Whittier Trust Co. Cuts Stake in Baxter International Inc. (NYSE:BAX)

Whittier Trust Co. reduced its holdings in shares of Baxter International Inc. (NYSE:BAX) by 21.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,884 shares of the medical instruments supplier’s stock after selling 500 shares during the period. Whittier Trust Co.’s holdings in Baxter International were worth $55,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in BAX. Bank of New York Mellon Corp grew its holdings in shares of Baxter International by 22.3% during the 4th quarter. Bank of New York Mellon Corp now owns 15,359,040 shares of the medical instruments supplier’s stock valued at $447,870,000 after purchasing an additional 2,803,920 shares during the last quarter. Thompson Siegel & Walmsley LLC boosted its position in Baxter International by 35.1% during the fourth 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 period. ARGA Investment Management LP grew its stake in shares of Baxter International by 148.8% during the fourth quarter. ARGA Investment Management LP now owns 870,601 shares of the medical instruments supplier’s stock valued at $25,387,000 after buying an additional 520,633 shares during the last quarter. Amundi increased its holdings in shares of Baxter International by 41.1% in the fourth quarter. Amundi now owns 1,319,274 shares of the medical instruments supplier’s stock worth $39,037,000 after buying an additional 384,349 shares during the period. Finally, 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 acquiring an additional 170,776 shares during the last quarter. 90.19% of the stock is owned by hedge funds and other institutional investors.

Baxter International Stock Up 1.3 %

Shares of NYSE BAX opened at $33.63 on Tuesday. The firm has a fifty day simple moving average of $32.97 and a two-hundred day simple moving average of $33.78. Baxter International Inc. has a 12 month low of $28.34 and a 12 month high of $43.99. The company has a current ratio of 1.43, a quick ratio of 1.09 and a debt-to-equity ratio of 1.31. The firm has a market capitalization of $17.20 billion, a PE ratio of -26.27, a price-to-earnings-growth ratio of 0.93 and a beta of 0.60.

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

Baxter International Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, February 28th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.68 annualized dividend and a dividend yield of 2.02%. Baxter International’s dividend payout ratio is presently -53.13%.

Analysts Set New Price Targets

BAX has been the topic of several recent research reports. JPMorgan Chase & Co. reduced their price target on Baxter International from $38.00 to $36.00 and set a “neutral” rating on the stock in a research report on Friday, February 21st. The Goldman Sachs Group started coverage on shares of Baxter International in a report on Wednesday, February 26th. They issued a “buy” rating and a $42.00 target price on the stock. Barclays upped their price target 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. Citigroup dropped their price target on shares of Baxter International from $37.00 to $35.00 and set a “neutral” rating for the company in a research report on Wednesday, December 11th. Finally, Argus upgraded shares of Baxter International from a “hold” rating to a “buy” rating in a research report on Monday, February 24th. One analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $38.56.

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.