Tobam Trims Stock Position in Baxter International Inc. (NYSE:BAX)

Tobam decreased its stake in shares of Baxter International Inc. (NYSE:BAX) by 85.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,833 shares of the medical instruments supplier’s stock after selling 73,071 shares during the period. Tobam’s holdings in Baxter International were worth $374,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. GAMMA Investing LLC grew its stake in Baxter International by 6.5% in the third quarter. GAMMA Investing LLC now owns 7,517 shares of the medical instruments supplier’s stock worth $285,000 after purchasing an additional 459 shares during the period. Livforsakringsbolaget Skandia Omsesidigt grew its position in shares of Baxter International by 229.9% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 4,747 shares of the medical instruments supplier’s stock worth $180,000 after buying an additional 3,308 shares during the period. Valeo Financial Advisors LLC bought a new position in shares of Baxter International in the 3rd quarter worth about $218,000. Trust Point Inc. purchased a new position in Baxter International during the 3rd quarter valued at about $213,000. Finally, Everence Capital Management Inc. boosted its stake in Baxter International by 138.1% during the third quarter. Everence Capital Management Inc. now owns 36,912 shares of the medical instruments supplier’s stock worth $1,402,000 after acquiring an additional 21,410 shares in the last quarter. Hedge funds and other institutional investors own 90.19% of the company’s stock.

Baxter International Stock Down 0.6 %

BAX stock opened at $30.63 on Friday. The stock has a market capitalization of $15.64 billion, a P/E ratio of 153.16, a P/E/G ratio of 10.39 and a beta of 0.61. 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. The business has a fifty day moving average price of $30.82 and a 200-day moving average price of $34.46.

Baxter International (NYSE:BAX) last issued its earnings results on Friday, November 8th. The medical instruments supplier reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.02. The business had revenue of $3.85 billion during the quarter, compared to analyst estimates of $3.85 billion. Baxter International had a return on equity of 18.30% and a net margin of 0.77%. Baxter International’s revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.68 EPS. Equities analysts forecast that Baxter International Inc. will post 1.83 earnings per share for the current fiscal year.

Baxter International Cuts Dividend

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

Wall Street Analysts Forecast Growth

BAX has been the subject of a number of analyst reports. 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 note on Wednesday, December 11th. StockNews.com lowered Baxter International from a “buy” rating to a “hold” rating in a research report on Monday, November 11th. Finally, Stifel Nicolaus dropped their target price 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 company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $40.90.

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.