Amalgamated Bank Cuts Stake in Baxter International Inc. (NYSE:BAX)

Amalgamated Bank trimmed its stake in Baxter International Inc. (NYSE:BAX) by 2.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 123,341 shares of the medical instruments supplier’s stock after selling 3,737 shares during the quarter. Amalgamated Bank’s holdings in Baxter International were worth $4,768,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Ameriprise Financial Inc. grew its stake in shares of Baxter International by 11.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 10,836,563 shares of the medical instruments supplier’s stock valued at $408,992,000 after buying an additional 1,098,787 shares during the period. Pzena Investment Management LLC acquired a new stake in Baxter International during the third quarter worth about $215,935,000. Carmignac Gestion raised its holdings in shares of Baxter International by 467.0% in the 3rd quarter. Carmignac Gestion now owns 4,848,773 shares of the medical instruments supplier’s stock worth $182,992,000 after purchasing an additional 3,993,537 shares during the period. California Public Employees Retirement System grew its holdings in shares of Baxter International by 1.0% during the 3rd quarter. California Public Employees Retirement System now owns 3,151,515 shares of the medical instruments supplier’s stock worth $118,938,000 after purchasing an additional 30,477 shares during the period. Finally, Shapiro Capital Management LLC acquired a new stake in Baxter International during the 3rd quarter worth approximately $114,307,000. Institutional investors and hedge funds own 90.19% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on BAX shares. JPMorgan Chase & Co. lifted their price target on shares of Baxter International from $38.00 to $44.00 and gave the company a “neutral” rating in a research report on Friday, February 9th. Barclays increased their target price on Baxter International from $52.00 to $54.00 and gave the company an “overweight” rating in a research note on Monday, February 12th. Citigroup raised their target price on Baxter International from $41.00 to $44.00 and gave the company a “neutral” rating in a report on Wednesday, April 3rd. StockNews.com raised shares of Baxter International from a “hold” rating to a “buy” rating in a research report on Friday, January 19th. Finally, Bank of America boosted their target price on shares of Baxter International from $42.00 to $45.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 5th. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Baxter International has an average rating of “Hold” and an average target price of $46.30.

Baxter International Price Performance

Shares of NYSE BAX opened at $36.13 on Wednesday. The company has a market capitalization of $18.41 billion, a price-to-earnings ratio of 6.95, a price-to-earnings-growth ratio of 1.97 and a beta of 0.64. The business has a 50 day simple moving average of $41.30 and a 200-day simple moving average of $38.89. The company has a current ratio of 1.48, a quick ratio of 1.01 and a debt-to-equity ratio of 1.35. Baxter International Inc. has a twelve month low of $31.01 and a twelve month high of $50.21.

Baxter International (NYSE:BAX) last released its quarterly earnings data on Thursday, May 2nd. The medical instruments supplier reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.04. Baxter International had a net margin of 17.79% and a return on equity of 18.47%. The business had revenue of $3.59 billion for the quarter, compared to analysts’ expectations of $3.55 billion. During the same quarter last year, the company earned $0.59 EPS. The company’s revenue for the quarter was down 1.6% compared to the same quarter last year. As a group, equities research analysts expect that Baxter International Inc. will post 2.9 earnings per share for the current year.

Baxter International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 1st were paid a $0.29 dividend. The ex-dividend date was Thursday, February 29th. This represents a $1.16 annualized dividend and a dividend yield of 3.21%. Baxter International’s payout ratio is 22.31%.

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.