Trust Co. of Toledo NA OH Trims Stock Position in Baxter International Inc. (NYSE:BAX)

Trust Co. of Toledo NA OH trimmed its holdings in shares of Baxter International Inc. (NYSE:BAX) by 10.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,913 shares of the medical instruments supplier’s stock after selling 2,132 shares during the period. Trust Co. of Toledo NA OH’s holdings in Baxter International were worth $718,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. LSV Asset Management acquired a new stake in Baxter International during the 2nd quarter valued at $140,296,000. Bank of New York Mellon Corp increased its position in Baxter International by 73.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 6,772,533 shares of the medical instruments supplier’s stock worth $226,541,000 after purchasing an additional 2,862,626 shares in the last quarter. Thompson Siegel & Walmsley LLC purchased a new position in Baxter International in the 2nd quarter valued at about $67,263,000. Shapiro Capital Management LLC lifted its holdings in Baxter International by 19.7% in the 2nd quarter. Shapiro Capital Management LLC now owns 3,285,048 shares of the medical instruments supplier’s stock valued at $109,885,000 after purchasing an additional 541,575 shares in the last quarter. Finally, ARGA Investment Management LP acquired a new stake in shares of Baxter International during the 1st quarter worth about $10,951,000. 90.19% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BAX has been the topic of several recent analyst reports. The Goldman Sachs Group upped their price objective on shares of Baxter International from $36.00 to $40.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. JPMorgan Chase & Co. decreased their price objective on Baxter International from $44.00 to $42.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Wells Fargo & Company dropped their target price on Baxter International from $44.00 to $40.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 7th. Citigroup raised their price target on Baxter International from $38.00 to $40.00 and gave the stock a “neutral” rating in a research note on Tuesday. Finally, Morgan Stanley downgraded shares of Baxter International from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $39.00 to $30.00 in a research note on Monday, July 15th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $42.00.

Baxter International Stock Performance

NYSE BAX opened at $35.08 on Friday. The business’s 50-day simple moving average is $37.46 and its 200-day simple moving average is $37.09. The firm has a market capitalization of $17.88 billion, a P/E ratio of 6.75, a P/E/G ratio of 1.32 and a beta of 0.59. Baxter International Inc. has a 1-year low of $31.01 and a 1-year high of $44.01. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.40 and a quick ratio of 0.91.

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

Baxter International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, August 30th were issued a $0.29 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.16 annualized dividend and a yield of 3.31%. Baxter International’s dividend payout ratio is currently 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.