Baxter International Inc. (NYSE:BAX) Position Raised by Pointe Capital Management LLC

Pointe Capital Management LLC raised its position in shares of Baxter International Inc. (NYSE:BAX) by 57.8% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,978 shares of the medical instruments supplier’s stock after purchasing an additional 4,019 shares during the quarter. Pointe Capital Management LLC’s holdings in Baxter International were worth $320,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BAX. Forsta AP Fonden lifted its holdings in shares of Baxter International by 6.9% in the third quarter. Forsta AP Fonden now owns 113,900 shares of the medical instruments supplier’s stock valued at $4,325,000 after buying an additional 7,400 shares during the period. Fortitude Family Office LLC acquired a new stake in Baxter International in the 3rd quarter valued at about $38,000. Cigna Investments Inc. New bought a new position in shares of Baxter International during the 3rd quarter valued at about $201,000. Farther Finance Advisors LLC boosted its position in shares of Baxter International by 23.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,519 shares of the medical instruments supplier’s stock valued at $96,000 after purchasing an additional 475 shares in the last quarter. Finally, Van ECK Associates Corp grew its stake in shares of Baxter International by 11.1% in the 3rd quarter. Van ECK Associates Corp now owns 61,878 shares of the medical instruments supplier’s stock worth $2,257,000 after purchasing an additional 6,168 shares during the last quarter. 90.19% of the stock is owned by institutional investors.

Baxter International Stock Up 2.6 %

Shares of Baxter International stock opened at $36.00 on Wednesday. Baxter International Inc. has a 1 year low of $28.33 and a 1 year high of $44.01. The company has a market cap of $18.38 billion, a P/E ratio of -28.13, a P/E/G ratio of 0.93 and a beta of 0.61. 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 stock has a 50-day moving average price of $30.89 and a 200 day moving average price of $34.07.

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

Baxter International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, February 28th will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.89%. The ex-dividend date of this dividend is Friday, February 28th. Baxter International’s dividend payout ratio is currently -53.13%.

Wall Street Analyst Weigh In

Several analysts recently commented on BAX shares. Stifel Nicolaus cut their target price on shares of Baxter International from $46.00 to $38.00 and set a “buy” rating for the company in a research note on Monday, November 11th. StockNews.com downgraded Baxter International from a “buy” rating to a “hold” rating in a research report on Monday, November 11th. Barclays initiated coverage on Baxter International in a research note on Thursday, February 20th. They set an “overweight” rating and a $39.00 price objective for the company. Citigroup cut their target price on Baxter International from $37.00 to $35.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 11th. Finally, JPMorgan Chase & Co. decreased their price target 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. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $38.80.

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.