Bank of New York Mellon Corp Lowers Position in Baxter International Inc. (NYSE:BAX)

Bank of New York Mellon Corp lowered its position in Baxter International Inc. (NYSE:BAX - Free Report) by 7.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 14,202,102 shares of the medical instruments supplier's stock after selling 1,156,938 shares during the quarter. Bank of New York Mellon Corp owned about 2.77% of Baxter International worth $486,138,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Dodge & Cox increased its stake in Baxter International by 13.0% in the fourth quarter. Dodge & Cox now owns 50,377,294 shares of the medical instruments supplier's stock valued at $1,469,002,000 after acquiring an additional 5,779,100 shares during the last quarter. Sound Shore Management Inc. CT bought a new position in Baxter International in the fourth quarter valued at $72,450,000. Thompson Siegel & Walmsley LLC increased its stake in Baxter International by 35.1% in the fourth quarter. Thompson Siegel & Walmsley LLC now owns 2,548,215 shares of the medical instruments supplier's stock valued at $74,306,000 after acquiring an additional 662,042 shares during the last quarter. Russell Investments Group Ltd. increased its stake in Baxter International by 40.4% in the fourth quarter. Russell Investments Group Ltd. now owns 1,745,709 shares of the medical instruments supplier's stock valued at $50,904,000 after acquiring an additional 502,370 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in Baxter International by 11,821.6% in the first quarter. GAMMA Investing LLC now owns 387,689 shares of the medical instruments supplier's stock valued at $13,271,000 after acquiring an additional 384,437 shares during the last quarter. Institutional investors own 90.19% of the company's stock.

Baxter International Trading Down 2.3%

Shares of Baxter International stock traded down $0.73 during trading on Monday, reaching $30.28. 1,786,529 shares of the stock were exchanged, compared to its average volume of 4,408,810. 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 stock's fifty day moving average is $30.67 and its 200 day moving average is $31.25. The firm has a market cap of $15.54 billion, a price-to-earnings ratio of -27.51, a price-to-earnings-growth ratio of 0.91 and a beta of 0.61. Baxter International Inc. has a 1 year low of $26.25 and a 1 year high of $40.49.

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

Baxter International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Friday, May 30th were issued a $0.17 dividend. The ex-dividend date was Friday, May 30th. This represents a $0.68 annualized dividend and a yield of 2.25%. Baxter International's dividend payout ratio (DPR) is presently -61.82%.

Wall Street Analyst Weigh In

A number of research firms recently commented on BAX. Wall Street Zen raised Baxter International from a "hold" rating to a "buy" rating in a research note on Sunday, June 22nd. Barclays upped their price target on shares of Baxter International from $39.00 to $41.00 and gave the company an "overweight" rating in a research report on Monday, March 10th. Morgan Stanley cut their price target on shares of Baxter International from $30.00 to $28.00 and set an "underweight" rating for the company in a research report on Monday, May 5th. Finally, Wells Fargo & Company cut their price target on shares of Baxter International from $36.00 to $33.00 and set an "equal weight" rating for the company in a research report on Friday, May 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $36.14.

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.