Bartlett & CO. Wealth Management LLC Cuts Stock Position in Baxter International Inc. (NYSE:BAX)

Bartlett & CO. Wealth Management LLC cut its position in shares of Baxter International Inc. (NYSE:BAX) by 20.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,533 shares of the medical instruments supplier’s stock after selling 2,720 shares during the quarter. Bartlett & CO. Wealth Management LLC’s holdings in Baxter International were worth $309,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of BAX. First PREMIER Bank bought a new position in Baxter International during the third quarter valued at approximately $25,000. Fortitude Family Office LLC purchased a new stake in shares of Baxter International in the 3rd quarter valued at $38,000. LRI Investments LLC grew its holdings in shares of 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 purchasing an additional 590 shares during the last quarter. Cromwell Holdings LLC purchased a new position in Baxter International in the 3rd quarter worth $62,000. Finally, Bruce G. Allen Investments LLC lifted its stake in Baxter International by 247.3% in the fourth quarter. Bruce G. Allen Investments LLC now owns 2,622 shares of the medical instruments supplier’s stock worth $76,000 after purchasing an additional 1,867 shares during the last quarter. 90.19% of the stock is owned by hedge funds and other institutional investors.

Baxter International Trading Down 0.0 %

Shares of BAX opened at $32.45 on Friday. Baxter International Inc. has a 1-year low of $28.33 and a 1-year high of $44.01. The firm has a market capitalization of $16.57 billion, a price-to-earnings ratio of 162.23, a PEG ratio of 10.15 and a beta of 0.59. The firm’s 50-day moving average price is $30.96 and its 200-day moving average price is $34.64. 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 (NYSE:BAX) last posted its quarterly earnings data on Friday, November 8th. The medical instruments supplier reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.02. The business had revenue of $3.85 billion for the quarter, compared to analysts’ expectations of $3.85 billion. Baxter International had a return on equity of 18.30% and a net margin of 0.77%. The business’s revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.68 EPS. Sell-side analysts anticipate that Baxter International Inc. will post 1.83 EPS for the current year.

Baxter International Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, November 29th were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date of this dividend was Friday, November 29th. Baxter International’s dividend payout ratio (DPR) is presently 340.02%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on BAX shares. Stifel Nicolaus decreased their price objective on Baxter International from $46.00 to $38.00 and set a “buy” rating on the stock in a report on Monday, November 11th. StockNews.com cut Baxter International from a “buy” rating to a “hold” rating in a research note on Monday, November 11th. Finally, Citigroup cut their target price on shares of Baxter International from $37.00 to $35.00 and set a “neutral” rating on the stock in a report on Wednesday, December 11th. 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. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price 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.