Sivik Global Healthcare LLC Invests $5.99 Million in Baxter International Inc. (NYSE:BAX)

Sivik Global Healthcare LLC purchased a new position in Baxter International Inc. (NYSE:BAX - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 175,000 shares of the medical instruments supplier's stock, valued at approximately $5,990,000. Baxter International comprises about 3.2% of Sivik Global Healthcare LLC's holdings, making the stock its 16th biggest position.

A number of other large investors also recently modified their holdings of BAX. Dodge & Cox lifted its position in Baxter International by 13.0% in the 4th quarter. Dodge & Cox now owns 50,377,294 shares of the medical instruments supplier's stock valued at $1,469,002,000 after purchasing an additional 5,779,100 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Baxter International by 22.3% in the 4th quarter. Bank of New York Mellon Corp now owns 15,359,040 shares of the medical instruments supplier's stock valued at $447,870,000 after purchasing an additional 2,803,920 shares during the last quarter. Geode Capital Management LLC lifted its position in Baxter International by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 12,446,939 shares of the medical instruments supplier's stock valued at $362,006,000 after purchasing an additional 290,279 shares during the last quarter. Thompson Siegel & Walmsley LLC lifted its position in Baxter International by 35.1% in the 4th quarter. Thompson Siegel & Walmsley LLC now owns 2,548,215 shares of the medical instruments supplier's stock valued at $74,306,000 after purchasing an additional 662,042 shares during the last quarter. Finally, Sound Shore Management Inc. CT bought a new stake in Baxter International in the 4th quarter valued at about $72,450,000. 90.19% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on BAX. Argus upgraded shares of Baxter International from a "hold" rating to a "buy" rating in a research report on Monday, February 24th. The Goldman Sachs Group began coverage on shares of Baxter International in a research report on Wednesday, February 26th. They issued a "buy" rating and a $42.00 price objective on the stock. Morgan Stanley cut their price objective on shares of 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 dropped 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 research report on Friday, May 2nd. Finally, Wall Street Zen upgraded shares of Baxter International from a "hold" rating to a "buy" rating in a research report on Sunday. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $37.25.

Baxter International Price Performance

Shares of BAX stock traded up $0.23 during midday trading on Friday, reaching $30.03. 5,596,114 shares of the company were exchanged, compared to its average volume of 4,398,107. Baxter International Inc. has a 12 month low of $26.25 and a 12 month high of $40.49. The company has a market cap of $15.41 billion, a P/E ratio of -27.30, a PEG ratio of 0.88 and a beta of 0.61. The company's 50 day moving average price is $30.31 and its two-hundred day moving average price is $31.23. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.40 and a current ratio of 2.02.

Baxter International (NYSE:BAX - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The medical instruments supplier reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. The business's revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.65 EPS. On average, sell-side analysts expect that Baxter International Inc. will post 2.48 earnings per share for the current year.

Baxter International Dividend Announcement

The firm also recently disclosed 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 is Friday, May 30th. This represents a $0.68 annualized dividend and a dividend yield of 2.26%. Baxter International's dividend payout ratio is currently -61.82%.

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.