Arkadios Wealth Advisors Acquires Shares of 17,245 Baxter International Inc. (NYSE:BAX)

Key Points

• Arkadios Wealth Advisors has acquired 17,245 shares of Baxter International Inc., worth approximately $590,000, according to its recent SEC filing.
• Baxter International reported earnings of $0.59 per share for the last quarter, missing estimates by $0.01, alongside a revenue of $2.81 billion, slightly below expectations.
• The company has declared a quarterly dividend of $0.17, with a payable date of October 1st, representing an annualized yield of 3.1%.

Arkadios Wealth Advisors bought a new stake in shares of Baxter International Inc. (NYSE:BAX - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 17,245 shares of the medical instruments supplier's stock, valued at approximately $590,000.

Several other large investors have also recently made changes to their positions in the business. Rothschild Investment LLC raised its holdings in shares of Baxter International by 3.4% in the 1st quarter. Rothschild Investment LLC now owns 14,479 shares of the medical instruments supplier's stock valued at $496,000 after acquiring an additional 481 shares in the last quarter. Archer Investment Corp increased its stake in Baxter International by 20.5% in the 1st quarter. Archer Investment Corp now owns 2,935 shares of the medical instruments supplier's stock worth $100,000 after purchasing an additional 500 shares during the period. Home Federal Bank of Tennessee grew its position in shares of Baxter International by 2.5% in the 1st quarter. Home Federal Bank of Tennessee now owns 22,600 shares of the medical instruments supplier's stock worth $774,000 after buying an additional 550 shares during the last quarter. Private Trust Co. NA grew its position in shares of Baxter International by 17.3% in the 1st quarter. Private Trust Co. NA now owns 3,822 shares of the medical instruments supplier's stock worth $131,000 after buying an additional 565 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its position in shares of Baxter International by 48.1% during 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 purchasing an additional 656 shares in the last quarter. 90.19% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BAX has been the subject of a number of recent research reports. Wall Street Zen cut Baxter International from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. Stifel Nicolaus reiterated a "hold" rating and set a $25.00 price objective (down previously from $36.00) on shares of Baxter International in a research report on Monday. Morgan Stanley reduced their price target on Baxter International from $28.00 to $27.00 and set an "underweight" rating for the company in a research report on Tuesday, July 15th. Wells Fargo & Company reduced their price target on Baxter International from $33.00 to $24.00 and set an "equal weight" rating for the company in a research report on Friday, August 1st. Finally, Barclays dropped their price objective on Baxter International from $41.00 to $36.00 and set an "overweight" rating for the company in a research note on Monday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $30.11.

Baxter International Trading Up 5.0%

Shares of NYSE BAX traded up $1.12 during midday trading on Thursday, hitting $23.62. The company's stock had a trading volume of 7,923,505 shares, compared to its average volume of 5,169,416. The business's 50 day moving average is $29.05 and its two-hundred day moving average is $30.86. The firm has a market cap of $12.12 billion, a P/E ratio of -78.41, a price-to-earnings-growth ratio of 0.74 and a beta of 0.59. Baxter International Inc. has a 12-month low of $21.33 and a 12-month high of $40.49. The company has a current ratio of 2.02, a quick ratio of 1.40 and a debt-to-equity ratio of 1.33.

Baxter International (NYSE:BAX - Get Free Report) last announced its earnings results on Thursday, July 31st. The medical instruments supplier reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.01). The company had revenue of $2.81 billion for the quarter, compared to the consensus estimate of $2.82 billion. Baxter International had a negative net margin of 1.42% and a positive return on equity of 16.93%. The firm's revenue was up 4.3% compared to the same quarter last year. During the same period last year, the business posted $0.68 EPS. As a group, equities research analysts expect that Baxter International Inc. will post 2.48 EPS for the current year.

Baxter International Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, August 29th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.68 dividend on an annualized basis and a yield of 2.9%. Baxter International's payout ratio is currently -226.67%.

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.