Empire Financial Management Company LLC Buys 19,500 Shares of Baxter International Inc. (NYSE:BAX)

Empire Financial Management Company LLC increased its position in Baxter International Inc. (NYSE:BAX - Free Report) by 263.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 26,907 shares of the medical instruments supplier's stock after acquiring an additional 19,500 shares during the period. Empire Financial Management Company LLC's holdings in Baxter International were worth $1,022,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. First PREMIER Bank purchased a new position in Baxter International in the 3rd quarter worth approximately $25,000. Innealta Capital LLC purchased a new stake in Baxter International during the 2nd quarter valued at $27,000. Fortitude Family Office LLC purchased a new stake in Baxter International during the 3rd quarter valued at $38,000. LRI Investments LLC raised its stake in Baxter International by 60.8% during the 3rd 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 during the last quarter. Finally, Cromwell Holdings LLC purchased a new stake in Baxter International during the 3rd quarter valued at $62,000. 90.19% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. StockNews.com lowered shares of Baxter International from a "buy" rating to a "hold" rating in a research note 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 decreased their target price on shares of Baxter International from $37.00 to $35.00 and set a "neutral" rating for the company in a research note on Wednesday. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $40.45.

Baxter International Price Performance

Baxter International stock traded down $0.56 during mid-day trading on Wednesday, hitting $30.88. The stock had a trading volume of 2,468,098 shares, compared to its average volume of 4,092,515. The firm has a market capitalization of $15.77 billion, a P/E ratio of 155.01, a P/E/G ratio of 13.06 and a beta of 0.58. 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 firm's 50 day moving average is $34.76 and its 200 day moving average is $35.48. Baxter International Inc. has a one year low of $30.80 and a one year high of $44.01.

Baxter International (NYSE:BAX - Get Free Report) last issued its earnings results on Friday, November 8th. The medical instruments supplier reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.02. The company had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $3.85 billion. Baxter International had a net margin of 0.77% and a return on equity of 18.30%. Baxter International's quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.68 EPS. On average, sell-side analysts forecast that Baxter International Inc. will post 1.92 earnings per share for the current fiscal year.

Baxter International Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, November 29th will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 2.20%. The ex-dividend date is Friday, November 29th. Baxter International's dividend payout ratio (DPR) is presently 340.02%.

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.