Anchor Investment Management LLC Lowers Stock Holdings in Baxter International Inc. (NYSE:BAX)

Anchor Investment Management LLC lessened its holdings in shares of Baxter International Inc. (NYSE:BAX) by 4.6% during the third quarter, HoldingsChannel reports. The firm owned 11,420 shares of the medical instruments supplier’s stock after selling 550 shares during the quarter. Anchor Investment Management LLC’s holdings in Baxter International were worth $434,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in BAX. First PREMIER Bank purchased a new stake in Baxter International in the third quarter valued at approximately $25,000. Innealta Capital LLC acquired a new position in shares of Baxter International in the 2nd quarter valued at $27,000. Fortitude Family Office LLC acquired a new stake in shares of Baxter International during the 3rd quarter worth $38,000. LRI Investments LLC raised its position in shares of Baxter International by 60.8% in the 3rd quarter. LRI Investments LLC now owns 1,560 shares of the medical instruments supplier’s stock worth $59,000 after buying an additional 590 shares during the period. Finally, Cromwell Holdings LLC purchased a new position in shares of Baxter International in the 3rd quarter worth $62,000. Institutional investors and hedge funds own 90.19% of the company’s stock.

Baxter International Trading Down 1.7 %

BAX opened at $30.32 on Friday. The firm’s 50 day moving average is $34.46 and its 200-day moving average is $35.39. Baxter International Inc. has a 52-week low of $30.06 and a 52-week 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 firm has a market capitalization of $15.48 billion, a P/E ratio of 151.61, a P/E/G ratio of 12.74 and a beta of 0.57.

Baxter International (NYSE:BAX) last released its quarterly 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 for the quarter, compared to the consensus estimate of $3.85 billion. During the same quarter in the previous year, the firm posted $0.68 EPS. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. Analysts expect that Baxter International Inc. will post 1.92 EPS for the current fiscal year.

Baxter International Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, November 29th will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date is Friday, November 29th. Baxter International’s dividend payout ratio is currently 340.02%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. StockNews.com lowered Baxter International from a “buy” rating to a “hold” rating in a research note on Monday, November 11th. 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 research report on Monday, November 11th. Finally, Citigroup reduced 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. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $40.45.

About Baxter International

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.