RNC Capital Management LLC Trims Position in Baxter International Inc. (NYSE:BAX)

RNC Capital Management LLC cut its holdings in shares of Baxter International Inc. (NYSE:BAX) by 27.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 54,789 shares of the medical instruments supplier’s stock after selling 20,890 shares during the period. RNC Capital Management LLC’s holdings in Baxter International were worth $2,118,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its position in shares of Baxter International by 69.0% during the third quarter. Bank of New York Mellon Corp now owns 6,491,343 shares of the medical instruments supplier’s stock valued at $244,983,000 after purchasing an additional 2,650,959 shares in the last quarter. Carmignac Gestion boosted its position in shares of Baxter International by 467.0% during the third quarter. Carmignac Gestion now owns 4,848,773 shares of the medical instruments supplier’s stock valued at $182,992,000 after purchasing an additional 3,993,537 shares in the last quarter. SG Americas Securities LLC boosted its position in shares of Baxter International by 191.4% during the fourth quarter. SG Americas Securities LLC now owns 69,606 shares of the medical instruments supplier’s stock valued at $2,691,000 after purchasing an additional 45,718 shares in the last quarter. California Public Employees Retirement System boosted its position in shares of Baxter International by 1.0% during the third quarter. California Public Employees Retirement System now owns 3,151,515 shares of the medical instruments supplier’s stock valued at $118,938,000 after purchasing an additional 30,477 shares in the last quarter. Finally, Shapiro Capital Management LLC bought a new stake in shares of Baxter International during the third quarter valued at approximately $114,307,000. 90.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on BAX shares. StockNews.com raised Baxter International from a “hold” rating to a “buy” rating in a report on Friday, January 19th. Barclays boosted their target price on Baxter International from $52.00 to $54.00 and gave the stock an “overweight” rating in a report on Monday, February 12th. Morgan Stanley dropped their target price on Baxter International from $45.00 to $39.00 and set an “equal weight” rating on the stock in a report on Monday, December 4th. UBS Group lowered their price target on Baxter International from $40.00 to $36.00 and set a “neutral” rating on the stock in a report on Tuesday, February 6th. Finally, Bank of America upped their price target on Baxter International from $42.00 to $45.00 and gave the company a “neutral” rating in a report on Tuesday, March 5th. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Baxter International presently has a consensus rating of “Hold” and a consensus price target of $46.18.

Baxter International Stock Performance

NYSE:BAX opened at $42.69 on Thursday. The company has a current ratio of 1.48, a quick ratio of 1.04 and a debt-to-equity ratio of 1.31. Baxter International Inc. has a 12-month low of $31.01 and a 12-month high of $50.21. The stock has a 50-day moving average price of $40.81 and a 200 day moving average price of $37.97. The stock has a market capitalization of $21.68 billion, a P/E ratio of 8.18, a P/E/G ratio of 2.25 and a beta of 0.62.

Baxter International (NYSE:BAX) last released its earnings results on Thursday, February 8th. The medical instruments supplier reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.02. Baxter International had a return on equity of 19.49% and a net margin of 17.77%. The firm had revenue of $3.89 billion during the quarter, compared to analysts’ expectations of $3.81 billion. During the same quarter last year, the business posted $0.88 earnings per share. The firm’s revenue was up 3.5% on a year-over-year basis. Equities research analysts forecast that Baxter International Inc. will post 2.89 EPS for the current fiscal year.

Baxter International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Friday, March 1st will be given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 2.72%. The ex-dividend date of this dividend is Thursday, February 29th. Baxter International’s dividend payout ratio is currently 22.22%.

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.