GAMMA Investing LLC Has $13.27 Million Holdings in Baxter International Inc. (NYSE:BAX)

GAMMA Investing LLC grew its stake in shares of Baxter International Inc. (NYSE:BAX - Free Report) by 11,821.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 387,689 shares of the medical instruments supplier's stock after purchasing an additional 384,437 shares during the quarter. GAMMA Investing LLC owned 0.08% of Baxter International worth $13,271,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. MassMutual Private Wealth & Trust FSB increased 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 acquiring an additional 656 shares during the last quarter. Whittier Trust Co. of Nevada Inc. increased its position in shares of Baxter International by 5.8% during 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 acquiring an additional 752 shares during the last quarter. CoreFirst Bank & Trust purchased a new stake in shares of Baxter International during the fourth quarter worth about $26,000. Riverview Trust Co increased its position in shares of Baxter International by 5,488.2% during the fourth quarter. Riverview Trust Co now owns 950 shares of the medical instruments supplier's stock worth $28,000 after acquiring an additional 933 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its position 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 acquiring an additional 1,541 shares during the last quarter. 90.19% of the stock is owned by hedge funds and other institutional investors.

Baxter International Stock Performance

BAX stock traded up $0.12 during mid-day trading on Friday, reaching $30.27. 2,349,654 shares of the stock traded hands, compared to its average volume of 4,432,496. The company has a quick ratio of 1.09, a current ratio of 1.43 and a debt-to-equity ratio of 1.31. Baxter International Inc. has a 52 week low of $26.25 and a 52 week high of $40.49. The business has a 50-day moving average of $30.10 and a two-hundred day moving average of $31.42. The firm has a market capitalization of $15.53 billion, a PE ratio of -23.65, a P/E/G ratio of 0.93 and a beta of 0.61.

Baxter International (NYSE:BAX - Get Free Report) last released its earnings results on Thursday, May 1st. The medical instruments supplier reported $0.62 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $2.63 billion during the quarter, compared to analysts' expectations of $2.59 billion. During the same quarter last year, the company earned $0.65 earnings per share. The firm's revenue was up 5.4% on a year-over-year basis. As a group, equities analysts predict that Baxter International Inc. will post 2.48 EPS for the current fiscal year.

Baxter International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, May 30th will be paid a $0.17 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.68 annualized dividend and a dividend yield of 2.25%. Baxter International's dividend payout ratio (DPR) is currently -61.82%.

Wall Street Analysts Forecast Growth

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