Forsta AP Fonden Sells 188,100 Shares of Baxter International Inc. (NYSE:BAX)

Key Points

• Forsta AP Fonden has significantly reduced its stake in Baxter International Inc. by 68.7%, now holding 85,800 shares after selling 188,100 during the first quarter.
• Baxter International recently reported a missed earnings estimate of $0.59 EPS, falling short of the expected $0.60, despite a year-over-year revenue increase of 4.3%.
• Analysts have recently set new price targets for Baxter International, with Stifel Nicolaus lowering their target from $36.00 to $25.00, and Barclays decreasing theirs from $41.00 to $36.00.

Forsta AP Fonden lessened its holdings in Baxter International Inc. (NYSE:BAX - Free Report) by 68.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 85,800 shares of the medical instruments supplier's stock after selling 188,100 shares during the period. Forsta AP Fonden's holdings in Baxter International were worth $2,937,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Sterling Capital Management LLC increased its position in Baxter International by 55.2% during the 4th quarter. Sterling Capital Management LLC now owns 30,264 shares of the medical instruments supplier's stock worth $882,000 after buying an additional 10,768 shares during the period. Anchor Investment Management LLC grew its holdings in shares of Baxter International by 79.2% during the 4th quarter. Anchor Investment Management LLC now owns 20,463 shares of the medical instruments supplier's stock worth $597,000 after purchasing an additional 9,043 shares in the last quarter. Jump Financial LLC grew its holdings in shares of Baxter International by 1,078.2% during the 4th quarter. Jump Financial LLC now owns 139,028 shares of the medical instruments supplier's stock worth $4,054,000 after purchasing an additional 127,228 shares in the last quarter. Dodge & Cox grew its holdings in shares of Baxter International by 13.0% during the 4th quarter. Dodge & Cox now owns 50,377,294 shares of the medical instruments supplier's stock worth $1,469,002,000 after purchasing an additional 5,779,100 shares in the last quarter. Finally, Gabelli Funds LLC grew its holdings in shares of Baxter International by 6.9% during the 4th quarter. Gabelli Funds LLC now owns 329,200 shares of the medical instruments supplier's stock worth $9,599,000 after purchasing an additional 21,200 shares in the last quarter. Institutional investors own 90.19% of the company's stock.

Baxter International Trading Down 1.0%

Baxter International stock traded down $0.25 during trading hours on Friday, hitting $24.20. The stock had a trading volume of 7,713,388 shares, compared to its average volume of 10,305,017. The company has a quick ratio of 1.49, a current ratio of 2.30 and a debt-to-equity ratio of 1.30. The stock has a market cap of $12.43 billion, a price-to-earnings ratio of -80.67, a P/E/G ratio of 0.80 and a beta of 0.59. Baxter International Inc. has a one year low of $21.33 and a one year high of $40.49. The business's 50 day simple moving average is $28.17 and its 200-day simple moving average is $30.46.

Baxter International (NYSE:BAX - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The medical instruments supplier reported $0.59 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.60 by ($0.01). Baxter International had a positive return on equity of 16.96% and a negative net margin of 1.42%. The company had revenue of $2.81 billion for the quarter, compared to the consensus estimate of $2.82 billion. During the same quarter last year, the business earned $0.68 earnings per share. Baxter International's revenue was up 4.3% compared to the same quarter last year. On average, equities analysts predict that Baxter International Inc. will post 2.48 EPS for the current fiscal year.

Baxter International Dividend Announcement

The business 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 dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Friday, August 29th. Baxter International's dividend payout ratio (DPR) is -226.67%.

Analysts Set New Price Targets

Several analysts recently weighed in on BAX shares. 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 research note on Tuesday, July 8th. Stifel Nicolaus reaffirmed a "hold" rating and issued a $25.00 price objective (down from $36.00) on shares of Baxter International in a research note on Monday, August 4th. The Goldman Sachs Group lowered Baxter International from a "buy" rating to a "neutral" rating and set a $25.00 price objective on the stock. in a research note on Friday, August 1st. Wells Fargo & Company reduced their price objective on Baxter International from $33.00 to $24.00 and set an "equal weight" rating on the stock in a research note on Friday, August 1st. Finally, Wall Street Zen downgraded Baxter International from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. One analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $30.11.

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.