Baxter International Inc. (NYSE:BAX) Shares Sold by Huntington National Bank

Huntington National Bank cut its holdings in shares of Baxter International Inc. (NYSE:BAX) by 12.6% in the third quarter, HoldingsChannel reports. The firm owned 27,036 shares of the medical instruments supplier’s stock after selling 3,906 shares during the period. Huntington National Bank’s holdings in Baxter International were worth $1,027,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. First PREMIER Bank purchased a new position in shares of Baxter International during the 3rd quarter valued at about $25,000. Innealta Capital LLC purchased a new position in Baxter International during the second quarter valued at approximately $27,000. LRI Investments LLC acquired a new position in Baxter International in the first quarter valued at approximately $39,000. Fortitude Family Office LLC purchased a new stake in Baxter International in the 3rd quarter worth approximately $38,000. Finally, Versant Capital Management Inc grew its stake in shares of Baxter International by 974.2% during the 2nd quarter. Versant Capital Management Inc now owns 1,332 shares of the medical instruments supplier’s stock worth $45,000 after purchasing an additional 1,208 shares during the period. 90.19% of the stock is owned by hedge funds and other institutional investors.

Baxter International Stock Up 0.8 %

Shares of NYSE BAX opened at $31.96 on Friday. The stock has a market cap of $16.32 billion, a PE ratio of 159.81, a P/E/G ratio of 10.40 and a beta of 0.60. The company has a current ratio of 1.43, a quick ratio of 0.91 and a debt-to-equity ratio of 1.31. Baxter International Inc. has a 12-month low of $31.60 and a 12-month high of $44.01. The company has a 50-day moving average of $36.99 and a 200 day moving average of $35.91.

Baxter International (NYSE:BAX) last posted its quarterly earnings results on Friday, November 8th. The medical instruments supplier reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.02. Baxter International had a return on equity of 18.30% and a net margin of 0.77%. The business had revenue of $3.85 billion during the quarter, compared to analyst estimates of $3.85 billion. During the same period in the prior year, the business earned $0.68 earnings per share. The business’s revenue was up 3.8% compared to the same quarter last year. As a group, sell-side analysts predict that Baxter International Inc. will post 2.47 EPS for the current fiscal year.

Baxter International Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, November 29th will be issued a dividend of $0.17 per share. The ex-dividend date is Friday, November 29th. This represents a $0.68 annualized dividend and a dividend yield of 2.13%. Baxter International’s dividend payout ratio is presently 580.03%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on BAX. 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 report on Wednesday, August 7th. JPMorgan Chase & Co. cut their price target on Baxter International from $44.00 to $42.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Stifel Nicolaus reduced their price target on Baxter International from $46.00 to $38.00 and set a “buy” rating for the company in a report on Monday, November 11th. Citigroup boosted their price objective on Baxter International from $38.00 to $40.00 and gave the company a “neutral” rating in a research report on Tuesday, October 1st. Finally, The Goldman Sachs Group lifted their price target on shares of Baxter International from $36.00 to $40.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Baxter International has a consensus rating of “Hold” and an average price target of $40.91.

About Baxter International

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.