Bessemer Group Inc. Has $65,000 Position in Baxter International Inc. (NYSE:BAX)

Bessemer Group Inc. reduced its stake in Baxter International Inc. (NYSE:BAX) by 37.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,896 shares of the medical instruments supplier’s stock after selling 1,157 shares during the period. Bessemer Group Inc.’s holdings in Baxter International were worth $65,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Dodge & Cox boosted its stake in shares of Baxter International by 13.0% in the 4th quarter. Dodge & Cox now owns 50,377,294 shares of the medical instruments supplier’s stock valued at $1,469,002,000 after purchasing an additional 5,779,100 shares in the last quarter. Geode Capital Management LLC raised its holdings in Baxter International by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 12,446,939 shares of the medical instruments supplier’s stock valued at $362,006,000 after buying an additional 290,279 shares during the last quarter. Thompson Siegel & Walmsley LLC raised its holdings in Baxter International by 35.1% in the 4th quarter. Thompson Siegel & Walmsley LLC now owns 2,548,215 shares of the medical instruments supplier’s stock valued at $74,306,000 after buying an additional 662,042 shares during the last quarter. Sound Shore Management Inc. CT bought a new position in Baxter International in the 4th quarter valued at approximately $72,450,000. Finally, Russell Investments Group Ltd. raised its holdings in Baxter International by 40.4% in the 4th quarter. Russell Investments Group Ltd. now owns 1,745,709 shares of the medical instruments supplier’s stock valued at $50,904,000 after buying an additional 502,370 shares during the last quarter. 90.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BAX has been the subject of a number of research reports. Barclays raised their price objective on shares of Baxter International from $39.00 to $41.00 and gave the company an “overweight” rating in a report on Monday, March 10th. Morgan Stanley dropped their price objective on shares of Baxter International from $30.00 to $28.00 and set an “underweight” rating for the company in a report on Monday, May 5th. Wells Fargo & Company dropped their price objective on shares of Baxter International from $36.00 to $33.00 and set an “equal weight” rating for the company in a report on Friday, May 2nd. Finally, Wall Street Zen upgraded shares of Baxter International from a “hold” rating to a “buy” rating in a report on Sunday, June 22nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $36.14.

Baxter International Stock Down 0.2%

Baxter International stock opened at $31.08 on Friday. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.40 and a current ratio of 2.02. Baxter International Inc. has a 52-week low of $26.25 and a 52-week high of $40.49. The firm has a 50 day moving average price of $30.65 and a two-hundred day moving average price of $31.21. The firm has a market cap of $15.95 billion, a price-to-earnings ratio of -28.25, a PEG ratio of 0.92 and a beta of 0.61.

Baxter International (NYSE:BAX) last released its quarterly earnings results on Thursday, May 1st. The medical instruments supplier reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.14. Baxter International had a negative net margin of 4.71% and a positive return on equity of 17.24%. The firm had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.59 billion. During the same quarter last year, the business earned $0.65 EPS. The company’s revenue was up 5.4% compared to the same quarter last year. Equities analysts predict that Baxter International Inc. will post 2.48 EPS for the current year.

Baxter International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Friday, May 30th were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 2.19%. The ex-dividend date was Friday, May 30th. Baxter International’s dividend payout ratio (DPR) is -61.82%.

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.