Cullen Capital Management LLC Decreases Holdings in Baxter International Inc. (NYSE:BAX)

Cullen Capital Management LLC trimmed its holdings in shares of Baxter International Inc. (NYSE:BAX - Free Report) by 4.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,386,281 shares of the medical instruments supplier's stock after selling 63,756 shares during the quarter. Cullen Capital Management LLC owned 0.27% of Baxter International worth $40,424,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of BAX. Sumitomo Mitsui Trust Group Inc. increased its position in shares of Baxter International by 1.9% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,160,666 shares of the medical instruments supplier's stock valued at $33,845,000 after purchasing an additional 21,592 shares during the last quarter. Nicholas Hoffman & Company LLC. purchased a new stake in Baxter International during the fourth quarter worth about $907,000. Geode Capital Management LLC raised its position in Baxter International by 1.4% in the third quarter. Geode Capital Management LLC now owns 12,156,660 shares of the medical instruments supplier's stock worth $460,022,000 after acquiring an additional 170,776 shares during the period. Bank of New York Mellon Corp grew its position in shares of Baxter International by 22.3% during the 4th quarter. Bank of New York Mellon Corp now owns 15,359,040 shares of the medical instruments supplier's stock valued at $447,870,000 after acquiring an additional 2,803,920 shares during the period. Finally, Toronto Dominion Bank increased its stake in shares of Baxter International by 15.4% during the 3rd quarter. Toronto Dominion Bank now owns 170,855 shares of the medical instruments supplier's stock worth $6,487,000 after purchasing an additional 22,787 shares during the last quarter. 90.19% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on BAX shares. Barclays upped their price objective on Baxter International from $39.00 to $41.00 and gave the company an "overweight" rating in a research note on Monday, March 10th. The Goldman Sachs Group initiated coverage on Baxter International in a research note on Wednesday, February 26th. They set a "buy" rating and a $42.00 price target for the company. Argus raised shares of Baxter International from a "hold" rating to a "buy" rating in a report on Monday, February 24th. JPMorgan Chase & Co. reduced their target price on shares of Baxter International from $38.00 to $36.00 and set a "neutral" rating for the company in a research note on Friday, February 21st. Finally, Citigroup dropped their price target on shares of Baxter International from $37.00 to $35.00 and set a "neutral" rating on the stock in a research note on Wednesday, December 11th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $38.56.

Baxter International Price Performance

NYSE:BAX traded down $2.64 during trading hours on Thursday, hitting $28.11. The stock had a trading volume of 3,118,925 shares, compared to its average volume of 4,908,455. The company has a 50 day simple moving average of $32.88 and a two-hundred day simple moving average of $33.10. The firm has a market capitalization of $14.42 billion, a price-to-earnings ratio of -21.96, a P/E/G ratio of 0.93 and a beta of 0.64. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.43 and a quick ratio of 1.09. Baxter International Inc. has a one year low of $26.25 and a one year high of $42.47.

Baxter International (NYSE:BAX - Get Free Report) last announced its earnings results on Thursday, February 20th. The medical instruments supplier reported $0.58 earnings per share for the quarter, topping analysts' consensus estimates of $0.52 by $0.06. Baxter International had a positive return on equity of 16.67% and a negative net margin of 5.05%. The business had revenue of $2.75 billion for the quarter, compared to analyst estimates of $2.67 billion. Research analysts forecast that Baxter International Inc. will post 2.48 earnings per share for the current fiscal year.

Baxter International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, February 28th were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date was Friday, February 28th. Baxter International's payout ratio is -53.13%.

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.