Brown Brothers Harriman & Co. Trims Position in Baxter International Inc. (NYSE:BAX)

Brown Brothers Harriman & Co. lessened its holdings in Baxter International Inc. (NYSE:BAX) by 13.9% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 15,770 shares of the medical instruments supplier’s stock after selling 2,554 shares during the period. Brown Brothers Harriman & Co.’s holdings in Baxter International were worth $460,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. CoreFirst Bank & Trust bought a new stake in Baxter International during the fourth quarter worth about $26,000. Riverview Trust Co lifted its stake in shares of Baxter International by 5,488.2% in the 4th quarter. Riverview Trust Co now owns 950 shares of the medical instruments supplier’s stock valued at $28,000 after acquiring an additional 933 shares during the last quarter. LRI Investments LLC boosted its holdings in Baxter International by 60.8% during the 3rd quarter. LRI Investments LLC now owns 1,560 shares of the medical instruments supplier’s stock valued at $59,000 after acquiring an additional 590 shares during the period. Bruce G. Allen Investments LLC grew its position in Baxter International by 247.3% during the 4th quarter. Bruce G. Allen Investments LLC now owns 2,622 shares of the medical instruments supplier’s stock worth $76,000 after acquiring an additional 1,867 shares during the last quarter. Finally, CKW Financial Group increased its stake in Baxter International by 19.3% in the 4th quarter. CKW Financial Group now owns 2,625 shares of the medical instruments supplier’s stock worth $77,000 after purchasing an additional 425 shares during the period. Hedge funds and other institutional investors own 90.19% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on BAX. Barclays raised their target price on shares of Baxter International from $39.00 to $41.00 and gave the stock an “overweight” rating in a report on Monday, March 10th. The Goldman Sachs Group initiated coverage on shares of Baxter International in a report on Wednesday, February 26th. They set a “buy” rating and a $42.00 target price for the company. JPMorgan Chase & Co. cut their target price on Baxter International from $38.00 to $36.00 and set a “neutral” rating on the stock in a research note on Friday, February 21st. Argus upgraded Baxter International from a “hold” rating to a “buy” rating in a report on Monday, February 24th. Finally, Citigroup decreased their price target on shares of Baxter International from $37.00 to $35.00 and set a “neutral” rating for the company in a research note on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $38.56.

Baxter International Stock Performance

Baxter International stock opened at $34.28 on Tuesday. Baxter International Inc. has a twelve month low of $28.34 and a twelve month high of $43.99. 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 stock’s 50 day moving average is $33.26 and its 200 day moving average is $33.58. The company has a market capitalization of $17.58 billion, a P/E ratio of -26.78, a PEG ratio of 0.93 and a beta of 0.60.

Baxter International (NYSE:BAX) last announced its quarterly earnings results on Thursday, February 20th. The medical instruments supplier reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.06. The company had revenue of $2.75 billion during the quarter, compared to the consensus estimate of $2.67 billion. Baxter International had a negative net margin of 5.05% and a positive return on equity of 16.67%. On average, equities research analysts predict that Baxter International Inc. will post 2.48 earnings per share for the current fiscal year.

Baxter International Announces Dividend

The business 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 dividend of $0.17 per share. The ex-dividend date is Friday, February 28th. This represents a $0.68 dividend on an annualized basis and a yield of 1.98%. Baxter International’s dividend payout ratio (DPR) is -53.13%.

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.