AdvisorNet Financial Inc Lowers Stock Position in Baxter International Inc. (NYSE:BAX)

AdvisorNet Financial Inc lessened its holdings in Baxter International Inc. (NYSE:BAXGet Rating) by 16.7% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 2,083 shares of the medical instruments supplier’s stock after selling 419 shares during the period. AdvisorNet Financial Inc’s holdings in Baxter International were worth $134,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of BAX. Quantitative Investment Management LLC purchased a new stake in shares of Baxter International in the 4th quarter worth approximately $1,978,000. Banco de Sabadell S.A raised its holdings in shares of Baxter International by 16.7% in the fourth quarter. Banco de Sabadell S.A now owns 19,302 shares of the medical instruments supplier’s stock worth $1,658,000 after buying an additional 2,759 shares during the last quarter. Altavista Wealth Management Inc. raised its holdings in shares of Baxter International by 26.3% in the fourth quarter. Altavista Wealth Management Inc. now owns 4,804 shares of the medical instruments supplier’s stock worth $412,000 after buying an additional 1,000 shares during the last quarter. Alpha Paradigm Partners LLC purchased a new position in shares of Baxter International in the fourth quarter worth $700,000. Finally, Laurel Wealth Advisors Inc. purchased a new position in shares of Baxter International in the fourth quarter worth $484,000. Hedge funds and other institutional investors own 84.69% of the company’s stock.

Baxter International Stock Down 2.0 %

BAX stock opened at $55.47 on Thursday. The firm has a market cap of $27.94 billion, a PE ratio of 27.74, a P/E/G ratio of 2.11 and a beta of 0.60. The company has a debt-to-equity ratio of 1.83, a quick ratio of 1.33 and a current ratio of 2.01. The firm’s fifty day moving average is $60.06 and its 200 day moving average is $68.63. Baxter International Inc. has a one year low of $54.45 and a one year high of $89.70.

Baxter International (NYSE:BAXGet Rating) last released its quarterly earnings results on Thursday, July 28th. The medical instruments supplier reported $0.87 EPS for the quarter, meeting the consensus estimate of $0.87. The company had revenue of $3.75 billion for the quarter, compared to analyst estimates of $3.88 billion. Baxter International had a net margin of 7.12% and a return on equity of 21.75%. The firm’s revenue was up 20.9% on a year-over-year basis. During the same quarter last year, the business earned $0.80 earnings per share. On average, research analysts forecast that Baxter International Inc. will post 3.63 EPS for the current year.

Baxter International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Friday, September 2nd will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 2.09%. The ex-dividend date is Thursday, September 1st. Baxter International’s payout ratio is 58.00%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on BAX shares. JPMorgan Chase & Co. decreased their price target on shares of Baxter International from $90.00 to $78.00 and set an “overweight” rating for the company in a report on Friday, June 24th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Baxter International from $99.00 to $69.00 in a report on Friday, July 29th. Morgan Stanley cut their price objective on shares of Baxter International from $86.00 to $72.00 and set an “overweight” rating on the stock in a research note on Friday, July 29th. The Goldman Sachs Group reiterated a “sell” rating and issued a $60.00 price objective (down previously from $70.00) on shares of Baxter International in a research note on Wednesday, August 3rd. Finally, Cowen cut their price objective on shares of Baxter International from $95.00 to $70.00 in a research note on Friday, July 29th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Baxter International currently has an average rating of “Moderate Buy” and an average target price of $77.69.

Baxter International Company Profile

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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; intravenous therapies, infusion pumps, administration sets, and drug reconstitution devices; remixed and oncology drug platforms, inhaled anesthesia and critical care products and pharmacy compounding services; parenteral nutrition therapies and related products; biological products and medical devices used in surgical procedures for hemostasis, tissue sealing and adhesion prevention; and continuous renal replacement therapies and other organ support therapies focused in the intensive care unit.

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

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