Tobam Sells 12,063 Shares of Baxter International Inc. (NYSE:BAX)

Tobam lessened its holdings in shares of Baxter International Inc. (NYSE:BAX - Free Report) by 94.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 770 shares of the medical instruments supplier's stock after selling 12,063 shares during the quarter. Tobam's holdings in Baxter International were worth $26,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Van ECK Associates Corp lifted its holdings in Baxter International by 10.2% in the 4th quarter. Van ECK Associates Corp now owns 68,198 shares of the medical instruments supplier's stock worth $1,989,000 after purchasing an additional 6,320 shares during the last quarter. Rhumbline Advisers lifted its stake in shares of Baxter International by 1.2% in the fourth quarter. Rhumbline Advisers now owns 1,113,125 shares of the medical instruments supplier's stock worth $32,459,000 after buying an additional 13,424 shares during the last quarter. Nicholas Hoffman & Company LLC. bought a new stake in shares of Baxter International during the 4th quarter worth $907,000. New York State Common Retirement Fund grew its stake in Baxter International by 7.9% in the 4th quarter. New York State Common Retirement Fund now owns 476,248 shares of the medical instruments supplier's stock valued at $13,887,000 after buying an additional 34,748 shares during the last quarter. Finally, Handelsbanken Fonder AB raised its holdings in Baxter International by 33.8% in the 4th quarter. Handelsbanken Fonder AB now owns 291,102 shares of the medical instruments supplier's stock worth $8,489,000 after acquiring an additional 73,473 shares during the period. 90.19% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BAX has been the topic of several research analyst reports. Argus raised Baxter International from a "hold" rating to a "buy" rating in a research report on Monday, February 24th. Wells Fargo & Company dropped their price target on Baxter International from $36.00 to $33.00 and set an "equal weight" rating on the stock in a research report on Friday, May 2nd. The Goldman Sachs Group started coverage on Baxter International in a research report on Wednesday, February 26th. They issued a "buy" rating and a $42.00 price objective for the company. JPMorgan Chase & Co. lowered their price objective on shares of Baxter International from $38.00 to $36.00 and set a "neutral" rating on the stock in a research note on Friday, February 21st. Finally, Morgan Stanley cut their target price on shares of Baxter International from $30.00 to $28.00 and set an "underweight" rating for the company in a research note on Monday, May 5th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Baxter International presently has an average rating of "Hold" and an average price target of $37.25.

Baxter International Price Performance

Shares of NYSE:BAX traded down $0.76 on Friday, hitting $30.60. The stock had a trading volume of 2,890,177 shares, compared to its average volume of 4,410,600. The firm's 50 day moving average price is $30.21 and its 200-day moving average price is $31.36. 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 twelve month low of $26.25 and a twelve month high of $40.49. The company has a market capitalization of $15.70 billion, a price-to-earnings ratio of -23.91, a price-to-earnings-growth ratio of 0.93 and a beta of 0.61.

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

Baxter International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, May 30th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date of this dividend is Friday, May 30th. Baxter International's dividend payout ratio is currently -61.82%.

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.