Cullen Frost Bankers Inc. Boosts Stake in Baxter International Inc. (NYSE:BAX)

Cullen Frost Bankers Inc. grew its stake in shares of Baxter International Inc. (NYSE:BAX - Free Report) by 51.1% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 94,027 shares of the medical instruments supplier's stock after acquiring an additional 31,819 shares during the period. Cullen Frost Bankers Inc.'s holdings in Baxter International were worth $3,219,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Rothschild Investment LLC raised its position in Baxter International by 3.4% in the 1st quarter. Rothschild Investment LLC now owns 14,479 shares of the medical instruments supplier's stock worth $496,000 after purchasing an additional 481 shares during the period. Home Federal Bank of Tennessee boosted its stake in shares of Baxter International by 2.5% during the 1st quarter. Home Federal Bank of Tennessee now owns 22,600 shares of the medical instruments supplier's stock valued at $774,000 after purchasing an additional 550 shares in the last quarter. Private Trust Co. NA boosted its stake in shares of Baxter International by 17.3% during the 1st quarter. Private Trust Co. NA now owns 3,822 shares of the medical instruments supplier's stock valued at $131,000 after purchasing an additional 565 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Baxter International by 48.1% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 2,021 shares of the medical instruments supplier's stock valued at $69,000 after purchasing an additional 656 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. lifted its stake in shares of Baxter International by 5.8% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 13,618 shares of the medical instruments supplier's stock worth $397,000 after buying an additional 752 shares in the last quarter. 90.19% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on BAX. Citigroup cut their target price on shares of Baxter International from $34.00 to $32.00 and set a "neutral" rating for the company in a research note on Wednesday, July 9th. Evercore ISI decreased their target price on shares of Baxter International from $44.00 to $42.00 and set an "outperform" rating for the company in a research note on Tuesday, July 8th. Wall Street Zen raised shares of Baxter International from a "hold" rating to a "buy" rating in a report on Sunday, June 22nd. Wells Fargo & Company decreased their target price on shares of 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. Finally, Morgan Stanley dropped their price target on shares of Baxter International from $28.00 to $27.00 and set an "underweight" rating on the stock in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $36.38.

Baxter International Stock Down 1.7%

Shares of NYSE:BAX opened at $27.89 on Friday. The business has a fifty day simple moving average of $30.37 and a 200 day simple moving average of $31.21. Baxter International Inc. has a 12-month low of $26.25 and a 12-month 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. The firm has a market cap of $14.31 billion, a P/E ratio of -25.35, a P/E/G ratio of 0.83 and a beta of 0.61.

Baxter International (NYSE:BAX - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The medical instruments supplier reported $0.62 EPS for the quarter, topping analysts' consensus estimates of $0.48 by $0.14. The company had revenue of $2.63 billion for 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%. Baxter International's revenue was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.65 EPS. Analysts predict that Baxter International Inc. will post 2.48 earnings per share for the current year.

Baxter International Announces Dividend

The company also recently declared 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 annualized dividend and a dividend yield of 2.44%. The ex-dividend date is Friday, August 29th. Baxter International's dividend payout ratio (DPR) 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.

Want to see what other hedge funds are holding BAX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Baxter International Inc. (NYSE:BAX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.