Geode Capital Management LLC Grows Stock Position in Baxter International Inc. (NYSE:BAX)

Geode Capital Management LLC grew its position in shares of Baxter International Inc. (NYSE:BAX) by 2.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,446,939 shares of the medical instruments supplier’s stock after purchasing an additional 290,279 shares during the period. Geode Capital Management LLC owned approximately 2.44% of Baxter International worth $362,006,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. CoreFirst Bank & Trust purchased a new stake in Baxter International during the 4th quarter worth $26,000. Riverview Trust Co grew its stake in shares of Baxter International by 5,488.2% during the fourth quarter. Riverview Trust Co now owns 950 shares of the medical instruments supplier’s stock valued at $28,000 after acquiring an additional 933 shares in the last quarter. LRI Investments LLC increased its position in shares of Baxter International by 60.8% during the third quarter. LRI Investments LLC now owns 1,560 shares of the medical instruments supplier’s stock worth $59,000 after acquiring an additional 590 shares during the last quarter. Bruce G. Allen Investments LLC lifted its stake in shares of Baxter International by 247.3% in the fourth quarter. Bruce G. Allen Investments LLC now owns 2,622 shares of the medical instruments supplier’s stock worth $76,000 after acquiring an additional 1,867 shares in the last quarter. Finally, CKW Financial Group boosted its holdings in Baxter International by 19.3% in the fourth quarter. CKW Financial Group now owns 2,625 shares of the medical instruments supplier’s stock valued at $77,000 after purchasing an additional 425 shares during the last quarter. 90.19% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Argus raised Baxter International from a “hold” rating to a “buy” rating in a research report on Monday, February 24th. JPMorgan Chase & Co. cut their price target on shares of Baxter International from $38.00 to $36.00 and set a “neutral” rating on the stock in a report on Friday, February 21st. Barclays raised their price objective on shares of Baxter International from $39.00 to $41.00 and gave the stock an “overweight” rating in a report on Monday, March 10th. Citigroup cut their target price on shares of Baxter International from $37.00 to $35.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 11th. Finally, The Goldman Sachs Group began coverage on Baxter International in a research note on Wednesday, February 26th. They issued a “buy” rating and a $42.00 price target for the company. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $38.56.

Baxter International Stock Down 8.2 %

Shares of Baxter International stock opened at $28.77 on Friday. The stock has a market capitalization of $14.76 billion, a price-to-earnings ratio of -22.48, a PEG ratio of 0.93 and a beta of 0.60. Baxter International Inc. has a twelve month low of $28.34 and a twelve month high of $42.86. The company has a current ratio of 1.43, a quick ratio of 1.09 and a debt-to-equity ratio of 1.31. The business’s 50 day simple moving average is $33.25 and its 200-day simple moving average is $33.45.

Baxter International (NYSE:BAX) last issued its earnings results on Thursday, February 20th. The medical instruments supplier reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.06. Baxter International had a positive return on equity of 16.67% and a negative net margin of 5.05%. The firm had revenue of $2.75 billion for the quarter, compared to analyst estimates of $2.67 billion. Equities research analysts forecast that Baxter International Inc. will post 2.48 earnings per share for the current year.

Baxter International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, February 28th were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date was Friday, February 28th. Baxter International’s payout ratio is -53.13%.

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.