Baxter International Inc. (NYSE:BAX) Shares Sold by Amalgamated Bank

Amalgamated Bank lowered its stake in shares of Baxter International Inc. (NYSE:BAX) by 2.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 98,221 shares of the medical instruments supplier’s stock after selling 1,960 shares during the period. Amalgamated Bank’s holdings in Baxter International were worth $2,864,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Sumitomo Mitsui Trust Group Inc. raised its position in Baxter International by 1.9% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,160,666 shares of the medical instruments supplier’s stock valued at $33,845,000 after acquiring an additional 21,592 shares in the last quarter. Nicholas Hoffman & Company LLC. purchased a new position in shares of Baxter International during the 4th quarter valued at approximately $907,000. Geode Capital Management LLC lifted its stake in shares of Baxter International by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 12,156,660 shares of the medical instruments supplier’s stock valued at $460,022,000 after purchasing an additional 170,776 shares during the period. Bank of New York Mellon Corp boosted its holdings in Baxter International by 22.3% during the fourth quarter. Bank of New York Mellon Corp now owns 15,359,040 shares of the medical instruments supplier’s stock worth $447,870,000 after buying an additional 2,803,920 shares in the last quarter. Finally, Entropy Technologies LP grew its position in Baxter International by 213.5% during the third quarter. Entropy Technologies LP now owns 23,192 shares of the medical instruments supplier’s stock valued at $881,000 after buying an additional 15,794 shares during the period. Institutional investors and hedge funds own 90.19% of the company’s stock.

Baxter International Price Performance

NYSE:BAX opened at $34.50 on Friday. Baxter International Inc. has a 52 week low of $28.33 and a 52 week high of $44.01. The stock’s fifty day moving average is $31.23 and its two-hundred day moving average is $34.07. The company has a market capitalization of $17.65 billion, a P/E ratio of -26.95, a P/E/G ratio of 0.93 and a beta of 0.61. The company has a quick ratio of 1.09, a current ratio of 1.43 and a debt-to-equity ratio of 1.31.

Baxter International (NYSE:BAX) last posted its earnings results on Thursday, February 20th. The medical instruments supplier reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.06. The company had revenue of $2.75 billion for the quarter, compared to analysts’ expectations of $2.67 billion. Baxter International had a negative net margin of 5.05% and a positive return on equity of 16.67%. Equities analysts expect that Baxter International Inc. will post 2.48 EPS for the current year.

Baxter International Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, February 28th will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date is Friday, February 28th. Baxter International’s dividend payout ratio (DPR) is -53.13%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on BAX. StockNews.com downgraded shares of Baxter International from a “buy” rating to a “hold” rating in a research report on Monday, November 11th. The Goldman Sachs Group began coverage on Baxter International in a research report on Wednesday. They set a “buy” rating and a $42.00 price target on the stock. Citigroup cut their price objective on Baxter International from $37.00 to $35.00 and set a “neutral” rating for the company in a research report on Wednesday, December 11th. Stifel Nicolaus decreased their target price on Baxter International from $46.00 to $38.00 and set a “buy” rating on the stock in a research report on Monday, November 11th. Finally, JPMorgan Chase & Co. cut their price target on shares of Baxter International from $38.00 to $36.00 and set a “neutral” rating for the company in a report on Friday, February 21st. One analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $39.00.

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.