GAMMA Investing LLC Increases Stock Position in Baxter International Inc. (NYSE:BAX)

GAMMA Investing LLC raised its position in Baxter International Inc. (NYSE:BAX - Free Report) by 248.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,326 shares of the medical instruments supplier's stock after purchasing an additional 8,074 shares during the period. GAMMA Investing LLC's holdings in Baxter International were worth $388,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in BAX. CoreFirst Bank & Trust bought a new stake in Baxter International during the fourth quarter valued at approximately $26,000. MassMutual Private Wealth & Trust FSB raised its position 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 buying an additional 656 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Baxter International by 61.2% during the 4th 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. Bruce G. Allen Investments LLC grew its position in Baxter International by 35.2% in the first quarter. Bruce G. Allen Investments LLC now owns 3,546 shares of the medical instruments supplier's stock worth $121,000 after acquiring an additional 924 shares in the last quarter. Finally, Parallel Advisors LLC increased its stake in Baxter International by 58.7% in the first quarter. Parallel Advisors LLC now owns 4,059 shares of the medical instruments supplier's stock valued at $139,000 after acquiring an additional 1,502 shares during the last quarter. 90.19% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on BAX shares. Morgan Stanley reduced their price objective on Baxter International from $30.00 to $28.00 and set an "underweight" rating on the stock in a research report on Monday, May 5th. Wells Fargo & Company cut their target price on Baxter International from $36.00 to $33.00 and set an "equal weight" rating for the company in a research note on Friday, May 2nd. Barclays lifted their price target on shares of Baxter International from $39.00 to $41.00 and gave the stock an "overweight" rating in a research note on Monday, March 10th. Finally, Wall Street Zen raised shares of Baxter International from a "hold" rating to a "buy" rating in a research note on Sunday, June 22nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $36.14.

Baxter International Trading Down 0.2%

Shares of BAX traded down $0.05 during mid-day trading on Thursday, hitting $31.08. 1,430,678 shares of the company's stock traded hands, compared to its average volume of 4,366,389. 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 capitalization of $15.95 billion, a P/E ratio of -28.25, a PEG ratio of 0.92 and a beta of 0.61. The business's 50-day moving average price is $30.64 and its 200-day moving average price is $31.20. Baxter International Inc. has a 1 year low of $26.25 and a 1 year high of $40.49.

Baxter International (NYSE:BAX - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The medical instruments supplier reported $0.62 EPS for the quarter, topping the consensus estimate of $0.48 by $0.14. Baxter International had a negative net margin of 4.71% and a positive return on equity of 17.24%. The business had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.59 billion. During the same period in the prior year, the business earned $0.65 EPS. The company's revenue for the quarter was up 5.4% on a year-over-year basis. As a group, sell-side analysts forecast that Baxter International Inc. will post 2.48 EPS for the current fiscal year.

Baxter International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Friday, May 30th were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.19%. Baxter International's dividend payout ratio (DPR) is -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.