Bruce G. Allen Investments LLC Boosts Position in Baxter International Inc. (NYSE:BAX)

Bruce G. Allen Investments LLC raised its position in Baxter International Inc. (NYSE:BAX) by 35.2% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,546 shares of the medical instruments supplier’s stock after acquiring an additional 924 shares during the quarter. Bruce G. Allen Investments LLC’s holdings in Baxter International were worth $121,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of BAX. Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Baxter International by 1.9% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,160,666 shares of the medical instruments supplier’s stock worth $33,845,000 after purchasing an additional 21,592 shares during the period. Stoneridge Investment Partners LLC purchased a new stake in Baxter International during the fourth quarter valued at approximately $2,328,000. Van ECK Associates Corp increased its holdings in Baxter International by 10.2% during the fourth quarter. Van ECK Associates Corp now owns 68,198 shares of the medical instruments supplier’s stock valued at $1,989,000 after buying an additional 6,320 shares during the last quarter. Rhumbline Advisers raised its position in Baxter International by 1.2% in the fourth quarter. Rhumbline Advisers now owns 1,113,125 shares of the medical instruments supplier’s stock worth $32,459,000 after acquiring an additional 13,424 shares during the period. Finally, Nicholas Hoffman & Company LLC. purchased a new position in shares of Baxter International during the 4th quarter worth $907,000. 90.19% of the stock is owned by hedge funds and other institutional investors.

Baxter International Stock Performance

NYSE BAX opened at $30.27 on Monday. The firm has a market cap of $15.53 billion, a price-to-earnings ratio of -23.65, a price-to-earnings-growth 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. The business has a 50-day moving average price of $30.10 and a 200-day moving average price of $31.40. Baxter International Inc. has a twelve month low of $26.25 and a twelve month high of $40.49.

Baxter International (NYSE:BAX) last posted its quarterly earnings results on Thursday, May 1st. The medical instruments supplier reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.14. Baxter International had a positive return on equity of 16.67% and a negative net margin of 5.05%. The company had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.59 billion. During the same period in the previous year, the firm earned $0.65 EPS. The firm’s revenue was up 5.4% compared to the same quarter last year. As a group, equities research analysts predict that Baxter International Inc. will post 2.48 EPS for the current fiscal year.

Baxter International Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, May 30th will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.68 annualized dividend and a yield of 2.25%. Baxter International’s payout ratio is -61.82%.

Analyst Ratings Changes

Several research firms have recently commented on BAX. Barclays upped their price objective on Baxter International from $39.00 to $41.00 and gave the stock an “overweight” rating in a research note on Monday, March 10th. Wells Fargo & Company reduced their price target on Baxter International from $36.00 to $33.00 and set an “equal weight” rating for the company in a research report on Friday, May 2nd. Argus raised Baxter International from a “hold” rating to a “buy” rating in a research note on Monday, February 24th. Morgan Stanley cut their price objective on Baxter International from $30.00 to $28.00 and set an “underweight” rating for the company in a research note on Monday, May 5th. Finally, The Goldman Sachs Group initiated coverage on shares of Baxter International in a report on Wednesday, February 26th. They issued a “buy” rating and a $42.00 target price for the company. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $37.25.

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.