Geode Capital Management LLC Grows Holdings in Baxter International Inc. (NYSE:BAX)

Geode Capital Management LLC boosted its position in shares of Baxter International Inc. (NYSE:BAX - Free Report) by 1.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,156,660 shares of the medical instruments supplier's stock after acquiring an additional 170,776 shares during the period. Geode Capital Management LLC owned 2.38% of Baxter International worth $460,022,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in BAX. ORG Partners LLC lifted its stake in shares of Baxter International by 8,313.8% during the 2nd quarter. ORG Partners LLC now owns 4,880 shares of the medical instruments supplier's stock valued at $161,000 after buying an additional 4,822 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of Baxter International by 2.2% in the second quarter. Nisa Investment Advisors LLC now owns 95,997 shares of the medical instruments supplier's stock worth $3,239,000 after acquiring an additional 2,072 shares during the period. Bank of New York Mellon Corp grew its position in shares of Baxter International by 73.2% during the second quarter. Bank of New York Mellon Corp now owns 6,772,533 shares of the medical instruments supplier's stock worth $226,541,000 after purchasing an additional 2,862,626 shares in the last quarter. Innealta Capital LLC purchased a new stake in shares of Baxter International during the second quarter worth about $27,000. Finally, iA Global Asset Management Inc. bought a new stake in Baxter International during the 2nd quarter valued at approximately $403,000. Hedge funds and other institutional investors own 90.19% of the company's stock.

Baxter International Trading Down 1.7 %

Shares of NYSE:BAX traded down $0.52 during trading on Friday, reaching $30.32. The company's stock had a trading volume of 4,259,318 shares, compared to its average volume of 4,109,755. The stock has a market capitalization of $15.48 billion, a PE ratio of 154.21, a price-to-earnings-growth ratio of 12.74 and a beta of 0.57. Baxter International Inc. has a 12 month low of $30.06 and a 12 month high of $44.01. The firm's 50 day simple moving average is $34.58 and its two-hundred day simple moving average is $35.42. The company has a current ratio of 1.43, a quick ratio of 1.09 and a debt-to-equity ratio of 1.31.

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

Baxter International Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, November 29th will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.24%. Baxter International's dividend payout ratio is presently 340.02%.

Analysts Set New Price Targets

BAX has been the subject of a number of research analyst reports. Citigroup cut their price objective on shares of Baxter International from $37.00 to $35.00 and set a "neutral" rating for the company in a report on Wednesday. Stifel Nicolaus cut 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, StockNews.com cut shares of Baxter International from a "buy" rating to a "hold" rating in a research note on Monday, November 11th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $40.45.

Baxter International Company 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.