Baxter International Inc. (NYSE:BAX) Shares Sold by ARGA Investment Management LP

ARGA Investment Management LP lessened its position in shares of Baxter International Inc. (NYSE:BAX) by 3.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 349,968 shares of the medical instruments supplier’s stock after selling 11,330 shares during the period. Baxter International comprises 0.4% of ARGA Investment Management LP’s investment portfolio, making the stock its 28th biggest holding. ARGA Investment Management LP’s holdings in Baxter International were worth $13,288,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of BAX. First PREMIER Bank purchased a new stake in shares of Baxter International during the 3rd quarter worth $25,000. Innealta Capital LLC purchased a new stake in Baxter International during the 2nd quarter worth about $27,000. Fortitude Family Office LLC purchased a new stake in Baxter International during the 3rd quarter worth about $38,000. Versant Capital Management Inc boosted its position in shares of Baxter International by 974.2% during the 2nd quarter. Versant Capital Management Inc now owns 1,332 shares of the medical instruments supplier’s stock worth $45,000 after acquiring an additional 1,208 shares in the last quarter. Finally, Cromwell Holdings LLC purchased a new position in shares of Baxter International in the 3rd quarter valued at about $62,000. 90.19% of the stock is owned by hedge funds and other institutional investors.

Baxter International Stock Up 1.2 %

Shares of NYSE:BAX opened at $33.71 on Friday. Baxter International Inc. has a 1-year low of $31.60 and a 1-year high of $44.01. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.43 and a quick ratio of 1.09. The stock has a market cap of $17.21 billion, a P/E ratio of 168.55, a P/E/G ratio of 13.23 and a beta of 0.60. The firm has a fifty day moving average price of $35.61 and a 200 day moving average price of $35.59.

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 the consensus estimate of $0.78 by $0.02. The business had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $3.85 billion. Baxter International had a net margin of 0.77% and a return on equity of 18.30%. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.68 earnings per share. Sell-side analysts predict that Baxter International Inc. will post 1.98 EPS for the current year.

Baxter International Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders 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 dividend yield of 2.02%. The ex-dividend date is Friday, November 29th. Baxter International’s payout ratio is currently 340.00%.

Analysts Set New Price Targets

Several research firms recently weighed in on BAX. Stifel Nicolaus decreased their target price on Baxter International from $46.00 to $38.00 and set a “buy” rating for the company in a research note on Monday, November 11th. JPMorgan Chase & Co. cut their price objective on shares of Baxter International from $44.00 to $42.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Wells Fargo & Company lowered 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. Citigroup lifted their price target on shares of Baxter International from $38.00 to $40.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 1st. Finally, StockNews.com downgraded shares of Baxter International from a “buy” rating to a “hold” rating in a research note on Monday, November 11th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $40.91.

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.