Bard Financial Services Inc. Takes Position in Baxter International Inc. (NYSE:BAX)

Bard Financial Services Inc. purchased a new stake in shares of Baxter International Inc. (NYSE:BAX - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 28,090 shares of the medical instruments supplier's stock, valued at approximately $962,000.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Sumitomo Mitsui Trust Group Inc. grew its stake in Baxter International by 1.9% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,160,666 shares of the medical instruments supplier's stock valued at $33,845,000 after purchasing an additional 21,592 shares in the last quarter. Nicholas Hoffman & Company LLC. acquired a new stake in shares of Baxter International during the 4th quarter valued at about $907,000. Bank of New York Mellon Corp grew its stake in shares of Baxter International by 22.3% in the 4th quarter. Bank of New York Mellon Corp now owns 15,359,040 shares of the medical instruments supplier's stock valued at $447,870,000 after buying an additional 2,803,920 shares in the last quarter. Dodge & Cox increased its holdings 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 worth $1,469,002,000 after buying an additional 5,779,100 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its holdings 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 worth $50,904,000 after buying an additional 502,370 shares during the last quarter. 90.19% of the stock is currently owned by hedge funds and other institutional investors.

Baxter International Stock Performance

Shares of BAX traded down $0.14 during mid-day trading on Thursday, hitting $31.26. The company's stock had a trading volume of 943,298 shares, compared to its average volume of 4,414,361. The stock's 50-day moving average is $30.11 and its two-hundred day moving average is $31.39. The firm has a market capitalization of $16.04 billion, a PE ratio of -24.42, a price-to-earnings-growth ratio of 0.93 and a beta of 0.61. The company has a debt-to-equity ratio of 1.31, a quick ratio of 1.09 and a current ratio of 1.43. Baxter International Inc. has a one year low of $26.25 and a one year high of $40.49.

Baxter International (NYSE:BAX - Get Free Report) last released its earnings results on Thursday, May 1st. The medical instruments supplier reported $0.62 EPS for the quarter, beating the consensus estimate of $0.48 by $0.14. The firm had revenue of $2.63 billion during the quarter, compared to analysts' expectations of $2.59 billion. Baxter International had a negative net margin of 5.05% and a positive return on equity of 16.67%. The business's quarterly revenue was up 5.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.65 EPS. As a group, sell-side analysts anticipate that Baxter International Inc. will post 2.48 EPS for the current year.

Baxter International Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, May 30th will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 2.18%. The ex-dividend date of this dividend is Friday, May 30th. Baxter International's payout ratio is presently -61.82%.

Analyst Upgrades and Downgrades

BAX has been the topic of several analyst reports. Barclays increased their price target on shares of Baxter International from $39.00 to $41.00 and gave the stock an "overweight" rating in a research note on Monday, March 10th. Morgan Stanley decreased 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. Argus raised Baxter International from a "hold" rating to a "buy" rating in a report on Monday, February 24th. The Goldman Sachs Group started coverage on Baxter International in a research note on Wednesday, February 26th. They issued a "buy" rating and a $42.00 price objective on the stock. Finally, JPMorgan Chase & Co. decreased their target price on Baxter International from $38.00 to $36.00 and set a "neutral" rating for the company in a research report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $37.25.

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.