Stoneridge Investment Partners LLC Acquires Shares of 79,841 Baxter International Inc. (NYSE:BAX)

Stoneridge Investment Partners LLC acquired a new stake in shares of Baxter International Inc. (NYSE:BAX) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 79,841 shares of the medical instruments supplier’s stock, valued at approximately $2,328,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Sumitomo Mitsui Trust Group Inc. grew its stake in Baxter International by 1.9% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,160,666 shares of the medical instruments supplier’s stock valued at $33,845,000 after buying an additional 21,592 shares in the last quarter. ARGA Investment Management LP lifted its holdings in shares of Baxter International by 148.8% in the fourth quarter. ARGA Investment Management LP now owns 870,601 shares of the medical instruments supplier’s stock worth $25,387,000 after buying an additional 520,633 shares in the last quarter. Forsta AP Fonden boosted its position in shares of Baxter International by 140.5% in the fourth quarter. Forsta AP Fonden now owns 273,900 shares of the medical instruments supplier’s stock valued at $7,987,000 after acquiring an additional 160,000 shares during the period. CKW Financial Group grew its stake in Baxter International by 19.3% during the fourth quarter. CKW Financial Group now owns 2,625 shares of the medical instruments supplier’s stock valued at $77,000 after acquiring an additional 425 shares in the last quarter. Finally, SG Americas Securities LLC increased its holdings in Baxter International by 99.8% during the 4th quarter. SG Americas Securities LLC now owns 16,371 shares of the medical instruments supplier’s stock worth $477,000 after acquiring an additional 8,179 shares during the period. Institutional investors own 90.19% of the company’s stock.

Baxter International Stock Performance

NYSE:BAX opened at $30.63 on Friday. The company has a market capitalization of $15.64 billion, a price-to-earnings ratio of 153.16, a PEG ratio of 9.83 and a beta of 0.61. The business has a 50 day moving average of $30.76 and a 200 day moving average of $34.43. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.43 and a quick ratio of 1.09. Baxter International Inc. has a 1-year low of $28.33 and a 1-year high of $44.01.

Baxter International (NYSE:BAX) last announced its quarterly earnings data on Friday, November 8th. The medical instruments supplier reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.02. The company had revenue of $3.85 billion during the quarter, compared to analysts’ expectations of $3.85 billion. Baxter International had a net margin of 0.77% and a return on equity of 18.30%. The firm’s revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.68 EPS. On average, sell-side analysts predict that Baxter International Inc. will post 1.83 earnings per share for the current fiscal year.

Baxter International Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, November 29th were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date of this dividend was Friday, November 29th. Baxter International’s dividend payout ratio (DPR) is presently 340.02%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on BAX shares. Citigroup reduced their price target 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. StockNews.com cut Baxter International from a “buy” rating to a “hold” rating in a research report on Monday, November 11th. Finally, Stifel Nicolaus lowered their price target on Baxter International from $46.00 to $38.00 and set a “buy” rating on the stock in a report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $40.90.

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.