Cornercap Investment Counsel Inc. Has $1.16 Million Holdings in Baxter International Inc. (NYSE:BAX)

Cornercap Investment Counsel Inc. trimmed its holdings in shares of Baxter International Inc. (NYSE:BAX) by 4.5% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 39,819 shares of the medical instruments supplier’s stock after selling 1,857 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Baxter International were worth $1,161,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in BAX. CoreFirst Bank & Trust bought a new position in Baxter International during the fourth quarter worth about $26,000. Riverview Trust Co raised its stake in Baxter International by 5,488.2% during the 4th quarter. Riverview Trust Co now owns 950 shares of the medical instruments supplier’s stock worth $28,000 after buying an additional 933 shares during the period. LRI Investments LLC lifted 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 in the last quarter. Bruce G. Allen Investments LLC boosted its position 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 buying an additional 1,867 shares during the period. Finally, CKW Financial Group increased its stake in Baxter International by 19.3% in the 4th quarter. CKW Financial Group now owns 2,625 shares of the medical instruments supplier’s stock valued at $77,000 after buying an additional 425 shares during the last quarter. 90.19% of the stock is currently owned by institutional investors and hedge funds.

Baxter International Price Performance

Baxter International stock opened at $33.76 on Friday. 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 $17.27 billion, a price-to-earnings ratio of -26.37, a price-to-earnings-growth ratio of 0.93 and a beta of 0.60. The firm has a 50-day moving average of $33.19 and a two-hundred day moving average of $33.69. Baxter International Inc. has a 1 year low of $28.34 and a 1 year high of $43.99.

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

Baxter International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, February 28th will be given a $0.17 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.68 annualized dividend and a dividend yield of 2.01%. Baxter International’s dividend payout ratio (DPR) is -53.13%.

Analyst Ratings Changes

BAX has been the subject of several research analyst reports. Barclays lifted their target price on Baxter International from $39.00 to $41.00 and gave the stock an “overweight” rating in a research note on Monday, March 10th. Citigroup decreased their target price on Baxter International from $37.00 to $35.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 11th. JPMorgan Chase & Co. dropped their price objective 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. The Goldman Sachs Group started coverage on shares of Baxter International in a research note on Wednesday, February 26th. They issued a “buy” rating and a $42.00 price objective on the stock. Finally, Argus upgraded shares of Baxter International from a “hold” rating to a “buy” rating in a report on Monday, February 24th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Baxter International has a consensus rating of “Hold” and a consensus price target of $38.56.

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.