RNC Capital Management LLC Sells 41,359 Shares of Baxter International Inc. (NYSE:BAX)

RNC Capital Management LLC lessened its position in Baxter International Inc. (NYSE:BAX) by 34.6% during the 4th quarter, HoldingsChannel.com reports. The fund owned 78,193 shares of the medical instruments supplier’s stock after selling 41,359 shares during the period. RNC Capital Management LLC’s holdings in Baxter International were worth $2,280,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently bought and sold shares of the company. Coho Partners Ltd. acquired a new stake in Baxter International in the 3rd quarter worth $57,229,000. ARGA Investment Management LP grew its position in Baxter International by 148.8% in the 4th quarter. ARGA Investment Management LP now owns 870,601 shares of the medical instruments supplier’s stock worth $25,387,000 after purchasing an additional 520,633 shares during the last quarter. National Pension Service grew its position in Baxter International by 22.1% in the 3rd quarter. National Pension Service now owns 1,154,616 shares of the medical instruments supplier’s stock worth $43,841,000 after purchasing an additional 208,726 shares during the last quarter. Geode Capital Management LLC grew its position in 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 worth $460,022,000 after purchasing an additional 170,776 shares during the last quarter. Finally, Forsta AP Fonden grew its position in Baxter International by 140.5% in the 4th quarter. Forsta AP Fonden now owns 273,900 shares of the medical instruments supplier’s stock worth $7,987,000 after purchasing an additional 160,000 shares during the last quarter. Institutional investors own 90.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on BAX. Citigroup decreased their price target on shares of Baxter International from $37.00 to $35.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 11th. Stifel Nicolaus decreased their target price on shares of 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, StockNews.com lowered shares of Baxter International from a “buy” rating to a “hold” rating in a research report on Monday, November 11th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Baxter International currently has an average rating of “Hold” and a consensus price target of $40.90.

Baxter International Price Performance

NYSE:BAX opened at $30.84 on Friday. The firm has a market cap of $15.74 billion, a PE ratio of 154.18, a price-to-earnings-growth ratio of 10.39 and a beta of 0.61. Baxter International Inc. has a 12 month low of $28.33 and a 12 month high of $44.01. 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 company’s 50-day moving average price is $30.87 and its two-hundred day moving average price is $34.48.

Baxter International (NYSE:BAX) last announced its earnings results on Friday, November 8th. The medical instruments supplier reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.02. Baxter International had a net margin of 0.77% and a return on equity of 18.30%. The company had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $3.85 billion. During the same period in the previous year, the firm posted $0.68 earnings per share. The company’s revenue was up 3.8% on a year-over-year basis. On average, equities analysts anticipate that Baxter International Inc. will post 1.83 EPS for the current fiscal year.

Baxter International Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, November 29th were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date was Friday, November 29th. Baxter International’s dividend payout ratio is presently 340.02%.

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.