Baxter International Inc. $BAX Stock Holdings Boosted by Brighton Jones LLC

Brighton Jones LLC raised its stake in shares of Baxter International Inc. (NYSE:BAX) by 212.4% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 35,115 shares of the medical instruments supplier’s stock after purchasing an additional 23,875 shares during the quarter. Brighton Jones LLC’s holdings in Baxter International were worth $843,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of BAX. Jones Financial Companies Lllp bought a new stake in shares of Baxter International in the 2nd quarter valued at about $26,000. CYBER HORNET ETFs LLC boosted its stake in Baxter International by 52.4% during the 2nd quarter. CYBER HORNET ETFs LLC now owns 2,153 shares of the medical instruments supplier’s stock worth $46,000 after acquiring an additional 740 shares during the last quarter. Community Bank N.A. bought a new position in Baxter International during the 2nd quarter worth approximately $46,000. Versant Capital Management Inc boosted its stake in Baxter International by 552.2% during the 2nd quarter. Versant Capital Management Inc now owns 2,413 shares of the medical instruments supplier’s stock worth $51,000 after acquiring an additional 2,043 shares during the last quarter. Finally, Wedbush Securities Inc. acquired a new position in Baxter International during the third quarter valued at approximately $605,000. 90.19% of the stock is currently owned by institutional investors and hedge funds.

Baxter International Price Performance

Shares of BAX opened at $25.71 on Friday. The stock has a 50 day simple moving average of $24.53 and a 200 day simple moving average of $21.64. Baxter International Inc. has a 52-week low of $15.73 and a 52-week high of $30.00. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.19 and a current ratio of 1.79. The firm has a market capitalization of $13.30 billion, a PE ratio of 13.58, a P/E/G ratio of 3.88 and a beta of 0.68.

Baxter International (NYSE:BAX) last issued its quarterly earnings data on Thursday, October 29th. The medical instruments supplier reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.06. The business had revenue of $2.98 billion for the quarter, compared to analyst estimates of $2.91 billion. Baxter International had a negative net margin of 6.23% and a positive return on equity of 16.23%. The firm’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period last year, the business posted $0.69 earnings per share. Sell-side analysts predict that Baxter International Inc. will post 2.10 EPS for the current fiscal year.

Baxter International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 4th. Stockholders of record on Friday, November 27th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend is Friday, November 27th. Baxter International’s dividend payout ratio is currently -2.84%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. UBS Group upped their target price on shares of Baxter International from $19.00 to $25.00 and gave the company a “hold” rating in a research note on Tuesday, July 28th. Jefferies Financial Group reiterated a “hold” rating and issued a $25.00 target price on shares of Baxter International in a report on Thursday, October 29th. JPMorgan Chase & Co. reduced their price target on shares of Baxter International from $26.00 to $25.00 and set a “neutral” rating on the stock in a research report on Friday, October 30th. Stifel Nicolaus boosted their price target on shares of Baxter International from $19.00 to $24.00 and gave the company a “hold” rating in a report on Tuesday, July 28th. Finally, TD Cowen boosted their price target on shares of Baxter International from $20.00 to $24.00 and gave the company a “hold” rating in a report on Monday, July 27th. One equities research analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Reduce” and an average target price of $23.27.

Baxter International Profile

Baxter International is a global healthcare company that develops and supplies products used in hospitals, clinics and other care settings. Its offerings include intravenous solutions and administration sets, infusion pumps, medication-delivery systems, and products for surgical and hospital care. The company also provides patient-monitoring and connected-care technologies, including products associated with Hillrom, which Baxter acquired in 2021. Its products and services support healthcare professionals and patients in countries around the world.