Tobam Has $26,000 Stake in Baxter International Inc. (NYSE:BAX)

Tobam reduced its stake in Baxter International Inc. (NYSE:BAX - Free Report) by 94.0% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund 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.

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

Baxter International Price Performance

Shares of NYSE:BAX traded down $0.90 during midday trading on Tuesday, reaching $29.92. 3,364,929 shares of the company's stock were exchanged, compared to its average volume of 4,404,611. The firm has a market capitalization of $15.35 billion, a PE ratio of -27.20, a price-to-earnings-growth ratio of 0.91 and a beta of 0.61. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.40 and a current ratio of 2.02. Baxter International Inc. has a 12 month low of $26.25 and a 12 month high of $40.49. The company's 50 day simple moving average is $30.25 and its two-hundred day simple moving average is $31.30.

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

Baxter International Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, May 30th will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date of this dividend is Friday, May 30th. Baxter International's dividend payout ratio is currently -61.82%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on BAX shares. Wells Fargo & Company cut their price objective on Baxter International from $36.00 to $33.00 and set an "equal weight" rating for the company in a research report on Friday, May 2nd. Barclays upped their target price on shares of Baxter International from $39.00 to $41.00 and gave the company an "overweight" rating in a research note on Monday, March 10th. JPMorgan Chase & Co. decreased their price target on shares of Baxter International from $38.00 to $36.00 and set a "neutral" rating on the stock in a research report on Friday, February 21st. Argus raised shares of Baxter International from a "hold" rating to a "buy" rating in a research report on Monday, February 24th. Finally, The Goldman Sachs Group assumed coverage on shares of Baxter International in a research note on Wednesday, February 26th. They issued a "buy" rating and a $42.00 target price for the company. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $37.25.

About Baxter International

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.