Baxter International Inc. (NYSE:BAX) Shares Purchased by ARGA Investment Management LP

ARGA Investment Management LP boosted its position in shares of Baxter International Inc. (NYSE:BAX - Free Report) by 52.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,327,946 shares of the medical instruments supplier's stock after buying an additional 457,345 shares during the period. Baxter International accounts for approximately 1.5% of ARGA Investment Management LP's portfolio, making the stock its 18th biggest holding. ARGA Investment Management LP owned about 0.26% of Baxter International worth $45,456,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. CoreFirst Bank & Trust purchased a new stake in shares of Baxter International in the fourth quarter valued at approximately $26,000. Rossby Financial LCC purchased a new stake in shares of Baxter International in the first quarter valued at approximately $29,000. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Baxter International by 48.1% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 2,021 shares of the medical instruments supplier's stock valued at $69,000 after buying an additional 656 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in shares of Baxter International by 61.2% in the fourth quarter. Farther Finance Advisors LLC now owns 4,060 shares of the medical instruments supplier's stock valued at $118,000 after buying an additional 1,541 shares in the last quarter. Finally, Bruce G. Allen Investments LLC boosted its stake in shares of Baxter International by 35.2% in the first quarter. Bruce G. Allen Investments LLC now owns 3,546 shares of the medical instruments supplier's stock valued at $121,000 after buying an additional 924 shares in the last quarter. Institutional investors and hedge funds own 90.19% of the company's stock.

Baxter International Stock Up 3.2%

Shares of NYSE BAX traded up $0.94 on Tuesday, hitting $30.63. The company had a trading volume of 6,297,970 shares, compared to its average volume of 4,348,763. Baxter International Inc. has a 12-month low of $26.25 and a 12-month high of $40.49. The business has a 50 day moving average of $30.65 and a two-hundred day moving average of $31.25. The company has a quick ratio of 1.40, a current ratio of 2.02 and a debt-to-equity ratio of 1.33. The firm has a market capitalization of $15.72 billion, a P/E ratio of -27.85, a PEG ratio of 0.91 and a beta of 0.61.

Baxter International (NYSE:BAX - Get Free Report) last issued its earnings results on Thursday, May 1st. The medical instruments supplier reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.14. Baxter International had a positive return on equity of 17.24% and a negative net margin of 4.71%. The company had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.59 billion. During the same quarter in the prior year, the business earned $0.65 earnings per share. The company's revenue was up 5.4% compared to the same quarter last year. As a group, equities research analysts forecast that Baxter International Inc. will post 2.48 earnings per share for the current fiscal year.

Baxter International Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Friday, May 30th were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.68 dividend on an annualized basis and a yield of 2.22%. Baxter International's dividend payout ratio (DPR) is presently -61.82%.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. Wall Street Zen upgraded Baxter International from a "hold" rating to a "buy" rating in a research note on Sunday, June 22nd. Evercore ISI reduced their price objective on Baxter International from $44.00 to $42.00 and set an "outperform" rating on the stock in a research report on Tuesday. Morgan Stanley dropped their target price on Baxter International from $30.00 to $28.00 and set an "underweight" rating for the company in a research note on Monday, May 5th. Wells Fargo & Company dropped their target price on Baxter International from $36.00 to $33.00 and set an "equal weight" rating for the company in a research note on Friday, May 2nd. Finally, Barclays upped their price target on Baxter International from $39.00 to $41.00 and gave the stock an "overweight" rating in a research note on Monday, March 10th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Baxter International has an average rating of "Moderate Buy" and an average target price of $36.88.

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.