Bank of New York Mellon Corp Boosts Holdings in Baxter International Inc. (NYSE:BAX)

Bank of New York Mellon Corp raised its position in Baxter International Inc. (NYSE:BAX) by 22.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,359,040 shares of the medical instruments supplier’s stock after acquiring an additional 2,803,920 shares during the period. Bank of New York Mellon Corp owned approximately 3.01% of Baxter International worth $447,870,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of BAX. Fortitude Family Office LLC purchased a new stake in shares of Baxter International during the 3rd quarter valued at $38,000. LRI Investments LLC raised its stake in Baxter International by 60.8% in the third quarter. LRI Investments LLC now owns 1,560 shares of the medical instruments supplier’s stock valued at $59,000 after buying an additional 590 shares during the last quarter. CKW Financial Group raised its stake in Baxter International by 100.0% in the third quarter. CKW Financial Group now owns 2,200 shares of the medical instruments supplier’s stock valued at $81,000 after buying an additional 1,100 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in Baxter International by 23.2% in the third quarter. Farther Finance Advisors LLC now owns 2,519 shares of the medical instruments supplier’s stock worth $96,000 after acquiring an additional 475 shares in the last quarter. Finally, Bruce G. Allen Investments LLC grew its stake in shares of Baxter International by 247.3% during the fourth 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. 90.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BAX has been the subject of several research analyst reports. StockNews.com lowered shares of Baxter International from a “buy” rating to a “hold” rating in a research report on Monday, November 11th. JPMorgan Chase & Co. decreased their price target on shares of Baxter International from $38.00 to $36.00 and set a “neutral” rating for the company in a report on Friday, February 21st. Stifel Nicolaus dropped their price objective on shares of Baxter International from $46.00 to $38.00 and set a “buy” rating on the stock in a report on Monday, November 11th. Barclays began coverage on Baxter International in a research report on Thursday, February 20th. They issued an “overweight” rating and a $39.00 target price on the stock. Finally, Citigroup lowered their price target on Baxter International from $37.00 to $35.00 and set a “neutral” rating for the company in a research report on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $38.80.

Baxter International Stock Performance

Shares of BAX stock opened at $36.00 on Wednesday. Baxter International Inc. has a 52-week low of $28.33 and a 52-week high of $44.01. 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 has a market cap of $18.38 billion, a PE ratio of -28.13, a price-to-earnings-growth ratio of 0.93 and a beta of 0.61. The business has a 50-day simple moving average of $30.89 and a 200-day simple moving average of $34.07.

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

Baxter International Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, February 28th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date of this dividend is Friday, February 28th. Baxter International’s dividend payout ratio (DPR) is presently -53.13%.

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.