Geode Capital Management LLC Buys 290,279 Shares of Baxter International Inc. (NYSE:BAX)

Geode Capital Management LLC boosted its stake in Baxter International Inc. (NYSE:BAX - Free Report) by 2.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,446,939 shares of the medical instruments supplier's stock after purchasing an additional 290,279 shares during the period. Geode Capital Management LLC owned about 2.44% of Baxter International worth $362,006,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Bank of New York Mellon Corp raised its holdings in Baxter International by 22.3% during 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 buying an additional 2,803,920 shares during the last quarter. Sound Shore Management Inc. CT purchased a new position in Baxter International during the 4th quarter valued at about $72,450,000. Thompson Siegel & Walmsley LLC lifted its stake in Baxter International by 35.1% in 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 acquiring an additional 662,042 shares during the period. ARGA Investment Management LP boosted its stake in shares of Baxter International by 148.8% during the 4th 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. Finally, Amundi raised its position in shares of Baxter International by 41.1% in the 4th quarter. Amundi now owns 1,319,274 shares of the medical instruments supplier's stock worth $39,037,000 after acquiring an additional 384,349 shares in the last quarter. Institutional investors own 90.19% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on BAX shares. JPMorgan Chase & Co. cut their price objective on shares of Baxter International from $38.00 to $36.00 and set a "neutral" rating on the stock in a report on Friday, February 21st. Argus raised Baxter International from a "hold" rating to a "buy" rating in a report on Monday, February 24th. Barclays raised their price target on Baxter International from $39.00 to $41.00 and gave the company an "overweight" rating in a report on Monday, March 10th. Citigroup reduced their price objective 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, December 11th. Finally, The Goldman Sachs Group assumed coverage on shares of Baxter International in a research report on Wednesday, February 26th. They set a "buy" rating and a $42.00 price target for the company. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Baxter International currently has a consensus rating of "Hold" and an average price target of $38.56.

Baxter International Price Performance

Shares of Baxter International stock traded down $2.84 during trading on Thursday, reaching $27.91. 2,116,492 shares of the stock traded hands, compared to its average volume of 4,894,437. 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 company has a market capitalization of $14.32 billion, a price-to-earnings ratio of -21.82, a P/E/G ratio of 0.93 and a beta of 0.64. Baxter International Inc. has a 52-week low of $26.25 and a 52-week high of $42.47. The business has a fifty day simple moving average of $32.88 and a two-hundred day simple moving average of $33.10.

Baxter International (NYSE:BAX - Get Free Report) last released its earnings results on Thursday, February 20th. The medical instruments supplier reported $0.58 earnings per share for the quarter, beating 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 positive return on equity of 16.67% and a negative net margin of 5.05%. Sell-side analysts expect that Baxter International Inc. will post 2.48 EPS for the current year.

Baxter International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, February 28th were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.44%. The ex-dividend date of this dividend was Friday, February 28th. Baxter International's dividend payout ratio is currently -53.13%.

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.