Raiffeisen Bank International AG Boosts Stock Position in Baxter International Inc. (NYSE:BAX)

Key Points

• Raiffeisen Bank International AG increased its stake in Baxter International Inc. by 24.9%, now holding 95,668 shares worth approximately $3.23 million.
• In its latest earnings report, Baxter International missed earnings expectations, reporting $0.59 EPS against a consensus estimate of $0.60 EPS, while revenue was $2.81 billion, slightly below estimates.
• The company declared a quarterly dividend of $0.17 per share, translating to an annualized yield of 3.1%, with a negative payout ratio of -226.67%.

Raiffeisen Bank International AG grew its stake in Baxter International Inc. (NYSE:BAX - Free Report) by 24.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 95,668 shares of the medical instruments supplier's stock after acquiring an additional 19,081 shares during the period. Raiffeisen Bank International AG's holdings in Baxter International were worth $3,229,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Dodge & Cox boosted its position in shares of 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 period. Sound Shore Management Inc. CT increased its stake in shares of Baxter International by 13.7% in the 1st quarter. Sound Shore Management Inc. CT now owns 2,825,902 shares of the medical instruments supplier's stock valued at $96,731,000 after acquiring an additional 341,321 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Baxter International by 40.4% during 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 buying an additional 502,370 shares during the last quarter. ARGA Investment Management LP grew its stake in shares of Baxter International by 52.5% in the 1st quarter. ARGA Investment Management LP now owns 1,327,946 shares of the medical instruments supplier's stock worth $45,456,000 after acquiring an additional 457,345 shares in the last quarter. Finally, Rhumbline Advisers raised its position in Baxter International by 9.0% in the first quarter. Rhumbline Advisers now owns 1,212,971 shares of the medical instruments supplier's stock worth $41,520,000 after acquiring an additional 99,846 shares during the period. 90.19% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on BAX shares. Evercore ISI dropped their price objective on Baxter International from $44.00 to $42.00 and set an "outperform" rating for the company in a research note on Tuesday, July 8th. The Goldman Sachs Group lowered Baxter International from a "buy" rating to a "neutral" rating and set a $25.00 price objective for the company. in a report on Friday, August 1st. UBS Group dropped their price target on Baxter International from $35.00 to $24.00 and set a "neutral" rating for the company in a research note on Monday. Morgan Stanley reduced their price objective on Baxter International from $28.00 to $27.00 and set an "underweight" rating on the stock in a research note on Tuesday, July 15th. Finally, Barclays decreased their price objective on Baxter International from $41.00 to $36.00 and set an "overweight" rating for the company in a report on Monday. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $30.11.

Baxter International Price Performance

Shares of NYSE BAX traded up $1.00 during mid-day trading on Thursday, reaching $23.50. The company's stock had a trading volume of 12,210,109 shares, compared to its average volume of 5,193,347. 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 stock has a 50-day moving average of $29.05 and a two-hundred day moving average of $30.86. The stock has a market capitalization of $12.06 billion, a P/E ratio of -78.32, a P/E/G ratio of 0.74 and a beta of 0.59. Baxter International Inc. has a 1-year low of $21.33 and a 1-year high of $40.49.

Baxter International (NYSE:BAX - Get Free Report) last issued its earnings results on Thursday, July 31st. The medical instruments supplier reported $0.59 EPS for the quarter, missing analysts' consensus estimates of $0.60 by ($0.01). The firm had revenue of $2.81 billion for the quarter, compared to analyst estimates of $2.82 billion. Baxter International had a positive return on equity of 16.93% and a negative net margin of 1.42%. The business's revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.68 EPS. On average, equities research analysts anticipate that Baxter International Inc. will post 2.48 EPS for the current fiscal year.

Baxter International Announces Dividend

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

Baxter International Company 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.