Baxter International Inc. (NYSE:BAX) Shares Purchased by Bank of New York Mellon Corp

Bank of New York Mellon Corp boosted its position in Baxter International Inc. (NYSE:BAX) by 73.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,772,533 shares of the medical instruments supplier’s stock after purchasing an additional 2,862,626 shares during the quarter. Bank of New York Mellon Corp owned about 1.33% of Baxter International worth $226,541,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Nisa Investment Advisors LLC increased its stake in shares of Baxter International by 2.2% during the 2nd quarter. Nisa Investment Advisors LLC now owns 95,997 shares of the medical instruments supplier’s stock valued at $3,239,000 after acquiring an additional 2,072 shares during the last quarter. ORG Partners LLC grew its holdings in shares of Baxter International by 8,313.8% during the 2nd quarter. ORG Partners LLC now owns 4,880 shares of the medical instruments supplier’s stock worth $161,000 after purchasing an additional 4,822 shares during the period. SG Americas Securities LLC grew its holdings in shares of Baxter International by 68.2% during the 2nd quarter. SG Americas Securities LLC now owns 156,264 shares of the medical instruments supplier’s stock worth $5,227,000 after purchasing an additional 63,352 shares during the period. Kingswood Wealth Advisors LLC grew its holdings in shares of Baxter International by 4.6% during the 2nd quarter. Kingswood Wealth Advisors LLC now owns 7,759 shares of the medical instruments supplier’s stock worth $260,000 after purchasing an additional 343 shares during the period. Finally, Burns Matteson Capital Management LLC purchased a new stake in shares of Baxter International during the 2nd quarter worth about $287,000. Institutional investors and hedge funds own 90.19% of the company’s stock.

Baxter International Stock Performance

Shares of BAX stock traded up $0.39 on Monday, hitting $37.93. 2,397,133 shares of the stock traded hands, compared to its average volume of 4,241,662. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.48 and a quick ratio of 1.01. The company has a market capitalization of $19.33 billion, a PE ratio of 7.33, a PEG ratio of 1.88 and a beta of 0.57. Baxter International Inc. has a 1-year low of $31.01 and a 1-year high of $44.01. The company’s fifty day moving average is $35.09 and its 200 day moving average is $37.70.

Baxter International (NYSE:BAX) last posted its quarterly earnings results on Tuesday, August 6th. The medical instruments supplier reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.02. Baxter International had a return on equity of 18.47% and a net margin of 17.79%. The business had revenue of $3.81 billion for the quarter, compared to analyst estimates of $3.75 billion. During the same period in the prior year, the company posted $0.55 EPS. The business’s revenue was up 2.8% compared to the same quarter last year. On average, equities research analysts predict that Baxter International Inc. will post 2.91 earnings per share for the current fiscal year.

Baxter International Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, August 30th will be given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 3.06%. The ex-dividend date of this dividend is Friday, August 30th. Baxter International’s dividend payout ratio is presently 22.31%.

Analysts Set New Price Targets

A number of research firms have weighed in on BAX. StockNews.com upgraded Baxter International from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Wells Fargo & Company decreased their price target on Baxter International from $44.00 to $40.00 and set an “equal weight” rating for the company in a report on Wednesday, August 7th. The Goldman Sachs Group increased their target price on Baxter International from $36.00 to $40.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. Morgan Stanley cut Baxter International from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $39.00 to $30.00 in a research note on Monday, July 15th. Finally, Evercore ISI reduced their target price on Baxter International from $46.00 to $45.00 and set an “outperform” rating for the company in a research note on Tuesday, July 2nd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Baxter International presently has an average rating of “Hold” and a consensus target price of $41.73.

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.