Private Trust Co. NA Sells 848 Shares of Baxter International Inc. (NYSE:BAX)

Private Trust Co. NA trimmed its holdings in Baxter International Inc. (NYSE:BAX) by 14.3% during the 3rd quarter, Holdings Channel.com reports. The fund owned 5,084 shares of the medical instruments supplier’s stock after selling 848 shares during the period. Private Trust Co. NA’s holdings in Baxter International were worth $193,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. LRI Investments LLC bought a new stake in Baxter International during the 1st quarter valued at approximately $39,000. Swedbank AB bought a new stake in shares of Baxter International during the first quarter valued at approximately $6,083,000. Garde Capital Inc. purchased a new position in shares of Baxter International in the first quarter worth $101,000. Massmutual Trust Co. FSB ADV boosted its position in shares of Baxter International by 23.0% during the second quarter. Massmutual Trust Co. FSB ADV now owns 2,544 shares of the medical instruments supplier’s stock worth $85,000 after acquiring an additional 475 shares during the last quarter. Finally, DNB Asset Management AS grew its stake in Baxter International by 1.8% during the second quarter. DNB Asset Management AS now owns 80,451 shares of the medical instruments supplier’s stock valued at $2,691,000 after acquiring an additional 1,454 shares in the last quarter. Institutional investors own 90.19% of the company’s stock.

Baxter International Stock Up 1.3 %

Shares of BAX opened at $33.31 on Friday. 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 fifty day moving average of $35.70 and a 200 day moving average of $35.60. The company has a market cap of $17.01 billion, a PE ratio of 166.56, a P/E/G ratio of 13.27 and a beta of 0.60. Baxter International Inc. has a 52-week low of $31.60 and a 52-week high of $44.01.

Baxter International (NYSE:BAX) last released its earnings results on Friday, November 8th. The medical instruments supplier reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.02. Baxter International had a net margin of 0.77% and a return on equity of 18.30%. The firm had revenue of $3.85 billion during the quarter, compared to analyst estimates of $3.85 billion. During the same quarter last year, the business earned $0.68 EPS. The business’s revenue was up 3.8% on a year-over-year basis. On average, sell-side analysts expect that Baxter International Inc. will post 1.98 EPS for the current year.

Baxter International Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, November 29th will be given a dividend of $0.17 per share. The ex-dividend date is Friday, November 29th. This represents a $0.68 annualized dividend and a dividend yield of 2.04%. Baxter International’s dividend payout ratio (DPR) is presently 580.03%.

Analysts Set New Price Targets

Several research firms have commented on BAX. The Goldman Sachs Group increased their price objective on shares of Baxter International from $36.00 to $40.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. Citigroup increased their price target on Baxter International from $38.00 to $40.00 and gave the company a “neutral” rating in a research note on Tuesday, October 1st. StockNews.com downgraded Baxter International from a “buy” rating to a “hold” rating in a research note on Monday, November 11th. JPMorgan Chase & Co. decreased their price objective on Baxter International from $44.00 to $42.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Finally, Wells Fargo & Company cut their target price on shares of Baxter International from $44.00 to $40.00 and set an “equal weight” rating for the company in a report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Baxter International presently has an average rating of “Hold” and an average price target of $40.91.

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.