Baxter International Inc. (NYSE:BAX) Shares Sold by RNC Capital Management LLC

RNC Capital Management LLC cut its holdings in Baxter International Inc. (NYSE:BAX) by 27.6% in the 4th quarter, HoldingsChannel reports. The fund owned 54,789 shares of the medical instruments supplier’s stock after selling 20,890 shares during the period. RNC Capital Management LLC’s holdings in Baxter International were worth $2,118,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Headinvest LLC acquired a new position in Baxter International in the 3rd quarter valued at $25,000. Indiana Trust & Investment Management CO acquired a new position in Baxter International in the 3rd quarter valued at $27,000. Bruce G. Allen Investments LLC acquired a new position in Baxter International in the 4th quarter valued at $36,000. BKM Wealth Management LLC purchased a new stake in shares of Baxter International during the 4th quarter valued at $44,000. Finally, Farther Finance Advisors LLC grew its stake in shares of Baxter International by 28.5% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,185 shares of the medical instruments supplier’s stock valued at $54,000 after buying an additional 263 shares during the period. 90.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Baxter International from $38.00 to $44.00 and gave the company a “neutral” rating in a research note on Friday, February 9th. UBS Group decreased their price target on shares of Baxter International from $40.00 to $36.00 and set a “neutral” rating for the company in a research report on Tuesday, February 6th. Bank of America upped their price target on shares of Baxter International from $42.00 to $45.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 5th. StockNews.com raised shares of Baxter International from a “hold” rating to a “buy” rating in a research report on Friday, January 19th. Finally, Barclays upped their price target on shares of Baxter International from $52.00 to $54.00 and gave the stock an “overweight” rating in a research report on Monday, February 12th. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Baxter International has a consensus rating of “Hold” and an average target price of $46.18.

Baxter International Price Performance

BAX opened at $42.69 on Thursday. The firm has a market cap of $21.68 billion, a price-to-earnings ratio of 8.18, a price-to-earnings-growth ratio of 2.25 and a beta of 0.62. Baxter International Inc. has a fifty-two week low of $31.01 and a fifty-two week high of $50.21. The company’s 50-day moving average price is $40.81 and its 200 day moving average price is $37.97. The company has a quick ratio of 1.04, a current ratio of 1.48 and a debt-to-equity ratio of 1.31.

Baxter International (NYSE:BAX) last announced its quarterly earnings results on Thursday, February 8th. The medical instruments supplier reported $0.88 EPS for the quarter, beating the consensus estimate of $0.86 by $0.02. Baxter International had a net margin of 17.77% and a return on equity of 19.49%. The company had revenue of $3.89 billion for the quarter, compared to analyst estimates of $3.81 billion. During the same quarter last year, the business earned $0.88 earnings per share. Baxter International’s revenue was up 3.5% compared to the same quarter last year. As a group, sell-side analysts expect that Baxter International Inc. will post 2.89 earnings per share for the current year.

Baxter International Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Friday, March 1st will be paid a $0.29 dividend. The ex-dividend date of this dividend is Thursday, February 29th. This represents a $1.16 annualized dividend and a dividend yield of 2.72%. Baxter International’s payout ratio is currently 22.22%.

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.