Baxter International Inc. $BAX Shares Newly Purchased by Mirae Asset Global Investments Co. Ltd.

Key Points

• Mirae Asset Global Investments acquired 132,189 Baxter International shares in the third quarter, valued at approximately $3.17 million.
• Institutional investors and hedge funds own 90.19% of Baxter shares; several other investment firms also recently disclosed new positions.
• Baxter beat quarterly earnings and revenue estimates, reporting EPS of $0.58 and revenue of $2.98 billion. Analyst sentiment remained cautious, with a consensus “Reduce” rating and an average price target of $23.

Mirae Asset Global Investments Co. Ltd. bought a new position in Baxter International Inc. (NYSE:BAX - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 132,189 shares of the medical instruments supplier's stock, valued at approximately $3,173,000.

Other hedge funds also recently made changes to their positions in the company. Pzena Investment Management LLC bought a new position in Baxter International in the second quarter valued at about $1,392,098,000. Tocqueville Asset Management L.P. bought a new position in Baxter International in the 2nd quarter valued at approximately $30,604,000. BlackRock Inc. acquired a new stake in Baxter International during the 2nd quarter worth approximately $1,744,874,000. Edmond DE Rothschild Holding S.A. acquired a new stake in Baxter International during the 2nd quarter worth approximately $51,958,000. Finally, AMG National Trust Bank acquired a new stake in Baxter International during the 2nd quarter worth approximately $2,522,000. 90.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. UBS Group raised their price objective on shares of Baxter International from $19.00 to $25.00 and gave the stock a "hold" rating in a research report on Tuesday, July 28th. Stifel Nicolaus upped their price target on Baxter International from $19.00 to $24.00 and gave the stock a "hold" rating in a research note on Tuesday, July 28th. Zacks Research upgraded shares of Baxter International from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 11th. Wall Street Zen upgraded shares of Baxter International from a "hold" rating to a "buy" rating in a research report on Saturday, October 31st. Finally, TD Cowen raised their target price on Baxter International from $20.00 to $24.00 and gave the stock a "hold" rating in a research report on Monday, July 27th. One analyst has rated the stock with a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Reduce" and an average price target of $23.00.

Baxter International Trading Up 0.3%

Shares of NYSE:BAX traded up $0.09 during trading on Friday, reaching $25.73. 6,194,614 shares of the company traded hands, compared to its average volume of 6,856,994. The business's fifty day moving average is $24.50 and its 200-day moving average is $21.51. Baxter International Inc. has a 52-week low of $15.73 and a 52-week high of $30.00. The firm has a market capitalization of $13.31 billion, a price-to-earnings ratio of -18.25, a P/E/G ratio of 3.57 and a beta of 0.68. The company has a current ratio of 1.79, a quick ratio of 1.19 and a debt-to-equity ratio of 1.20.

Baxter International (NYSE:BAX - Get Free Report) last announced its earnings results on Thursday, October 29th. The medical instruments supplier reported $0.58 EPS for the quarter, beating analysts' consensus estimates of $0.52 by $0.06. Baxter International had a negative net margin of 6.23% and a positive return on equity of 16.23%. The firm had revenue of $2.98 billion for the quarter, compared to analysts' expectations of $2.91 billion. During the same quarter in the previous year, the business posted $0.69 EPS. The company's quarterly revenue was up 5.0% on a year-over-year basis. As a group, analysts forecast that Baxter International Inc. will post 2.10 EPS for the current year.

Baxter International Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, January 4th. Stockholders of record on Friday, November 27th will be issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend is Friday, November 27th. Baxter International's dividend payout ratio is presently -2.84%.

Baxter International Profile

Baxter International Inc is a global medical products and healthcare technology company headquartered in Deerfield, Illinois. The company develops, manufactures and distributes products used in hospitals, clinics, ambulatory care centers and other healthcare settings.

Baxter's portfolio has included intravenous therapies and administration systems, infusion pumps, connected-care technologies, surgical products, patient monitoring equipment and products used in medication preparation and delivery.

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