Baxter International Inc. (NYSE:BAX) Shares Sold by Foundry Partners LLC

Foundry Partners LLC reduced its holdings in Baxter International Inc. (NYSE:BAXFree Report) by 54.5% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 157,752 shares of the medical instruments supplier’s stock after selling 188,914 shares during the quarter. Foundry Partners LLC’s holdings in Baxter International were worth $5,954,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Bank of New York Mellon Corp lifted its position in Baxter International by 69.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 6,491,343 shares of the medical instruments supplier’s stock valued at $244,983,000 after purchasing an additional 2,650,959 shares during the last quarter. California Public Employees Retirement System lifted its position in Baxter International by 1.0% in the 3rd quarter. California Public Employees Retirement System now owns 3,151,515 shares of the medical instruments supplier’s stock valued at $118,938,000 after purchasing an additional 30,477 shares during the last quarter. Cincinnati Insurance Co. lifted its position in Baxter International by 26.3% in the 3rd quarter. Cincinnati Insurance Co. now owns 672,000 shares of the medical instruments supplier’s stock valued at $25,361,000 after purchasing an additional 140,000 shares during the last quarter. Impax Asset Management Group plc lifted its position in Baxter International by 9.0% in the 2nd quarter. Impax Asset Management Group plc now owns 838,200 shares of the medical instruments supplier’s stock valued at $38,188,000 after purchasing an additional 69,105 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in Baxter International by 18.5% in the 2nd quarter. Geode Capital Management LLC now owns 10,629,326 shares of the medical instruments supplier’s stock valued at $482,991,000 after purchasing an additional 1,658,160 shares during the last quarter. 85.47% of the stock is currently owned by institutional investors.

Baxter International Stock Performance

BAX stock opened at $40.33 on Tuesday. The company has a debt-to-equity ratio of 1.31, a quick ratio of 1.04 and a current ratio of 1.48. The stock has a market cap of $20.48 billion, a P/E ratio of 7.73, a P/E/G ratio of 2.63 and a beta of 0.61. The firm has a 50 day simple moving average of $38.69 and a 200 day simple moving average of $38.03. Baxter International Inc. has a 52 week low of $31.01 and a 52 week high of $50.21.

Baxter International (NYSE:BAXGet Free Report) last posted its quarterly earnings results on Thursday, February 8th. The medical instruments supplier reported $0.88 EPS for the quarter, topping the consensus estimate of $0.86 by $0.02. The business had revenue of $3.89 billion during the quarter, compared to analysts’ expectations of $3.81 billion. Baxter International had a net margin of 17.77% and a return on equity of 19.49%. The firm’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same period last year, the company posted $0.88 earnings per share. Research analysts anticipate that Baxter International Inc. will post 2.89 earnings per share for the current fiscal year.

Baxter International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Friday, March 1st will be paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 2.88%. Baxter International’s dividend payout ratio (DPR) is presently 22.22%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on BAX shares. UBS Group cut their price objective on shares of Baxter International from $40.00 to $36.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 6th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Baxter International from $35.00 to $50.00 and gave the stock a “hold” rating in a research report on Tuesday, October 24th. Morgan Stanley dropped their price target on shares of Baxter International from $45.00 to $39.00 and set an “equal weight” rating on the stock in a research report on Monday, December 4th. Barclays lifted their price objective on shares of Baxter International from $52.00 to $54.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, StockNews.com raised shares of Baxter International from a “hold” rating to a “buy” rating in a research note on Friday, January 19th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $46.30.

Read Our Latest Stock Report on BAX

About Baxter International

(Free Report)

Baxter International Inc, through its subsidiaries, develops and provides a portfolio of healthcare products worldwide. The company offers peritoneal dialysis and hemodialysis, and additional dialysis therapies and services; intravenous therapies, infusion pumps, administration sets, and drug reconstitution devices; premixed and oncology drug platforms, inhaled anesthesia and critical care products and pharmacy compounding services; parenteral nutrition therapies and related products; biological products and medical devices used in surgical procedures for hemostasis, tissue sealing and adhesion prevention; and continuous renal replacement therapies and other organ support therapies focused in the intensive care unit.

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Institutional Ownership by Quarter for Baxter International (NYSE:BAX)

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