Archer Investment Corp Buys 385 Shares of Baxter International Inc. (NYSE:BAX)

Archer Investment Corp lifted its stake in shares of Baxter International Inc. (NYSE:BAX) by 20.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,235 shares of the medical instruments supplier’s stock after purchasing an additional 385 shares during the period. Archer Investment Corp’s holdings in Baxter International were worth $75,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Vestor Capital LLC bought a new position in Baxter International during the 4th quarter worth $109,000. BNP Paribas Financial Markets increased its position in Baxter International by 110.9% during the 4th quarter. BNP Paribas Financial Markets now owns 797,372 shares of the medical instruments supplier’s stock worth $30,826,000 after buying an additional 419,322 shares during the period. First United Bank & Trust bought a new position in Baxter International during the 4th quarter worth $93,000. EverSource Wealth Advisors LLC increased its position in Baxter International by 20.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,400 shares of the medical instruments supplier’s stock worth $93,000 after buying an additional 406 shares during the period. Finally, Nixon Peabody Trust Co. bought a new position in Baxter International during the 4th quarter worth $232,000. Institutional investors own 90.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on BAX. StockNews.com upgraded Baxter International from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Morgan Stanley lowered Baxter International from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $39.00 to $30.00 in a report on Monday, July 15th. TD Cowen lowered Baxter International from a “buy” rating to a “hold” rating and set a $40.00 target price on the stock. in a report on Friday, May 10th. The Goldman Sachs Group increased their target price on Baxter International from $36.00 to $40.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Finally, Wells Fargo & Company lowered their target price on Baxter International from $44.00 to $40.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $41.73.

Baxter International Stock Performance

Baxter International stock opened at $37.52 on Thursday. The business has a 50 day moving average of $35.72 and a 200-day moving average of $37.58. Baxter International Inc. has a 1 year low of $31.01 and a 1 year high of $44.01. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.40 and a quick ratio of 0.91. The company has a market capitalization of $19.12 billion, a P/E ratio of 7.22, a P/E/G ratio of 1.28 and a beta of 0.57.

Baxter International (NYSE:BAX) last released its quarterly earnings data on Tuesday, August 6th. The medical instruments supplier reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.02. Baxter International had a return on equity of 18.06% and a net margin of 16.51%. The company had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $3.75 billion. During the same quarter in the prior year, the firm posted $0.55 earnings per share. The firm’s revenue was up 2.8% compared to the same quarter last year. On average, equities research analysts predict that Baxter International Inc. will post 2.96 earnings per share for the current year.

Baxter International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, August 30th will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 3.09%. The ex-dividend date is Friday, August 30th. Baxter International’s payout ratio is presently 22.31%.

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.