Cullen Capital Management LLC Reduces Position in Baxter International Inc. (NYSE:BAX)

Cullen Capital Management LLC lowered its stake in Baxter International Inc. (NYSE:BAX) by 4.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,386,281 shares of the medical instruments supplier’s stock after selling 63,756 shares during the period. Cullen Capital Management LLC owned 0.27% of Baxter International worth $40,424,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in BAX. CoreFirst Bank & Trust acquired a new position in shares of Baxter International in the 4th quarter valued at $26,000. Riverview Trust Co increased its holdings in shares of Baxter International by 5,488.2% in the fourth quarter. Riverview Trust Co now owns 950 shares of the medical instruments supplier’s stock valued at $28,000 after purchasing an additional 933 shares during the period. LRI Investments LLC raised its stake in shares of Baxter International by 60.8% in the third quarter. LRI Investments LLC now owns 1,560 shares of the medical instruments supplier’s stock worth $59,000 after purchasing an additional 590 shares during the last quarter. Bruce G. Allen Investments LLC lifted its holdings 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 purchasing an additional 1,867 shares during the period. Finally, CKW Financial Group lifted its holdings in shares of Baxter International by 19.3% during the fourth quarter. CKW Financial Group now owns 2,625 shares of the medical instruments supplier’s stock worth $77,000 after purchasing an additional 425 shares during the period. 90.19% of the stock is currently owned by institutional investors and hedge funds.

Baxter International Stock Performance

NYSE BAX opened at $28.77 on Friday. 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 Inc. has a twelve month low of $28.34 and a twelve month high of $42.86. The stock has a 50-day moving average of $33.25 and a 200 day moving average of $33.45. The stock has a market capitalization of $14.76 billion, a price-to-earnings ratio of -22.48, a PEG ratio of 0.93 and a beta of 0.60.

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 analysts’ consensus estimates of $0.52 by $0.06. The firm had revenue of $2.75 billion for the quarter, compared to analyst estimates of $2.67 billion. Baxter International had a positive return on equity of 16.67% and a negative net margin of 5.05%. Sell-side analysts anticipate that Baxter International Inc. will post 2.48 EPS for the current fiscal year.

Baxter International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, February 28th were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.68 annualized dividend and a dividend yield of 2.36%. Baxter International’s dividend payout ratio (DPR) is presently -53.13%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Barclays raised their price target on shares of Baxter International from $39.00 to $41.00 and gave the stock an “overweight” rating in a research report on Monday, March 10th. Citigroup decreased their target price on shares of Baxter International from $37.00 to $35.00 and set a “neutral” rating for the company in a research report on Wednesday, December 11th. The Goldman Sachs Group assumed coverage on Baxter International in a research report on Wednesday, February 26th. They set a “buy” rating and a $42.00 price target on the stock. Argus upgraded Baxter International from a “hold” rating to a “buy” rating in a research note on Monday, February 24th. Finally, JPMorgan Chase & Co. reduced their price target on Baxter International from $38.00 to $36.00 and set a “neutral” rating for the company in a research report on Friday, February 21st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price 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.