Baxter International Inc. (NYSE:BAX) Shares Purchased by Graypoint LLC

Graypoint LLC raised its stake in Baxter International Inc. (NYSE:BAX) by 19.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,243 shares of the medical instruments supplier’s stock after purchasing an additional 2,616 shares during the period. Graypoint LLC’s holdings in Baxter International were worth $543,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in BAX. Vestor Capital LLC acquired a new stake in Baxter International in the fourth quarter valued at approximately $109,000. BNP Paribas Financial Markets raised its holdings in shares of Baxter International by 110.9% in the 4th quarter. BNP Paribas Financial Markets now owns 797,372 shares of the medical instruments supplier’s stock valued at $30,826,000 after purchasing an additional 419,322 shares in the last quarter. First United Bank & Trust purchased a new stake in shares of Baxter International during the 4th quarter worth $93,000. EverSource Wealth Advisors LLC grew its stake in shares of Baxter International by 20.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 2,400 shares of the medical instruments supplier’s stock worth $93,000 after purchasing an additional 406 shares in the last quarter. Finally, Nixon Peabody Trust Co. purchased a new position in Baxter International in the fourth quarter valued at $232,000. Hedge funds and other institutional investors own 90.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on BAX. StockNews.com raised Baxter International from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. JPMorgan Chase & Co. lowered their price target on Baxter International from $44.00 to $42.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. TD Cowen cut shares of Baxter International from a “buy” rating to a “hold” rating and set a $40.00 price objective on the stock. in a report on Friday, May 10th. Citigroup lowered their target price on shares of Baxter International from $38.00 to $37.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Finally, Morgan Stanley lowered shares of Baxter International from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $39.00 to $30.00 in a research note on Monday, July 15th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $41.73.

Baxter International Price Performance

Shares of NYSE:BAX opened at $37.94 on Monday. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.91 and a current ratio of 1.40. Baxter International Inc. has a one year low of $31.01 and a one year high of $44.01. The company has a 50-day simple moving average of $35.49 and a 200-day simple moving average of $37.63. The stock has a market capitalization of $19.36 billion, a price-to-earnings ratio of 7.30, a PEG ratio of 1.28 and a beta of 0.57.

Baxter International (NYSE:BAX) last posted its quarterly earnings data on Tuesday, August 6th. The medical instruments supplier reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.02. The company had revenue of $3.81 billion during the quarter, compared to analysts’ expectations of $3.75 billion. Baxter International had a return on equity of 18.06% and a net margin of 16.51%. The firm’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same period last year, the firm earned $0.55 EPS. On average, analysts predict that Baxter International Inc. will post 2.96 EPS for the current year.

Baxter International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, August 30th will be given a dividend of $0.29 per share. The ex-dividend date is Friday, August 30th. This represents a $1.16 dividend on an annualized basis and a yield of 3.06%. Baxter International’s payout ratio is currently 22.31%.

About Baxter International

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.