Sivik Global Healthcare LLC Increases Holdings in Baxter International Inc. (NYSE:BAX)

Sivik Global Healthcare LLC increased its position in Baxter International Inc. (NYSE:BAX) by 50.0% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 150,000 shares of the medical instruments supplier’s stock after purchasing an additional 50,000 shares during the period. Baxter International accounts for about 2.4% of Sivik Global Healthcare LLC’s investment portfolio, making the stock its 17th biggest holding. Sivik Global Healthcare LLC’s holdings in Baxter International were worth $5,696,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Gabelli Funds LLC raised its position in shares of Baxter International by 9.6% during the first quarter. Gabelli Funds LLC now owns 286,200 shares of the medical instruments supplier’s stock worth $12,232,000 after purchasing an additional 25,000 shares during the period. Coho Partners Ltd. bought a new stake in shares of Baxter International during the third quarter worth $57,229,000. Wintrust Investments LLC boosted its stake in shares of Baxter International by 76.8% in the 1st quarter. Wintrust Investments LLC now owns 41,708 shares of the medical instruments supplier’s stock valued at $1,783,000 after purchasing an additional 18,114 shares during the last quarter. Handelsbanken Fonder AB raised its holdings in Baxter International by 8.7% in the third quarter. Handelsbanken Fonder AB now owns 217,629 shares of the medical instruments supplier’s stock worth $8,263,000 after purchasing an additional 17,450 shares during the period. Finally, Swedbank AB acquired a new stake in Baxter International in the 1st quarter valued at approximately $6,083,000. Institutional investors own 90.19% of the company’s stock.

Wall Street Analysts Forecast Growth

BAX has been the topic of a number of recent research reports. Wells Fargo & Company lowered their price target on shares of Baxter International from $44.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 7th. StockNews.com cut Baxter International from a “buy” rating to a “hold” rating in a research note on Monday. JPMorgan Chase & Co. dropped their target price on shares of Baxter International from $44.00 to $42.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Citigroup boosted their price objective on Baxter International from $38.00 to $40.00 and gave the stock a “neutral” rating in a report on Tuesday, October 1st. Finally, Stifel Nicolaus reduced 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. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $40.91.

Baxter International Stock Down 1.6 %

BAX stock traded down $0.51 during trading on Thursday, reaching $32.12. The stock had a trading volume of 251,374 shares, compared to its average volume of 4,053,071. Baxter International Inc. has a 1-year low of $32.01 and a 1-year high of $44.01. The company has a current ratio of 1.40, a quick ratio of 0.91 and a debt-to-equity ratio of 1.35. The company has a market capitalization of $16.39 billion, a P/E ratio of 163.21, a PEG ratio of 11.44 and a beta of 0.60. The firm has a fifty day moving average price of $37.13 and a 200 day moving average price of $35.94.

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 the consensus estimate of $0.78 by $0.02. The company had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.85 billion. Baxter International had a return on equity of 18.19% and a net margin of 0.77%. The business’s revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.68 EPS. On average, equities analysts anticipate that Baxter International Inc. will post 2.33 earnings per share for the current year.

Baxter International Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, November 29th will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 2.12%. The ex-dividend date is Friday, November 29th. Baxter International’s dividend payout ratio (DPR) is currently 580.03%.

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.