Handelsbanken Fonder AB Grows Stock Position in Baxter International Inc. (NYSE:BAX)

Handelsbanken Fonder AB lifted its stake in Baxter International Inc. (NYSE:BAX) by 15.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 232,651 shares of the medical instruments supplier’s stock after buying an additional 30,832 shares during the period. Handelsbanken Fonder AB’s holdings in Baxter International were worth $8,994,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of BAX. Headinvest LLC bought a new stake in shares of Baxter International in the third quarter worth about $25,000. Bruce G. Allen Investments LLC bought a new stake in shares of Baxter International in the fourth quarter worth about $36,000. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Baxter International in the fourth quarter worth about $37,000. CKW Financial Group bought a new stake in shares of Baxter International in the fourth quarter worth about $43,000. Finally, BKM Wealth Management LLC bought a new stake in shares of Baxter International in the fourth quarter worth about $44,000. Hedge funds and other institutional investors own 90.19% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Barclays raised their target price on Baxter International from $52.00 to $54.00 and gave the stock an “overweight” rating in a research note 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. Bank of America lifted their price objective on Baxter International from $42.00 to $45.00 and gave the company a “neutral” rating in a research report on Tuesday, March 5th. Citigroup boosted their price target on Baxter International from $41.00 to $44.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 3rd. Finally, 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. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Baxter International has an average rating of “Hold” and a consensus target price of $46.30.

Baxter International Price Performance

Shares of BAX opened at $40.93 on Thursday. The firm has a market cap of $20.79 billion, a PE ratio of 7.84, a P/E/G ratio of 2.17 and a beta of 0.62. The company has a current ratio of 1.48, a quick ratio of 1.04 and a debt-to-equity ratio of 1.31. The firm has a fifty day simple moving average of $41.86 and a two-hundred day simple moving average of $38.50. Baxter International Inc. has a 1-year low of $31.01 and a 1-year high of $50.21.

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

Baxter International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 1st were paid a dividend of $0.29 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $1.16 dividend on an annualized basis and a yield of 2.83%. Baxter International’s dividend payout ratio is presently 22.22%.

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.