Cooke & Bieler LP Decreases Stock Position in Baxter International Inc. (NYSE:BAX)

Cooke & Bieler LP trimmed its stake in Baxter International Inc. (NYSE:BAX - Free Report) by 2.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,579,950 shares of the medical instruments supplier's stock after selling 31,480 shares during the period. Cooke & Bieler LP owned about 0.31% of Baxter International worth $54,082,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in BAX. CoreFirst Bank & Trust bought a new stake in shares of Baxter International during the fourth quarter worth $26,000. Rossby Financial LCC acquired a new stake in shares of Baxter International during the first quarter worth about $29,000. MassMutual Private Wealth & Trust FSB raised its position in shares of Baxter International by 48.1% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 2,021 shares of the medical instruments supplier's stock worth $69,000 after purchasing an additional 656 shares during the period. Farther Finance Advisors LLC grew its holdings in shares of Baxter International by 61.2% during the fourth quarter. Farther Finance Advisors LLC now owns 4,060 shares of the medical instruments supplier's stock worth $118,000 after buying an additional 1,541 shares in the last quarter. Finally, Bruce G. Allen Investments LLC grew its stake in Baxter International by 35.2% in the first quarter. Bruce G. Allen Investments LLC now owns 3,546 shares of the medical instruments supplier's stock valued at $121,000 after purchasing an additional 924 shares in the last quarter. Institutional investors own 90.19% of the company's stock.

Baxter International Stock Down 0.4%

BAX stock traded down $0.11 during trading on Friday, reaching $27.78. 3,770,957 shares of the stock were exchanged, compared to its average volume of 4,350,617. The firm has a market cap of $14.26 billion, a P/E ratio of -25.25, a price-to-earnings-growth ratio of 0.83 and a beta of 0.61. Baxter International Inc. has a twelve month low of $26.25 and a twelve month high of $40.49. The firm's 50 day moving average is $30.37 and its 200 day moving average is $31.21. The company has a current ratio of 2.02, a quick ratio of 1.40 and a debt-to-equity ratio of 1.33.

Baxter International (NYSE:BAX - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The medical instruments supplier reported $0.62 EPS for the quarter, topping the consensus estimate of $0.48 by $0.14. The firm had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.59 billion. Baxter International had a positive return on equity of 17.24% and a negative net margin of 4.71%. The company's quarterly revenue was up 5.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.65 earnings per share. As a group, research analysts forecast that Baxter International Inc. will post 2.48 EPS for the current year.

Baxter International Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, August 29th will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 2.45%. The ex-dividend date of this dividend is Friday, August 29th. Baxter International's dividend payout ratio (DPR) is -61.82%.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Citigroup reduced their target price on Baxter International from $34.00 to $32.00 and set a "neutral" rating for the company in a research note on Wednesday, July 9th. Wall Street Zen upgraded Baxter International from a "hold" rating to a "buy" rating in a research note on Sunday, June 22nd. Wells Fargo & Company reduced their target price on Baxter International from $36.00 to $33.00 and set an "equal weight" rating for the company in a research note on Friday, May 2nd. Evercore ISI dropped their price target on Baxter International from $44.00 to $42.00 and set an "outperform" rating for the company in a report on Tuesday, July 8th. Finally, Morgan Stanley dropped their price target on Baxter International from $28.00 to $27.00 and set an "underweight" rating for the company in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, Baxter International presently has an average rating of "Moderate Buy" and a consensus price target of $36.38.

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.