Baxter International Inc. (NYSE:BAX) Shares Purchased by Argent Trust Co

Argent Trust Co boosted its position in shares of Baxter International Inc. (NYSE:BAX) by 10.7% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 7,073 shares of the medical instruments supplier’s stock after acquiring an additional 684 shares during the period. Argent Trust Co’s holdings in Baxter International were worth $237,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Massmutual Trust Co. FSB ADV grew its position in shares of Baxter International by 15.1% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 2,069 shares of the medical instruments supplier’s stock valued at $88,000 after acquiring an additional 272 shares during the period. Oregon Public Employees Retirement Fund grew its holdings in Baxter International by 0.7% in the second quarter. Oregon Public Employees Retirement Fund now owns 43,751 shares of the medical instruments supplier’s stock valued at $1,463,000 after purchasing an additional 310 shares during the period. Kingswood Wealth Advisors LLC increased its position in shares of Baxter International by 4.6% in the second quarter. Kingswood Wealth Advisors LLC now owns 7,759 shares of the medical instruments supplier’s stock valued at $260,000 after buying an additional 343 shares in the last quarter. Archer Investment Corp raised its stake in shares of Baxter International by 20.8% during the 2nd quarter. Archer Investment Corp now owns 2,235 shares of the medical instruments supplier’s stock worth $75,000 after buying an additional 385 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its position in shares of Baxter International by 20.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,400 shares of the medical instruments supplier’s stock valued at $93,000 after buying an additional 406 shares in the last quarter. Hedge funds and other institutional investors own 90.19% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on BAX shares. Morgan Stanley lowered shares of Baxter International from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $39.00 to $30.00 in a report on Monday, July 15th. JPMorgan Chase & Co. reduced their price target on shares of Baxter International from $44.00 to $42.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. StockNews.com raised Baxter International from a “hold” rating to a “buy” rating in a report on Tuesday. The Goldman Sachs Group lifted their price target on Baxter International from $36.00 to $40.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. Finally, Citigroup reduced their price objective on Baxter International from $38.00 to $37.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Baxter International currently has a consensus rating of “Hold” and a consensus target price of $41.73.

Baxter International Price Performance

NYSE:BAX opened at $38.49 on Friday. Baxter International Inc. has a 52 week low of $31.01 and a 52 week high of $44.01. The stock’s fifty day moving average is $37.02 and its two-hundred day moving average is $37.40. The company has a market capitalization of $19.61 billion, a P/E ratio of 7.40, a P/E/G ratio of 1.33 and a beta of 0.59. The company has a quick ratio of 0.91, a current ratio of 1.40 and a debt-to-equity ratio of 1.35.

Baxter International (NYSE:BAX) last issued its quarterly earnings data on Tuesday, August 6th. The medical instruments supplier reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.02. The firm had revenue of $3.81 billion for the quarter, compared to analyst estimates of $3.75 billion. Baxter International had a net margin of 16.51% and a return on equity of 18.06%. Baxter International’s revenue was up 2.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.55 EPS. Equities analysts expect that Baxter International Inc. will post 2.96 EPS for the current year.

Baxter International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, August 30th will be issued a $0.29 dividend. The ex-dividend date is Friday, August 30th. This represents a $1.16 annualized dividend and a yield of 3.01%. Baxter International’s dividend payout ratio (DPR) is presently 22.31%.

Baxter International 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.