Swedbank AB Acquires Shares of 142,315 Baxter International Inc. (NYSE:BAX)

Swedbank AB acquired a new stake in shares of Baxter International Inc. (NYSE:BAX) in the first quarter, Holdings Channel reports. The firm acquired 142,315 shares of the medical instruments supplier’s stock, valued at approximately $6,083,000.

Other hedge funds have also recently modified their holdings of the company. LRI Investments LLC purchased a new position in shares of Baxter International in the first quarter worth $39,000. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Baxter International in the fourth quarter worth $37,000. Hexagon Capital Partners LLC raised its stake in shares of Baxter International by 205.4% in the fourth quarter. Hexagon Capital Partners LLC now owns 953 shares of the medical instruments supplier’s stock worth $37,000 after purchasing an additional 641 shares during the last quarter. CKW Financial Group purchased a new position in shares of Baxter International in the fourth quarter worth $43,000. Finally, United Community Bank purchased a new position in shares of Baxter International in the fourth quarter worth $43,000. Hedge funds and other institutional investors own 90.19% of the company’s stock.

Baxter International Price Performance

Shares of Baxter International stock traded down $0.74 during trading hours on Friday, hitting $35.27. The company’s stock had a trading volume of 6,025,420 shares, compared to its average volume of 5,302,119. The business has a 50 day moving average price of $34.25 and a two-hundred day moving average price of $37.98. Baxter International Inc. has a 12-month low of $31.01 and a 12-month high of $44.62. The company has a market cap of $17.97 billion, a PE ratio of 6.78, a PEG ratio of 1.88 and a beta of 0.57. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.01 and a current ratio of 1.48.

Baxter International (NYSE:BAX) last posted its earnings results on Thursday, May 2nd. The medical instruments supplier reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.04. The company had revenue of $3.59 billion for the quarter, compared to the consensus estimate of $3.55 billion. Baxter International had a return on equity of 18.47% and a net margin of 17.79%. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.59 earnings per share. Analysts expect that Baxter International Inc. will post 2.91 earnings per share for the current fiscal year.

Baxter International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, August 30th will be given a $0.29 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.29%. Baxter International’s dividend payout ratio is currently 22.31%.

Analysts Set New Price Targets

Several analysts recently commented on BAX shares. Citigroup cut their price objective on Baxter International from $38.00 to $37.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. The Goldman Sachs Group started coverage on Baxter International in a report on Thursday, May 30th. They issued a “neutral” rating and a $36.00 price objective for the company. StockNews.com raised Baxter International from a “hold” rating to a “buy” rating in a report on Thursday. TD Cowen lowered Baxter International from a “buy” rating to a “hold” rating and set a $40.00 price target for the company. in a report on Friday, May 10th. Finally, Evercore ISI cut their price target on Baxter International from $46.00 to $45.00 and set an “outperform” rating for the company in a report on Tuesday, July 2nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Baxter International has a consensus rating of “Hold” and a consensus price target of $41.70.

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.