler LP Sells 76,355 Shares of Baxter International Inc. (NYSE:BAX)

Cooke & Bieler LP lessened its holdings in shares of Baxter International Inc. (NYSE:BAX - Free Report) by 4.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,611,430 shares of the medical instruments supplier's stock after selling 76,355 shares during the period. Cooke & Bieler LP owned about 0.32% of Baxter International worth $46,989,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. CKW Financial Group raised its holdings in shares of Baxter International by 19.3% during the fourth quarter. CKW Financial Group now owns 2,625 shares of the medical instruments supplier's stock valued at $77,000 after acquiring an additional 425 shares in the last quarter. Farther Finance Advisors LLC increased its position in Baxter International by 23.2% during 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. LRI Investments LLC raised its holdings in Baxter International by 60.8% in the 3rd quarter. LRI Investments LLC now owns 1,560 shares of the medical instruments supplier's stock worth $59,000 after purchasing an additional 590 shares in the last quarter. Riverview Trust Co lifted its position in shares of Baxter International by 5,488.2% in the 4th quarter. Riverview Trust Co now owns 950 shares of the medical instruments supplier's stock worth $28,000 after purchasing an additional 933 shares during the period. Finally, Bruce G. Allen Investments LLC lifted its position in shares of Baxter International by 247.3% in the 4th quarter. Bruce G. Allen Investments LLC now owns 2,622 shares of the medical instruments supplier's stock worth $76,000 after purchasing an additional 1,867 shares during the period. Hedge funds and other institutional investors own 90.19% of the company's stock.

Baxter International Stock Performance

Shares of Baxter International stock opened at $36.64 on Tuesday. The stock has a market cap of $18.74 billion, a price-to-earnings ratio of -28.62, a PEG ratio of 0.93 and a beta of 0.60. 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 Inc. has a 1 year low of $28.34 and a 1 year high of $43.99. The firm's 50-day moving average is $32.02 and its 200 day moving average is $34.03.

Remove Ads

Baxter International (NYSE:BAX - Get Free Report) last issued its earnings results on Thursday, February 20th. The medical instruments supplier reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.06. The firm had revenue of $2.75 billion for the quarter, compared to the consensus estimate of $2.67 billion. Baxter International had a negative net margin of 5.05% and a positive return on equity of 16.67%. Sell-side analysts anticipate that Baxter International Inc. will post 2.48 EPS for the current fiscal year.

Baxter International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, February 28th will be given a dividend of $0.17 per share. The ex-dividend date is Friday, February 28th. This represents a $0.68 annualized dividend and a dividend yield of 1.86%. Baxter International's dividend payout ratio (DPR) is presently -53.13%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on BAX shares. The Goldman Sachs Group began coverage on shares of Baxter International in a research note on Wednesday, February 26th. They issued a "buy" rating and a $42.00 price target for the company. StockNews.com cut Baxter International from a "buy" rating to a "hold" rating in a research note on Monday, November 11th. JPMorgan Chase & Co. reduced their price target on Baxter International from $38.00 to $36.00 and set a "neutral" rating on the stock in a research note on Friday, February 21st. Barclays increased their price objective on Baxter International from $39.00 to $41.00 and gave the stock an "overweight" rating in a report on Monday. Finally, Argus raised shares of Baxter International from a "hold" rating to a "buy" rating in a research report on Monday, February 24th. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, Baxter International presently has an average rating of "Hold" and an average target price of $38.56.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.