Baxter International Inc. (NYSE:BAX) Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp grew its holdings in Baxter International Inc. (NYSE:BAX) by 22.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,359,040 shares of the medical instruments supplier’s stock after buying an additional 2,803,920 shares during the quarter. Bank of New York Mellon Corp’s holdings in Baxter International were worth $447,870,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. ARGA Investment Management LP grew its stake 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 valued at $25,387,000 after acquiring an additional 520,633 shares during the period. National Pension Service grew its position in shares of Baxter International by 22.1% in the third quarter. National Pension Service now owns 1,154,616 shares of the medical instruments supplier’s stock valued at $43,841,000 after purchasing an additional 208,726 shares during the period. Geode Capital Management LLC grew its position in shares of Baxter International by 1.4% in the third 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. Forsta AP Fonden increased its stake in shares of Baxter International by 140.5% during the fourth 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 in the last quarter. Finally, Stoneridge Investment Partners LLC acquired a new position in shares of Baxter International during the 4th quarter worth about $2,328,000. 90.19% of the stock is owned by institutional investors and hedge funds.

Baxter International Trading Up 2.6 %

Shares of BAX stock opened at $36.00 on Wednesday. The company has a current ratio of 1.43, a quick ratio of 1.09 and a debt-to-equity ratio of 1.31. Baxter International Inc. has a twelve month low of $28.33 and a twelve month high of $44.01. The company’s 50-day moving average price is $30.89 and its 200-day moving average price is $34.07. The stock has a market cap of $18.38 billion, a price-to-earnings ratio of -28.13, a PEG ratio of 0.93 and a beta of 0.61.

Baxter International (NYSE:BAX) last issued its earnings results on Thursday, February 20th. The medical instruments supplier reported $0.58 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 for the quarter, compared to the consensus estimate of $2.67 billion. As a group, equities analysts predict that Baxter International Inc. will post 2.48 earnings per share for the current year.

Baxter International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, February 28th will be given a $0.17 dividend. The ex-dividend date is Friday, February 28th. This represents a $0.68 annualized dividend and a yield of 1.89%. Baxter International’s payout ratio is -53.13%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on BAX shares. Argus upgraded Baxter International from a “hold” rating to a “buy” rating in a report on Monday. Citigroup lowered their price target on Baxter International from $37.00 to $35.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 11th. JPMorgan Chase & Co. reduced their price objective on Baxter International from $38.00 to $36.00 and set a “neutral” rating for the company in a research note on Friday, February 21st. Barclays began coverage on Baxter International in a report on Thursday, February 20th. They issued an “overweight” rating and a $39.00 price objective on the stock. Finally, Stifel Nicolaus dropped their target price on shares of Baxter International from $46.00 to $38.00 and set a “buy” rating for the company in a report on Monday, November 11th. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Baxter International currently has an average rating of “Hold” and an average target price of $38.80.

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.