Baxter International Inc. (NYSE:BAX) Shares Bought by GAMMA Investing LLC

GAMMA Investing LLC grew its holdings in shares of Baxter International Inc. (NYSE:BAX) by 156.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 13,948 shares of the medical instruments supplier’s stock after purchasing an additional 8,517 shares during the period. GAMMA Investing LLC’s holdings in Baxter International were worth $596,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of BAX. Headinvest LLC bought a new position in shares of Baxter International during the 3rd quarter valued at about $25,000. Bruce G. Allen Investments LLC purchased a new stake in Baxter International during the fourth quarter valued at about $36,000. Turtle Creek Wealth Advisors LLC purchased a new stake in Baxter International during the fourth quarter valued at about $37,000. Hexagon Capital Partners LLC lifted its stake in Baxter International by 205.4% during the fourth quarter. Hexagon Capital Partners LLC now owns 953 shares of the medical instruments supplier’s stock valued at $37,000 after buying an additional 641 shares in the last quarter. Finally, CKW Financial Group purchased a new stake in Baxter International during the fourth quarter valued at about $43,000. 90.19% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have commented on BAX shares. The Goldman Sachs Group started coverage on shares of Baxter International in a research note on Thursday, May 30th. They set a “neutral” rating and a $36.00 price objective for the company. Citigroup reduced their price objective on shares of Baxter International from $44.00 to $38.00 and set a “neutral” rating for the company in a research note on Wednesday, May 22nd. Bank of America increased their price target 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. Finally, TD Cowen lowered shares of Baxter International from a “buy” rating to a “hold” rating and set a $40.00 price target for the company. in a research report on Friday, May 10th. Nine research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Baxter International has a consensus rating of “Hold” and an average target price of $44.42.

Baxter International Price Performance

Shares of BAX opened at $33.73 on Thursday. The firm has a market cap of $17.19 billion, a PE ratio of 6.49, a PEG ratio of 1.76 and a beta of 0.61. The firm’s 50 day moving average price is $36.21 and its 200 day moving average price is $38.82. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.01 and a current ratio of 1.48. Baxter International Inc. has a twelve month low of $31.01 and a twelve month high of $50.21.

Baxter International (NYSE:BAX) last announced its quarterly earnings results on Thursday, May 2nd. The medical instruments supplier reported $0.65 EPS for the quarter, beating the consensus estimate of $0.61 by $0.04. Baxter International had a return on equity of 18.47% and a net margin of 17.79%. The company had revenue of $3.59 billion for the quarter, compared to the consensus estimate of $3.55 billion. During the same quarter last year, the company posted $0.59 earnings per share. The company’s revenue for the quarter was down 1.6% compared to the same quarter last year. As a group, research analysts expect that Baxter International Inc. will post 2.91 EPS for the current fiscal year.

Baxter International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, May 31st will be issued a dividend of $0.29 per share. The ex-dividend date is Friday, May 31st. This represents a $1.16 annualized dividend and a yield of 3.44%. Baxter International’s dividend payout ratio (DPR) is presently 22.31%.

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.