CIBC Private Wealth Group LLC Acquires 1,818 Shares of Baxter International Inc. (NYSE:BAX)

CIBC Private Wealth Group LLC boosted its stake in shares of Baxter International Inc. (NYSE:BAXFree Report) by 10.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,894 shares of the medical instruments supplier’s stock after buying an additional 1,818 shares during the period. CIBC Private Wealth Group LLC’s holdings in Baxter International were worth $769,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Pzena Investment Management LLC bought a new position in shares of Baxter International during the third quarter valued at $215,935,000. Rodgers Brothers Inc. raised its holdings in Baxter International by 5.7% in the third quarter. Rodgers Brothers Inc. now owns 140,423 shares of the medical instruments supplier’s stock worth $5,300,000 after buying an additional 7,546 shares during the last quarter. Cary Street Partners Investment Advisory LLC raised its holdings in Baxter International by 450.6% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 2,230 shares of the medical instruments supplier’s stock worth $84,000 after buying an additional 1,825 shares during the last quarter. United Services Automobile Association lifted its stake in shares of Baxter International by 31.0% in the third quarter. United Services Automobile Association now owns 14,983 shares of the medical instruments supplier’s stock worth $565,000 after buying an additional 3,543 shares in the last quarter. Finally, Shapiro Capital Management LLC purchased a new stake in shares of Baxter International during the third quarter valued at approximately $114,307,000. Hedge funds and other institutional investors own 90.19% of the company’s stock.

Analyst Upgrades and Downgrades

BAX has been the topic of several analyst reports. Bank of America upped their price objective on Baxter International from $42.00 to $45.00 and gave the company a “neutral” rating in a research report on Tuesday, March 5th. TD Cowen cut Baxter International from a “buy” rating to a “hold” rating and set a $40.00 price objective on the stock. in a research report on Friday, May 10th. Citigroup reduced their price objective on Baxter International from $44.00 to $38.00 and set a “neutral” rating for the company in a report on Wednesday, May 22nd. Barclays upped their target price on shares of Baxter International from $52.00 to $54.00 and gave the company an “overweight” rating in a research note on Monday, February 12th. Finally, The Goldman Sachs Group began coverage on shares of Baxter International in a research note on Thursday, May 30th. They issued a “neutral” rating and a $36.00 price target for the company. Nine analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $44.42.

Check Out Our Latest Stock Report on BAX

Baxter International Price Performance

Shares of NYSE:BAX opened at $32.89 on Tuesday. The firm’s 50 day moving average price is $37.48 and its 200-day moving average price is $38.97. The company has a quick ratio of 1.01, a current ratio of 1.48 and a debt-to-equity ratio of 1.35. The stock has a market capitalization of $16.76 billion, a PE ratio of 6.33, a price-to-earnings-growth ratio of 1.73 and a beta of 0.61. Baxter International Inc. has a twelve month low of $31.01 and a twelve month high of $50.21.

Baxter International (NYSE:BAXGet Free Report) last released its quarterly earnings results on Thursday, May 2nd. The medical instruments supplier reported $0.65 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $3.55 billion. During the same period last year, the firm earned $0.59 earnings per share. The company’s quarterly revenue was down 1.6% on a year-over-year basis. Equities research analysts expect that Baxter International Inc. will post 2.91 EPS for the current year.

Baxter International Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, May 31st will be given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 3.53%. The ex-dividend date is Friday, May 31st. Baxter International’s dividend payout ratio is presently 22.31%.

About Baxter International

(Free Report)

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.

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

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