Transcend Capital Advisors LLC Sells 2,010 Shares of Baxter International Inc. (NYSE:BAX)

Transcend Capital Advisors LLC cut its stake in shares of Baxter International Inc. (NYSE:BAX) by 19.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,168 shares of the medical instruments supplier’s stock after selling 2,010 shares during the quarter. Transcend Capital Advisors LLC’s holdings in Baxter International were worth $273,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Carmignac Gestion increased its holdings in shares of Baxter International by 9.5% during the fourth quarter. Carmignac Gestion now owns 5,311,012 shares of the medical instruments supplier’s stock worth $205,324,000 after buying an additional 462,239 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in Baxter International by 20.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,400 shares of the medical instruments supplier’s stock worth $93,000 after acquiring an additional 406 shares during the last quarter. Gabelli Funds LLC increased its position in Baxter International by 9.6% in the 1st quarter. Gabelli Funds LLC now owns 286,200 shares of the medical instruments supplier’s stock valued at $12,232,000 after acquiring an additional 25,000 shares during the period. Van ECK Associates Corp acquired a new position in shares of Baxter International during the first quarter worth $2,185,000. Finally, Russell Investments Group Ltd. grew its stake in shares of Baxter International by 7.6% in the first quarter. Russell Investments Group Ltd. now owns 1,206,242 shares of the medical instruments supplier’s stock worth $51,553,000 after purchasing an additional 84,808 shares during the last quarter. Institutional investors own 90.19% of the company’s stock.

Wall Street Analyst Weigh In

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

Baxter International Stock Performance

Shares of NYSE:BAX traded down $0.46 during midday trading on Monday, reaching $34.81. The company had a trading volume of 2,959,540 shares, compared to its average volume of 4,193,118. The stock has a market cap of $17.74 billion, a P/E ratio of 6.58, a P/E/G ratio of 1.88 and a beta of 0.57. The company’s 50 day moving average price is $34.25 and its 200 day moving average price is $37.96. The company has a current ratio of 1.48, a quick ratio of 1.01 and a debt-to-equity ratio of 1.35. Baxter International Inc. has a 52-week low of $31.01 and a 52-week high of $44.31.

Baxter International (NYSE:BAX) last posted its quarterly 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. Baxter International had a net margin of 17.79% and a return on equity of 18.47%. The company had revenue of $3.59 billion for the quarter, compared to analysts’ expectations of $3.55 billion. During the same quarter in the previous year, the firm posted $0.59 EPS. Baxter International’s revenue was down 1.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Baxter International Inc. will post 2.91 EPS for the current fiscal year.

Baxter International Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, August 30th will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 3.33%. The ex-dividend date is Friday, August 30th. Baxter International’s dividend payout ratio (DPR) is currently 22.31%.

Baxter International 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.