Sound Shore Management Inc. CT Acquires Shares of 2,484,581 Baxter International Inc. (NYSE:BAX)

Sound Shore Management Inc. CT acquired a new position in Baxter International Inc. (NYSE:BAX - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 2,484,581 shares of the medical instruments supplier's stock, valued at approximately $72,450,000. Baxter International accounts for approximately 2.4% of Sound Shore Management Inc. CT's portfolio, making the stock its 21st largest holding. Sound Shore Management Inc. CT owned 0.49% of Baxter International at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Riverview Trust Co boosted its stake in 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. LRI Investments LLC boosted its position in shares of Baxter International by 60.8% during the third quarter. LRI Investments LLC now owns 1,560 shares of the medical instruments supplier's stock worth $59,000 after acquiring an additional 590 shares during the last quarter. Bruce G. Allen Investments LLC grew its stake in Baxter International by 247.3% during the fourth quarter. Bruce G. Allen Investments LLC now owns 2,622 shares of the medical instruments supplier's stock valued at $76,000 after acquiring an additional 1,867 shares in the last quarter. CKW Financial Group increased its holdings in Baxter International by 19.3% in the 4th 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 during the last quarter. Finally, West Oak Capital LLC lifted its stake in Baxter International by 345.3% in the 4th quarter. West Oak Capital LLC now owns 3,785 shares of the medical instruments supplier's stock worth $110,000 after purchasing an additional 2,935 shares in the last quarter. Hedge funds and other institutional investors own 90.19% of the company's stock.

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Baxter International Trading Up 0.2 %

BAX stock traded up $0.06 during mid-day trading on Friday, reaching $33.76. 2,513,119 shares of the stock traded hands, compared to its average volume of 4,385,449. Baxter International Inc. has a one year low of $28.34 and a one year high of $43.99. The stock has a market capitalization of $17.27 billion, a PE ratio of -26.37, a PEG ratio of 0.93 and a beta of 0.60. The company has a debt-to-equity ratio of 1.31, a quick ratio of 1.09 and a current ratio of 1.43. The business has a 50-day moving average price of $33.19 and a two-hundred day moving average price of $33.69.

Baxter International (NYSE:BAX - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The medical instruments supplier reported $0.58 EPS for the quarter, beating the consensus estimate of $0.52 by $0.06. The company 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%. Equities research analysts expect that Baxter International Inc. will post 2.48 EPS for the current 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 issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date is Friday, February 28th. Baxter International's payout ratio is currently -53.13%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Barclays raised their price objective on Baxter International from $39.00 to $41.00 and gave the company an "overweight" rating in a research report on Monday, March 10th. Argus raised Baxter International from a "hold" rating to a "buy" rating in a research note on Monday, February 24th. JPMorgan Chase & Co. lowered their target price 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 shares of Baxter International in a research report on Wednesday, February 26th. They issued a "buy" rating and a $42.00 price target on the stock. Finally, Citigroup lowered 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 report on Wednesday, December 11th. One equities 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 company. Based on data from MarketBeat.com, the stock has a consensus 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.