Sumitomo Mitsui Trust Group Inc. Increases Stock Holdings in Baxter International Inc. (NYSE:BAX)

Sumitomo Mitsui Trust Group Inc. boosted its stake in Baxter International Inc. (NYSE:BAX) by 1.9% in the fourth quarter, Holdings Channel reports. The fund owned 1,160,666 shares of the medical instruments supplier’s stock after buying an additional 21,592 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Baxter International were worth $33,845,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of BAX. CKW Financial Group boosted its stake in shares of Baxter International by 19.3% in the fourth quarter. CKW Financial Group now owns 2,625 shares of the medical instruments supplier’s stock valued at $77,000 after purchasing an additional 425 shares during the period. Farther Finance Advisors LLC lifted its holdings in Baxter International by 23.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,519 shares of the medical instruments supplier’s stock worth $96,000 after buying an additional 475 shares in the last quarter. LRI Investments LLC lifted its holdings in Baxter International by 60.8% in the 3rd quarter. LRI Investments LLC now owns 1,560 shares of the medical instruments supplier’s stock worth $59,000 after buying an additional 590 shares in the last quarter. Greenleaf Trust boosted its position in Baxter International by 10.0% in the 3rd quarter. Greenleaf Trust now owns 9,491 shares of the medical instruments supplier’s stock valued at $360,000 after buying an additional 859 shares during the last quarter. Finally, Fortitude Family Office LLC acquired a new stake in shares of Baxter International during the third quarter valued at about $38,000. Institutional investors and hedge funds own 90.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on BAX. StockNews.com downgraded Baxter International from a “buy” rating to a “hold” rating in a report on Monday, November 11th. Stifel Nicolaus reduced their target price on 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, Citigroup dropped their price target 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. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $40.90.

Baxter International Stock Down 0.7 %

Shares of NYSE:BAX opened at $30.61 on Wednesday. The company’s fifty day moving average is $30.70 and its two-hundred day moving average is $34.38. The company has a debt-to-equity ratio of 1.31, a quick ratio of 1.09 and a current ratio of 1.43. Baxter International Inc. has a 1-year low of $28.33 and a 1-year high of $44.01. The stock has a market capitalization of $15.63 billion, a price-to-earnings ratio of 153.03, a price-to-earnings-growth ratio of 9.83 and a beta of 0.61.

Baxter International Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, February 28th will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 2.22%. Baxter International’s payout ratio is currently 340.02%.

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.