Baxter International Inc. (NYSE:BAX) Holdings Lowered by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. trimmed its stake in shares of Baxter International Inc. (NYSE:BAX) by 0.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,202,909 shares of the medical instruments supplier’s stock after selling 1,078 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Baxter International were worth $46,504,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Headinvest LLC purchased a new stake in shares of Baxter International during the third quarter valued at $25,000. Bruce G. Allen Investments LLC purchased a new stake in shares of Baxter International during the fourth quarter valued at $36,000. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Baxter International during the fourth quarter valued at $37,000. CKW Financial Group purchased a new stake in shares of Baxter International during the fourth quarter valued at $43,000. Finally, BKM Wealth Management LLC purchased a new stake in shares of Baxter International during the fourth quarter valued at $44,000. 90.19% of the stock is owned by hedge funds and other institutional investors.

Baxter International Stock Performance

Shares of BAX stock opened at $39.47 on Friday. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.48 and a quick ratio of 1.04. Baxter International Inc. has a fifty-two week low of $31.01 and a fifty-two week high of $50.21. The stock’s 50-day moving average is $41.80 and its two-hundred day moving average is $38.41. The firm has a market cap of $20.04 billion, a P/E ratio of 7.56, a PEG ratio of 2.13 and a beta of 0.62.

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

Baxter International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 1st were issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.94%. The ex-dividend date was Thursday, February 29th. Baxter International’s dividend payout ratio is 22.22%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on BAX. Barclays upped their price target on Baxter International from $52.00 to $54.00 and gave the company an “overweight” rating in a research report on Monday, February 12th. StockNews.com raised Baxter International from a “hold” rating to a “buy” rating in a research report on Friday, January 19th. UBS Group dropped their price target on Baxter International from $40.00 to $36.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 6th. JPMorgan Chase & Co. upped their price target on Baxter International from $38.00 to $44.00 and gave the company a “neutral” rating in a research report on Friday, February 9th. Finally, Bank of America upped their price target on Baxter International from $42.00 to $45.00 and gave the company a “neutral” rating in a research report on Tuesday, March 5th. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $46.30.

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.