Gabelli Funds LLC Has $12.20 Million Stock Position in Baxter International Inc. (NYSE:BAX)

Gabelli Funds LLC lowered its stake in Baxter International Inc. (NYSE:BAX) by 0.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 267,850 shares of the medical instruments supplier’s stock after selling 2,025 shares during the quarter. Gabelli Funds LLC owned approximately 0.05% of Baxter International worth $12,203,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. RFP Financial Group LLC acquired a new stake in shares of Baxter International in the second quarter valued at about $36,000. Ancora Advisors LLC raised its position in shares of Baxter International by 29.2% in the first quarter. Ancora Advisors LLC now owns 1,351 shares of the medical instruments supplier’s stock valued at $114,000 after buying an additional 305 shares in the last quarter. KB Financial Partners LLC acquired a new stake in shares of Baxter International in the first quarter valued at approximately $81,000. Massmutual Trust Co. FSB ADV raised its position in Baxter International by 50.7% during the second quarter. Massmutual Trust Co. FSB ADV now owns 2,063 shares of the medical instruments supplier’s stock valued at $94,000 after purchasing an additional 694 shares in the last quarter. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC raised its position in Baxter International by 1,295.4% during the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 2,121 shares of the medical instruments supplier’s stock valued at $86,000 after purchasing an additional 1,969 shares in the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.

Baxter International Stock Up 0.5 %

BAX opened at $35.62 on Tuesday. The company has a 50 day moving average of $35.14 and a 200 day moving average of $40.59. The company has a market cap of $18.07 billion, a PE ratio of 6.98, a price-to-earnings-growth ratio of 2.62 and a beta of 0.58. Baxter International Inc. has a 12 month low of $31.01 and a 12 month high of $56.92. The company has a current ratio of 1.94, a quick ratio of 1.48 and a debt-to-equity ratio of 1.72.

Baxter International Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 1st will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 3.26%. The ex-dividend date of this dividend is Thursday, November 30th. Baxter International’s dividend payout ratio (DPR) is presently 22.75%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. KeyCorp lowered their price target on shares of Baxter International from $53.00 to $51.00 and set an “overweight” rating for the company in a report on Monday, July 31st. JPMorgan Chase & Co. cut their price objective on shares of Baxter International from $49.00 to $36.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 31st. Wells Fargo & Company lowered their target price on shares of Baxter International from $46.00 to $44.00 and set an “equal weight” rating on the stock in a report on Friday, July 28th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Baxter International from $35.00 to $50.00 and gave the stock a “hold” rating in a report on Tuesday, October 24th. Finally, Barclays decreased their price objective on shares of Baxter International from $58.00 to $54.00 and set an “overweight” rating for the company in a research note on Monday, July 31st. Eight research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Baxter International currently has a consensus rating of “Hold” and an average target price of $47.25.

Baxter International Profile

Baxter International Inc, through its subsidiaries, develops and provides a portfolio of healthcare products worldwide. The company offers peritoneal dialysis and hemodialysis, and additional dialysis therapies and services; intravenous therapies, infusion pumps, administration sets, and drug reconstitution devices; premixed and oncology drug platforms, inhaled anesthesia and critical care products and pharmacy compounding services; parenteral nutrition therapies and related products; biological products and medical devices used in surgical procedures for hemostasis, tissue sealing and adhesion prevention; and continuous renal replacement therapies and other organ support therapies focused in the intensive care unit.