Baxter International Inc. (NYSE:BAX) Stake Cut by Private Trust Co. NA

Private Trust Co. NA reduced its holdings in Baxter International Inc. (NYSE:BAXGet Rating) by 39.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,371 shares of the medical instruments supplier’s stock after selling 4,707 shares during the period. Private Trust Co. NA’s holdings in Baxter International were worth $572,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Dixon Hughes Goodman Wealth Advisors LLC purchased a new stake in Baxter International in the 4th quarter worth about $26,000. Norwood Financial Corp purchased a new stake in Baxter International in the 4th quarter worth about $32,000. FSB Premier Wealth Management Inc. purchased a new stake in Baxter International in the 4th quarter worth about $39,000. Country Trust Bank acquired a new position in Baxter International in the 4th quarter worth about $46,000. Finally, Cassady Schiller Wealth Management LLC acquired a new position in Baxter International in the 4th quarter worth about $68,000. 86.65% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE:BAX opened at $64.75 on Thursday. The business has a 50 day moving average price of $72.43 and a 200 day moving average price of $79.40. Baxter International Inc. has a twelve month low of $63.25 and a twelve month high of $89.70. The company has a market cap of $32.60 billion, a price-to-earnings ratio of 30.98, a PEG ratio of 1.23 and a beta of 0.62. The company has a quick ratio of 1.45, a current ratio of 2.10 and a debt-to-equity ratio of 1.84.

Baxter International (NYSE:BAXGet Rating) last announced its earnings results on Thursday, April 28th. The medical instruments supplier reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.13. Baxter International had a return on equity of 21.59% and a net margin of 7.80%. The firm had revenue of $3.71 billion during the quarter, compared to the consensus estimate of $3.68 billion. During the same quarter in the prior year, the company earned $0.76 EPS. The firm’s revenue for the quarter was up 25.8% compared to the same quarter last year. Analysts anticipate that Baxter International Inc. will post 4.14 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 1st. Investors of record on Friday, June 3rd will be paid a dividend of $0.29 per share. This is an increase from Baxter International’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Thursday, June 2nd. This represents a $1.16 annualized dividend and a yield of 1.79%. Baxter International’s dividend payout ratio is presently 55.50%.

In other Baxter International news, Director Albert P. L. Stroucken sold 4,020 shares of the firm’s stock in a transaction that occurred on Tuesday, April 5th. The stock was sold at an average price of $76.02, for a total value of $305,600.40. Following the completion of the sale, the director now owns 27,629 shares in the company, valued at approximately $2,100,356.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.21% of the stock is owned by corporate insiders.

BAX has been the topic of several research reports. Morgan Stanley dropped their target price on Baxter International from $100.00 to $95.00 and set an “overweight” rating on the stock in a research report on Monday, May 23rd. Citigroup dropped their target price on Baxter International from $98.00 to $85.00 and set a “buy” rating on the stock in a research report on Tuesday, May 17th. StockNews.com initiated coverage on Baxter International in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Raymond James dropped their target price on Baxter International from $96.00 to $85.00 in a research report on Friday, April 29th. Finally, The Goldman Sachs Group lowered Baxter International from a “neutral” rating to a “sell” rating and lowered their price objective for the company from $88.00 to $77.00 in a report on Monday, April 4th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $91.00.

Baxter International Company Profile (Get Rating)

Baxter International Inc, through its subsidiaries, develops and provides a portfolio of healthcare products worldwide. The company offers peritoneal dialysis and hemodialysis, and additional dialysis therapies and services; intravenous therapies, infusion pumps, administration sets, and drug reconstitution devices; remixed and oncology drug platforms, inhaled anesthesia and critical care products and pharmacy compounding services; parenteral nutrition therapies and related products; biological products and medical devices used in surgical procedures for hemostasis, tissue sealing and adhesion prevention; and continuous renal replacement therapies and other organ support therapies focused in the intensive care unit.

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Institutional Ownership by Quarter for Baxter International (NYSE:BAX)

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