Bank of New York Mellon Corp Has $486.14 Million Stock Holdings in Baxter International Inc. (NYSE:BAX)

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

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp grew its holdings in Baxter International by 12.1% in the fourth quarter. Jones Financial Companies Lllp now owns 20,466 shares of the medical instruments supplier's stock valued at $597,000 after purchasing an additional 2,201 shares during the period. E Fund Management Co. Ltd. acquired a new stake in shares of Baxter International during the fourth quarter worth $339,000. Generali Investments CEE investicni spolecnost a.s. acquired a new stake in shares of Baxter International during the fourth quarter worth $188,000. Amundi increased its holdings in shares of Baxter International by 41.1% in the 4th quarter. Amundi now owns 1,319,274 shares of the medical instruments supplier's stock worth $39,037,000 after acquiring an additional 384,349 shares during the period. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of Baxter International by 93.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 6,455 shares of the medical instruments supplier's stock worth $188,000 after acquiring an additional 3,123 shares during the period. Institutional investors and hedge funds own 90.19% of the company's stock.

Baxter International Stock Up 2.0%

NYSE BAX traded up $0.60 during trading hours on Tuesday, reaching $30.29. 2,286,104 shares of the company's stock were exchanged, compared to its average volume of 4,333,121. The company's 50-day moving average is $30.65 and its two-hundred day moving average is $31.25. Baxter International Inc. has a one year low of $26.25 and a one year high of $40.49. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.40 and a current ratio of 2.02. The company has a market capitalization of $15.54 billion, a price-to-earnings ratio of -27.54, a price-to-earnings-growth ratio of 0.91 and a beta of 0.61.

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, topping analysts' consensus estimates 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 firm 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 firm posted $0.65 EPS. The business's revenue was up 5.4% on a year-over-year basis. On average, analysts forecast that Baxter International Inc. will post 2.48 EPS for the current fiscal year.

Baxter International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Friday, May 30th were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 2.24%. The ex-dividend date of this dividend was Friday, May 30th. Baxter International's payout ratio is -61.82%.

Analyst Ratings Changes

Several research firms have recently weighed in on BAX. Wall Street Zen upgraded shares of Baxter International from a "hold" rating to a "buy" rating in a research report on Sunday, June 22nd. Barclays raised their target price on shares of Baxter International from $39.00 to $41.00 and gave the stock an "overweight" rating in a report on Monday, March 10th. Wells Fargo & Company decreased their target price on shares of Baxter International from $36.00 to $33.00 and set an "equal weight" rating for the company in a report on Friday, May 2nd. Morgan Stanley reduced 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, Evercore ISI cut their price objective on shares of Baxter International from $44.00 to $42.00 and set an "outperform" rating on the stock in a research report on Tuesday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, Baxter International has an average rating of "Moderate Buy" and an average target price of $36.88.

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.