ARGA Investment Management LP Grows Holdings in Baxter International Inc. (NYSE:BAX)

ARGA Investment Management LP boosted its holdings in Baxter International Inc. (NYSE:BAX - Free Report) by 52.5% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,327,946 shares of the medical instruments supplier's stock after buying an additional 457,345 shares during the quarter. Baxter International accounts for approximately 1.5% of ARGA Investment Management LP's holdings, making the stock its 18th biggest position. ARGA Investment Management LP owned approximately 0.26% of Baxter International worth $45,456,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Rossby Financial LCC bought a new position in shares of Baxter International during the 1st quarter valued at approximately $29,000. CoreFirst Bank & Trust bought a new position in shares of Baxter International during the 4th quarter valued at approximately $26,000. MassMutual Private Wealth & Trust FSB grew its stake in shares of Baxter International by 48.1% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 2,021 shares of the medical instruments supplier's stock valued at $69,000 after acquiring an additional 656 shares during the period. Bruce G. Allen Investments LLC grew its stake in shares of Baxter International by 35.2% during the 1st quarter. Bruce G. Allen Investments LLC now owns 3,546 shares of the medical instruments supplier's stock valued at $121,000 after acquiring an additional 924 shares during the period. Finally, Private Trust Co. NA grew its stake in shares of Baxter International by 17.3% during the 1st quarter. Private Trust Co. NA now owns 3,822 shares of the medical instruments supplier's stock valued at $131,000 after acquiring an additional 565 shares during the period. Hedge funds and other institutional investors own 90.19% of the company's stock.

Baxter International Price Performance

Shares of BAX traded down $0.99 during mid-day trading on Friday, hitting $28.71. 6,805,825 shares of the stock were exchanged, compared to its average volume of 4,371,118. The company has a market cap of $14.73 billion, a PE ratio of -26.10, a price-to-earnings-growth ratio of 0.87 and a beta of 0.61. Baxter International Inc. has a 52-week low of $26.25 and a 52-week high of $40.49. The firm has a 50-day moving average of $30.55 and a two-hundred day moving average of $31.24. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.40 and a current ratio of 2.02.

Baxter International (NYSE:BAX - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The medical instruments supplier reported $0.62 earnings per share for the quarter, beating 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 for the quarter, compared to analyst estimates of $2.59 billion. During the same quarter in the prior year, the firm posted $0.65 EPS. Baxter International's quarterly revenue was up 5.4% compared to the same quarter last year. On average, equities analysts predict that Baxter International Inc. will post 2.48 earnings per share for the current year.

Baxter International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Friday, May 30th were paid a $0.17 dividend. 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 2.37%. Baxter International's payout ratio is -61.82%.

Analyst Ratings Changes

Several research analysts have weighed in on BAX shares. Evercore ISI dropped their price target on Baxter International from $44.00 to $42.00 and set an "outperform" rating for the company in a research note on Tuesday. Morgan Stanley dropped their price target 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. Citigroup dropped their price target on Baxter International from $34.00 to $32.00 and set a "neutral" rating for the company in a research note on Wednesday. Wells Fargo & Company dropped their price target 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, Wall Street Zen upgraded Baxter International from a "hold" rating to a "buy" rating in a research note on Sunday, June 22nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $36.50.

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.