Rodgers Brothers Inc. Grows Stock Holdings in Baxter International Inc. (NYSE:BAX)

Rodgers Brothers Inc. raised its stake in Baxter International Inc. (NYSE:BAX) by 0.8% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 19,017 shares of the medical instruments supplier’s stock after buying an additional 150 shares during the period. Rodgers Brothers Inc.’s holdings in Baxter International were worth $1,604,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the business. New York State Common Retirement Fund raised its holdings in shares of Baxter International by 9.8% in the 1st quarter. New York State Common Retirement Fund now owns 2,750,786 shares of the medical instruments supplier’s stock valued at $232,001,000 after purchasing an additional 245,223 shares in the last quarter. Amundi Asset Management US Inc. raised its stake in shares of Baxter International by 13.0% during the 1st quarter. Amundi Asset Management US Inc. now owns 1,616,225 shares of the medical instruments supplier’s stock worth $136,313,000 after acquiring an additional 186,142 shares in the last quarter. BNP Paribas Arbitrage SA raised its stake in shares of Baxter International by 136.5% during the 1st quarter. BNP Paribas Arbitrage SA now owns 267,075 shares of the medical instruments supplier’s stock worth $22,525,000 after acquiring an additional 154,157 shares in the last quarter. Amundi Pioneer Asset Management Inc. raised its stake in shares of Baxter International by 8.3% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 1,430,083 shares of the medical instruments supplier’s stock worth $114,749,000 after acquiring an additional 109,585 shares in the last quarter. Finally, Putnam Investments LLC raised its stake in shares of Baxter International by 3.1% during the 1st quarter. Putnam Investments LLC now owns 3,226,055 shares of the medical instruments supplier’s stock worth $272,085,000 after acquiring an additional 97,826 shares in the last quarter. 85.15% of the stock is owned by institutional investors.

Several analysts have weighed in on BAX shares. Citigroup boosted their target price on shares of Baxter International from $94.00 to $98.00 in a research report on Friday, April 30th. Piper Sandler upped their price objective on shares of Baxter International from $80.00 to $85.00 and gave the company an “in-line” rating in a report on Thursday, April 29th. Barclays began coverage on shares of Baxter International in a report on Monday, May 24th. They issued an “equal weight” rating and a $93.00 price objective on the stock. Finally, increased their price target on shares of Baxter International from $94.00 to $98.00 and gave the stock a “buy” rating in a report on Friday, April 30th. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Baxter International presently has a consensus rating of “Buy” and a consensus target price of $90.55.

NYSE:BAX traded up $0.23 during trading hours on Thursday, reaching $80.50. 20,986 shares of the company were exchanged, compared to its average volume of 2,506,214. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.83 and a current ratio of 2.46. The stock has a 50-day moving average of $81.80. The firm has a market cap of $40.48 billion, a price-to-earnings ratio of 26.58, a PEG ratio of 2.37 and a beta of 0.68. Baxter International Inc. has a twelve month low of $74.79 and a twelve month high of $91.45.

Baxter International (NYSE:BAX) last issued its earnings results on Wednesday, April 28th. The medical instruments supplier reported $0.76 EPS for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.12. The business had revenue of $2.95 billion during the quarter, compared to analysts’ expectations of $2.89 billion. Baxter International had a net margin of 9.04% and a return on equity of 18.34%. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.82 earnings per share. As a group, research analysts anticipate that Baxter International Inc. will post 3.52 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 1st. Stockholders of record on Friday, September 3rd will be given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date is Thursday, September 2nd. Baxter International’s dividend payout ratio (DPR) is 36.25%.

Baxter International Profile

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; renal replacement therapies and other organ support therapies focused in the intensive care unit; sterile intravenous (IV) solutions, IV therapies, infusion pumps, administration sets, and drug reconstitution devices; and parenteral nutrition therapies.

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

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