United Services Automobile Association Cuts Stock Position in Baxter International Inc. (NYSE:BAX)

United Services Automobile Association trimmed its stake in shares of Baxter International Inc. (NYSE:BAX) by 7.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,927 shares of the medical instruments supplier’s stock after selling 1,056 shares during the period. United Services Automobile Association’s holdings in Baxter International were worth $466,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of BAX. Innealta Capital LLC purchased a new stake in Baxter International during the 2nd quarter valued at about $27,000. LRI Investments LLC purchased a new stake in shares of Baxter International in the first quarter valued at approximately $39,000. United Community Bank acquired a new stake in shares of Baxter International in the fourth quarter valued at approximately $43,000. Versant Capital Management Inc lifted its position in Baxter International by 974.2% during the second quarter. Versant Capital Management Inc now owns 1,332 shares of the medical instruments supplier’s stock worth $45,000 after buying an additional 1,208 shares in the last quarter. Finally, Trust Co. of Vermont lifted its position in Baxter International by 31.0% during the fourth quarter. Trust Co. of Vermont now owns 1,870 shares of the medical instruments supplier’s stock worth $72,000 after buying an additional 443 shares in the last quarter. Institutional investors and hedge funds own 90.19% of the company’s stock.

Baxter International Stock Performance

Shares of BAX opened at $39.27 on Thursday. The stock has a 50-day simple moving average of $36.31 and a 200-day simple moving average of $37.48. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.91 and a current ratio of 1.40. Baxter International Inc. has a 1 year low of $31.01 and a 1 year high of $44.01. The stock has a market capitalization of $20.01 billion, a PE ratio of 7.55, a PEG ratio of 1.32 and a beta of 0.59.

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

Baxter International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.95%. Baxter International’s payout ratio is currently 22.31%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on BAX shares. The Goldman Sachs Group raised their target price on Baxter International from $36.00 to $40.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. JPMorgan Chase & Co. cut their price target on shares of Baxter International from $44.00 to $42.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Evercore ISI decreased their price objective on Baxter International from $46.00 to $45.00 and set an “outperform” rating on the stock in a report on Tuesday, July 2nd. Morgan Stanley cut Baxter International from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $39.00 to $30.00 in a research note on Monday, July 15th. Finally, StockNews.com lowered Baxter International from a “buy” rating to a “hold” rating in a research note on Monday. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $41.73.

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.