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

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Dodge & Cox lifted its holdings in Baxter International by 13.0% during the 4th quarter. Dodge & Cox now owns 50,377,294 shares of the medical instruments supplier's stock valued at $1,469,002,000 after purchasing an additional 5,779,100 shares during the last quarter. Russell Investments Group Ltd. grew its position in Baxter International by 40.4% during the 4th quarter. Russell Investments Group Ltd. now owns 1,745,709 shares of the medical instruments supplier's stock worth $50,904,000 after acquiring an additional 502,370 shares during the last quarter. New York State Common Retirement Fund increased its holdings in Baxter International by 30.9% during the 1st quarter. New York State Common Retirement Fund now owns 623,403 shares of the medical instruments supplier's stock valued at $21,339,000 after purchasing an additional 147,155 shares in the last quarter. GAMMA Investing LLC raised its position in Baxter International by 248.3% in the 1st quarter. GAMMA Investing LLC now owns 11,326 shares of the medical instruments supplier's stock valued at $388,000 after purchasing an additional 8,074 shares during the last quarter. Finally, SG Americas Securities LLC boosted its stake in Baxter International by 352.6% in the first quarter. SG Americas Securities LLC now owns 74,094 shares of the medical instruments supplier's stock worth $2,536,000 after purchasing an additional 57,723 shares in the last quarter. Institutional investors own 90.19% of the company's stock.

Baxter International Stock Up 1.8%

BAX traded up $0.41 during trading on Tuesday, hitting $22.85. The company had a trading volume of 14,213,029 shares, compared to its average volume of 9,000,080. The company has a market capitalization of $11.73 billion, a PE ratio of -76.17, a PEG ratio of 0.72 and a beta of 0.59. The firm's 50-day moving average price is $29.37 and its 200 day moving average price is $30.97. Baxter International Inc. has a one year low of $21.33 and a one year high of $40.49. The company has a quick ratio of 1.40, a current ratio of 2.02 and a debt-to-equity ratio of 1.33.

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

Baxter International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, August 29th will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Friday, August 29th. Baxter International's dividend payout ratio (DPR) is presently -226.67%.

Analysts Set New Price Targets

BAX has been the topic of several research reports. Citigroup reduced their price target on shares of Baxter International from $34.00 to $32.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 9th. Evercore ISI reduced their price objective on Baxter International from $44.00 to $42.00 and set an "outperform" rating on the stock in a report on Tuesday, July 8th. Wells Fargo & Company decreased their price objective on Baxter International from $33.00 to $24.00 and set an "equal weight" rating on the stock in a research report on Friday. Morgan Stanley dropped their target price on Baxter International from $28.00 to $27.00 and set an "underweight" rating for the company in a research report on Tuesday, July 15th. Finally, Wall Street Zen lowered shares of Baxter International from a "buy" rating to a "hold" rating in a report on Saturday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $30.11.

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.