Rockport Wealth LLC Buys New Stake in Baxter International Inc. (NYSE:BAX)

Rockport Wealth LLC bought a new stake in shares of Baxter International Inc. (NYSE:BAX) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 6,959 shares of the medical instruments supplier’s stock, valued at approximately $297,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Massmutual Trust Co. FSB ADV boosted its stake in Baxter International by 15.1% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 2,069 shares of the medical instruments supplier’s stock valued at $88,000 after purchasing an additional 272 shares during the period. Lindbrook Capital LLC lifted its stake in shares of Baxter International by 8.8% in the 4th quarter. Lindbrook Capital LLC now owns 4,586 shares of the medical instruments supplier’s stock worth $177,000 after acquiring an additional 372 shares during the period. EverSource Wealth Advisors LLC lifted its stake in shares of Baxter International by 20.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,400 shares of the medical instruments supplier’s stock worth $93,000 after acquiring an additional 406 shares during the period. Private Trust Co. NA lifted its stake in shares of Baxter International by 8.9% in the 4th quarter. Private Trust Co. NA now owns 5,222 shares of the medical instruments supplier’s stock worth $202,000 after acquiring an additional 428 shares during the period. Finally, Trust Co. of Vermont lifted its stake in shares of Baxter International by 31.0% in the 4th quarter. Trust Co. of Vermont now owns 1,870 shares of the medical instruments supplier’s stock worth $72,000 after acquiring an additional 443 shares during the period. Hedge funds and other institutional investors own 90.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Morgan Stanley lowered shares of Baxter International from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $39.00 to $30.00 in a research note on Monday, July 15th. Citigroup dropped their price objective on shares of Baxter International from $38.00 to $37.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. The Goldman Sachs Group began coverage on shares of Baxter International in a research note on Thursday, May 30th. They issued a “neutral” rating and a $36.00 price objective on the stock. TD Cowen downgraded shares of Baxter International from a “buy” rating to a “hold” rating and set a $40.00 target price for the company. in a research report on Friday, May 10th. Finally, Evercore ISI decreased their price objective on shares of Baxter International from $46.00 to $45.00 and set an “outperform” rating for the company in a report on Tuesday, July 2nd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $42.67.

Baxter International Stock Down 0.3 %

BAX traded down $0.09 during trading on Tuesday, reaching $35.27. 4,712,345 shares of the stock were exchanged, compared to its average volume of 4,165,329. The stock has a market cap of $17.97 billion, a P/E ratio of 6.78, a price-to-earnings-growth ratio of 1.84 and a beta of 0.57. Baxter International Inc. has a twelve month low of $31.01 and a twelve month high of $49.29. The stock’s 50 day moving average price is $34.09 and its two-hundred day moving average price is $38.23. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.01 and a current ratio of 1.48.

Baxter International (NYSE:BAX) last released its quarterly earnings data on Thursday, May 2nd. The medical instruments supplier reported $0.65 EPS for the quarter, beating the consensus estimate of $0.61 by $0.04. Baxter International had a net margin of 17.79% and a return on equity of 18.47%. The firm had revenue of $3.59 billion for the quarter, compared to the consensus estimate of $3.55 billion. During the same period in the previous year, the company earned $0.59 earnings per share. The company’s quarterly revenue was down 1.6% on a year-over-year basis. Equities analysts expect that Baxter International Inc. will post 2.91 EPS for the current year.

Baxter International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, August 30th will be issued a $0.29 dividend. The ex-dividend date is Friday, August 30th. This represents a $1.16 annualized dividend and a dividend yield of 3.29%. Baxter International’s dividend payout ratio is currently 22.31%.

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.