Bruce G. Allen Investments LLC Acquires 1,867 Shares of Baxter International Inc. (NYSE:BAX)

Bruce G. Allen Investments LLC lifted its holdings in shares of Baxter International Inc. (NYSE:BAX) by 247.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,622 shares of the medical instruments supplier’s stock after purchasing an additional 1,867 shares during the period. Bruce G. Allen Investments LLC’s holdings in Baxter International were worth $76,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. M&R Capital Management Inc. boosted its holdings in shares of Baxter International by 9.5% during the 3rd quarter. M&R Capital Management Inc. now owns 4,480 shares of the medical instruments supplier’s stock worth $170,000 after buying an additional 390 shares in the last quarter. GAMMA Investing LLC grew its holdings in Baxter International by 6.5% in the third quarter. GAMMA Investing LLC now owns 7,517 shares of the medical instruments supplier’s stock worth $285,000 after purchasing an additional 459 shares during the period. Farther Finance Advisors LLC increased its stake in Baxter International by 23.2% in the third quarter. Farther Finance Advisors LLC now owns 2,519 shares of the medical instruments supplier’s stock valued at $96,000 after purchasing an additional 475 shares in the last quarter. LRI Investments LLC raised its holdings in shares of Baxter International by 60.8% during the third quarter. LRI Investments LLC now owns 1,560 shares of the medical instruments supplier’s stock valued at $59,000 after purchasing an additional 590 shares during the period. Finally, First PREMIER Bank bought a new position in shares of Baxter International during the 3rd quarter worth about $25,000. Institutional investors and hedge funds own 90.19% of the company’s stock.

Baxter International Stock Down 0.8 %

Baxter International stock traded down $0.23 during midday trading on Friday, hitting $29.36. 4,386,618 shares of the stock were exchanged, compared to its average volume of 3,898,817. Baxter International Inc. has a 52-week low of $28.33 and a 52-week high of $44.01. The business’s 50-day moving average price is $31.71 and its 200-day moving average price is $34.83. The stock has a market capitalization of $14.99 billion, a price-to-earnings ratio of 146.81, a price-to-earnings-growth ratio of 12.74 and a beta of 0.59. The company has a quick ratio of 1.09, a current ratio of 1.43 and a debt-to-equity ratio of 1.31.

Baxter International (NYSE:BAX) last released its earnings results on Friday, November 8th. The medical instruments supplier reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.02. Baxter International had a return on equity of 18.30% and a net margin of 0.77%. The company had revenue of $3.85 billion for the quarter, compared to analysts’ expectations of $3.85 billion. During the same period in the previous year, the business posted $0.68 EPS. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. On average, research analysts expect that Baxter International Inc. will post 1.92 EPS for the current fiscal year.

Baxter International Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, November 29th were paid a $0.17 dividend. The ex-dividend date was Friday, November 29th. This represents a $0.68 annualized dividend and a yield of 2.32%. Baxter International’s payout ratio is 340.00%.

Analysts Set New Price Targets

A number of brokerages recently commented on BAX. Stifel Nicolaus decreased their target price on Baxter International from $46.00 to $38.00 and set a “buy” rating for the company in a research report on Monday, November 11th. StockNews.com lowered Baxter International from a “buy” rating to a “hold” rating in a research report on Monday, November 11th. Finally, Citigroup reduced their price target on shares of Baxter International from $37.00 to $35.00 and set a “neutral” rating for the company in a research report on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $40.45.

About Baxter International

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.