KLP Kapitalforvaltning AS Acquires Shares of 174,176 Baxter International Inc. (NYSE:BAX)

KLP Kapitalforvaltning AS bought a new position in Baxter International Inc. (NYSE:BAX) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 174,176 shares of the medical instruments supplier’s stock, valued at approximately $5,104,000.

A number of other large investors have also recently made changes to their positions in the company. Riverview Trust Co boosted its position in shares of Baxter International by 5,488.2% during the fourth quarter. Riverview Trust Co now owns 950 shares of the medical instruments supplier’s stock valued at $28,000 after buying an additional 933 shares during the period. LRI Investments LLC lifted its stake in shares of Baxter International by 60.8% during the 3rd quarter. LRI Investments LLC now owns 1,560 shares of the medical instruments supplier’s stock worth $59,000 after acquiring an additional 590 shares during the last quarter. Bruce G. Allen Investments LLC boosted its holdings in Baxter International by 247.3% during the 4th quarter. Bruce G. Allen Investments LLC now owns 2,622 shares of the medical instruments supplier’s stock valued at $76,000 after acquiring an additional 1,867 shares during the period. CKW Financial Group grew its position in Baxter International by 19.3% in the 4th quarter. CKW Financial Group now owns 2,625 shares of the medical instruments supplier’s stock valued at $77,000 after acquiring an additional 425 shares during the last quarter. Finally, West Oak Capital LLC increased its stake in Baxter International by 345.3% in the fourth quarter. West Oak Capital LLC now owns 3,785 shares of the medical instruments supplier’s stock worth $110,000 after purchasing an additional 2,935 shares during the period. 90.19% of the stock is owned by hedge funds and other institutional investors.

Baxter International Trading Down 1.7 %

Shares of NYSE BAX opened at $33.04 on Wednesday. The business has a fifty day moving average price of $33.02 and a 200 day moving average price of $33.74. Baxter International Inc. has a 1-year low of $28.34 and a 1-year high of $43.99. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.43 and a quick ratio of 1.09. The stock has a market capitalization of $16.90 billion, a P/E ratio of -25.81, a price-to-earnings-growth ratio of 0.93 and a beta of 0.60.

Baxter International (NYSE:BAX) last released its quarterly earnings results on Thursday, February 20th. The medical instruments supplier reported $0.58 EPS for the quarter, beating the consensus estimate 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. Equities research analysts expect that Baxter International Inc. will post 2.48 EPS for the current fiscal year.

Baxter International Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, February 28th will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date is Friday, February 28th. Baxter International’s payout ratio is presently -53.13%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on BAX. Barclays upped their price target on shares of Baxter International from $39.00 to $41.00 and gave the stock an “overweight” rating in a report on Monday, March 10th. Citigroup reduced their target price on shares of Baxter International from $37.00 to $35.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 11th. The Goldman Sachs Group began coverage on Baxter International in a report on Wednesday, February 26th. They issued a “buy” rating and a $42.00 price target for the company. Argus upgraded Baxter International from a “hold” rating to a “buy” rating in a report on Monday, February 24th. Finally, JPMorgan Chase & Co. lowered their target price on Baxter International from $38.00 to $36.00 and set a “neutral” rating for the company in a report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $38.56.

Baxter International Company 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.