Russell Investments Group Ltd. Increases Stake in Baxter International Inc. (NYSE:BAX)

Russell Investments Group Ltd. boosted its holdings in shares of Baxter International Inc. (NYSE:BAX) by 40.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,745,709 shares of the medical instruments supplier’s stock after buying an additional 502,370 shares during the quarter. Russell Investments Group Ltd. owned 0.34% of Baxter International worth $50,904,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. CoreFirst Bank & Trust acquired a new stake in shares of Baxter International in the fourth quarter valued at $26,000. Riverview Trust Co lifted its position in shares of Baxter International by 5,488.2% during the 4th quarter. Riverview Trust Co now owns 950 shares of the medical instruments supplier’s stock worth $28,000 after purchasing an additional 933 shares during the last quarter. LRI Investments LLC grew its stake 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 purchasing an additional 590 shares in the last quarter. Bruce G. Allen Investments LLC increased its holdings in 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 valued at $76,000 after buying an additional 1,867 shares during the last quarter. Finally, CKW Financial Group raised its stake 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 buying an additional 425 shares in the last quarter. Hedge funds and other institutional investors own 90.19% of the company’s stock.

Baxter International Stock Performance

NYSE BAX opened at $28.77 on Monday. The firm has a market cap of $14.76 billion, a P/E ratio of -22.48, a P/E/G ratio of 0.93 and a beta of 0.64. Baxter International Inc. has a 52-week low of $28.13 and a 52-week high of $42.86. The business’s 50-day moving average price is $33.25 and its 200 day moving average price is $33.36. The company has a quick ratio of 1.09, a current ratio of 1.43 and a debt-to-equity ratio of 1.31.

Baxter International (NYSE:BAX) last released its earnings results on Thursday, February 20th. The medical instruments supplier reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $2.75 billion for the quarter, compared to analyst estimates of $2.67 billion. On average, equities research analysts expect that Baxter International Inc. will post 2.48 earnings per share for the current year.

Baxter International Dividend Announcement

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

Analyst Ratings Changes

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

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.