Gabelli Funds LLC Has $9.60 Million Holdings in Baxter International Inc. (NYSE:BAX)

Gabelli Funds LLC lifted its position in Baxter International Inc. (NYSE:BAX - Free Report) by 6.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 329,200 shares of the medical instruments supplier's stock after acquiring an additional 21,200 shares during the quarter. Gabelli Funds LLC owned approximately 0.06% of Baxter International worth $9,599,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Dodge & Cox boosted its position in shares of Baxter International by 13.0% in the fourth quarter. Dodge & Cox now owns 50,377,294 shares of the medical instruments supplier's stock worth $1,469,002,000 after buying an additional 5,779,100 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Baxter International by 22.3% in the 4th quarter. Bank of New York Mellon Corp now owns 15,359,040 shares of the medical instruments supplier's stock valued at $447,870,000 after purchasing an additional 2,803,920 shares during the period. Sound Shore Management Inc. CT purchased a new stake in shares of Baxter International in the fourth quarter worth approximately $72,450,000. Thompson Siegel & Walmsley LLC boosted its holdings in shares of Baxter International by 35.1% during the fourth quarter. Thompson Siegel & Walmsley LLC now owns 2,548,215 shares of the medical instruments supplier's stock worth $74,306,000 after purchasing an additional 662,042 shares during the period. Finally, ARGA Investment Management LP grew its position in Baxter International by 148.8% during the fourth quarter. ARGA Investment Management LP now owns 870,601 shares of the medical instruments supplier's stock valued at $25,387,000 after purchasing an additional 520,633 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 stock traded up $1.08 during trading on Friday, reaching $28.90. The company had a trading volume of 5,523,443 shares, compared to its average volume of 4,546,784. The company has a market capitalization of $14.83 billion, a PE ratio of -22.58, a PEG ratio of 0.93 and a beta of 0.64. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.43 and a quick ratio of 1.09. The firm's 50 day simple moving average is $32.49 and its two-hundred day simple moving average is $32.63. Baxter International Inc. has a one year low of $26.25 and a one year high of $41.18.

Baxter International (NYSE:BAX - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The medical instruments supplier reported $0.58 EPS for the quarter, beating analysts' consensus estimates of $0.52 by $0.06. The company had revenue of $2.75 billion for the quarter, compared to analyst estimates 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 forecast that Baxter International Inc. will post 2.48 earnings per share for the current year.

Baxter International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, February 28th were given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 2.35%. The ex-dividend date of this dividend was Friday, February 28th. Baxter International's dividend payout ratio is currently -53.13%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on BAX. Argus raised shares of Baxter International from a "hold" rating to a "buy" rating in a research note on Monday, February 24th. JPMorgan Chase & Co. reduced their price objective on Baxter International from $38.00 to $36.00 and set a "neutral" rating for the company in a research report on Friday, February 21st. The Goldman Sachs Group began coverage on Baxter International in a research note on Wednesday, February 26th. They issued a "buy" rating and a $42.00 target price on the stock. Finally, Barclays raised their price target on Baxter International from $39.00 to $41.00 and gave the stock an "overweight" rating in a research note on Monday, March 10th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target 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.