Baxter International Inc. $BAX Shares Sold by International Assets Investment Management LLC

International Assets Investment Management LLC reduced its stake in shares of Baxter International Inc. (NYSE:BAX) by 48.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 40,280 shares of the medical instruments supplier’s stock after selling 37,315 shares during the quarter. International Assets Investment Management LLC’s holdings in Baxter International were worth $952,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of BAX. BlackRock Inc. bought a new position in Baxter International in the second quarter worth about $1,744,874,000. Pzena Investment Management LLC bought a new position in shares of Baxter International in the 2nd quarter worth approximately $1,392,098,000. Equity Investment Corp purchased a new position in shares of Baxter International in the 2nd quarter valued at approximately $146,815,000. Bank of America Corp DE bought a new stake in shares of Baxter International during the second quarter valued at approximately $132,993,000. Finally, Bank of New York Mellon Corp purchased a new stake in Baxter International in the second quarter worth $68,036,000. Institutional investors own 90.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on BAX. Barclays lifted their price target on shares of Baxter International from $20.00 to $23.00 and gave the company an “underweight” rating in a research report on Monday. Weiss Ratings upgraded Baxter International from a “sell (d-)” rating to a “sell (d)” rating in a report on Friday, October 30th. Jefferies Financial Group restated a “hold” rating and set a $25.00 price objective on shares of Baxter International in a research report on Thursday, October 29th. Wells Fargo & Company lifted their price objective on Baxter International from $23.00 to $25.00 and gave the stock an “equal weight” rating in a report on Friday, October 30th. Finally, The Goldman Sachs Group raised their target price on Baxter International from $19.00 to $21.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 15th. One investment analyst has rated the stock with a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Baxter International has a consensus rating of “Reduce” and a consensus price target of $23.27.

Baxter International Trading Up 2.4%

Shares of Baxter International stock opened at $26.40 on Tuesday. Baxter International Inc. has a 1-year low of $15.73 and a 1-year high of $30.00. The company’s fifty day simple moving average is $24.51 and its 200-day simple moving average is $21.54. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.79 and a quick ratio of 1.19. The stock has a market capitalization of $13.66 billion, a PE ratio of -18.72, a P/E/G ratio of 3.90 and a beta of 0.68.

Baxter International (NYSE:BAX) last posted its quarterly earnings data on Thursday, October 29th. The medical instruments supplier reported $0.58 EPS for the quarter, topping the consensus estimate of $0.52 by $0.06. Baxter International had a positive return on equity of 16.23% and a negative net margin of 6.23%. The firm had revenue of $2.98 billion during the quarter, compared to analyst estimates of $2.91 billion. During the same period in the prior year, the business posted $0.69 EPS. Baxter International’s revenue was up 5.0% on a year-over-year basis. As a group, equities analysts anticipate that Baxter International Inc. will post 2.10 earnings per share for the current year.

Baxter International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 4th. Investors of record on Friday, November 27th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend is Friday, November 27th. Baxter International’s dividend payout ratio is currently -2.84%.

Baxter International Company Profile

Baxter International is a global healthcare company that develops and supplies products used in hospitals, clinics and other care settings. Its offerings include intravenous solutions and administration sets, infusion pumps, medication-delivery systems, and products for surgical and hospital care.

The company also provides patient-monitoring and connected-care technologies, including products associated with Hillrom, which Baxter acquired in 2021. Its products and services support healthcare professionals and patients in countries around the world.

Founded in 1931, Baxter began by producing intravenous solutions.