Rhumbline Advisers Has $41.52 Million Position in Baxter International Inc. (NYSE:BAX)

Rhumbline Advisers increased its position in shares of Baxter International Inc. (NYSE:BAX - Free Report) by 9.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,212,971 shares of the medical instruments supplier's stock after purchasing an additional 99,846 shares during the period. Rhumbline Advisers owned 0.24% of Baxter International worth $41,520,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Rothschild Investment LLC raised its stake in Baxter International by 3.4% during the 1st quarter. Rothschild Investment LLC now owns 14,479 shares of the medical instruments supplier's stock valued at $496,000 after purchasing an additional 481 shares during the period. MassMutual Private Wealth & Trust FSB grew its holdings 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 valued at $69,000 after buying an additional 656 shares in the last quarter. Whittier Trust Co. of Nevada Inc. raised its position in 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 valued at $397,000 after buying an additional 752 shares during the period. CoreFirst Bank & Trust purchased a new stake in Baxter International in the 4th quarter worth about $26,000. Finally, Riverview Trust Co lifted its stake in Baxter International by 5,488.2% in the 4th quarter. Riverview Trust Co now owns 950 shares of the medical instruments supplier's stock worth $28,000 after acquiring an additional 933 shares in the last quarter. Institutional investors own 90.19% of the company's stock.

Analyst Upgrades and Downgrades

BAX has been the topic of several research analyst reports. Barclays boosted their price target on shares of Baxter International from $39.00 to $41.00 and gave the company an "overweight" rating in a report on Monday, March 10th. JPMorgan Chase & Co. lowered their price target on shares of Baxter International from $38.00 to $36.00 and set a "neutral" rating on the stock in a report on Friday, February 21st. Wells Fargo & Company lowered their price target on shares of Baxter International from $36.00 to $33.00 and set an "equal weight" rating on the stock in a report on Friday, May 2nd. Morgan Stanley lowered their price target on shares of Baxter International from $30.00 to $28.00 and set an "underweight" rating on the stock in a report on Monday, May 5th. Finally, The Goldman Sachs Group initiated coverage on shares of Baxter International in a report on Wednesday, February 26th. They set a "buy" rating and a $42.00 price target on the stock. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Baxter International presently has an average rating of "Hold" and an average price target of $37.25.

Baxter International Trading Up 0.6%

BAX traded up $0.17 during mid-day trading on Thursday, hitting $30.14. The stock had a trading volume of 3,903,876 shares, compared to its average volume of 4,455,698. Baxter International Inc. has a 1-year low of $26.25 and a 1-year high of $40.49. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.43 and a quick ratio of 1.09. The stock's fifty day simple moving average is $30.26 and its 200-day simple moving average is $31.46. The firm has a market capitalization of $15.46 billion, a price-to-earnings ratio of -23.54, a price-to-earnings-growth ratio of 0.93 and a beta of 0.63.

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 analysts' consensus estimates of $0.48 by $0.14. The business had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.59 billion. Baxter International had a negative net margin of 5.05% and a positive return on equity of 16.67%. The firm's quarterly revenue was up 5.4% on a year-over-year basis. During the same period last year, the business posted $0.65 earnings per share. As a group, research analysts forecast that Baxter International Inc. will post 2.48 EPS for the current fiscal year.

Baxter International Dividend Announcement

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 issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date is Friday, May 30th. Baxter International's dividend payout ratio 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.