Raymond James Trust N.A. Has $1.26 Million Stock Holdings in Baxter International Inc. (NYSE:BAX)

Raymond James Trust N.A. increased its stake in shares of Baxter International Inc. (NYSE:BAX) by 21.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,071 shares of the medical instruments supplier’s stock after purchasing an additional 5,931 shares during the quarter. Raymond James Trust N.A.’s holdings in Baxter International were worth $1,256,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Entropy Technologies LP increased its position in Baxter International by 213.5% during the 3rd quarter. Entropy Technologies LP now owns 23,192 shares of the medical instruments supplier’s stock worth $881,000 after purchasing an additional 15,794 shares in the last quarter. Sivik Global Healthcare LLC grew its holdings in Baxter International by 50.0% during the 3rd quarter. Sivik Global Healthcare LLC now owns 150,000 shares of the medical instruments supplier’s stock worth $5,696,000 after acquiring an additional 50,000 shares during the last quarter. Coho Partners Ltd. bought a new stake in Baxter International during the 3rd quarter worth approximately $57,229,000. Handelsbanken Fonder AB grew its holdings in Baxter International by 8.7% during the 3rd quarter. Handelsbanken Fonder AB now owns 217,629 shares of the medical instruments supplier’s stock worth $8,263,000 after acquiring an additional 17,450 shares during the last quarter. Finally, Swedbank AB bought a new stake in Baxter International during the 1st quarter worth approximately $6,083,000. 90.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on BAX. The Goldman Sachs Group boosted their target price on shares of Baxter International from $36.00 to $40.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. JPMorgan Chase & Co. reduced their price objective on shares of Baxter International from $44.00 to $42.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Citigroup increased their price objective on shares of Baxter International from $38.00 to $40.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 1st. StockNews.com cut shares of Baxter International from a “buy” rating to a “hold” rating in a research report on Monday, November 11th. Finally, Stifel Nicolaus decreased their price objective on shares of Baxter International from $46.00 to $38.00 and set a “buy” rating for the company in a research report on Monday, November 11th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $40.91.

Baxter International Trading Up 0.7 %

NYSE:BAX opened at $33.21 on Monday. The company has a current ratio of 1.43, a quick ratio of 1.09 and a debt-to-equity ratio of 1.31. The stock has a market capitalization of $16.96 billion, a price-to-earnings ratio of 166.06, a PEG ratio of 13.10 and a beta of 0.60. The firm has a fifty day simple moving average of $36.21 and a two-hundred day simple moving average of $35.67. Baxter International Inc. has a 12 month low of $31.60 and a 12 month high of $44.01.

Baxter International (NYSE:BAX) last posted its quarterly earnings results on Friday, November 8th. The medical instruments supplier reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.02. Baxter International had a net margin of 0.77% and a return on equity of 18.30%. The business had revenue of $3.85 billion during the quarter, compared to analysts’ expectations of $3.85 billion. During the same period last year, the company posted $0.68 earnings per share. The business’s quarterly revenue was up 3.8% on a year-over-year basis. Analysts expect that Baxter International Inc. will post 1.98 EPS for the current fiscal year.

Baxter International Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, November 29th will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date is Friday, November 29th. Baxter International’s dividend payout ratio (DPR) is 580.03%.

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.