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

Sivik Global Healthcare LLC bought a new stake in Baxter International Inc. (NYSE:BAX - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm bought 175,000 shares of the medical instruments supplier's stock, valued at approximately $5,990,000. Baxter International accounts for about 3.2% of Sivik Global Healthcare LLC's holdings, making the stock its 16th biggest holding.

Other institutional investors have also added to or reduced their stakes in the company. Van ECK Associates Corp boosted its position in Baxter International by 10.2% in the fourth quarter. Van ECK Associates Corp now owns 68,198 shares of the medical instruments supplier's stock valued at $1,989,000 after buying an additional 6,320 shares in the last quarter. New York State Common Retirement Fund increased its holdings in Baxter International by 7.9% in the 4th quarter. New York State Common Retirement Fund now owns 476,248 shares of the medical instruments supplier's stock worth $13,887,000 after purchasing an additional 34,748 shares in the last quarter. Handelsbanken Fonder AB raised its position in Baxter International by 33.8% in the fourth quarter. Handelsbanken Fonder AB now owns 291,102 shares of the medical instruments supplier's stock valued at $8,489,000 after purchasing an additional 73,473 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Baxter International by 22.3% during the fourth quarter. Bank of New York Mellon Corp now owns 15,359,040 shares of the medical instruments supplier's stock worth $447,870,000 after purchasing an additional 2,803,920 shares during the last quarter. Finally, Pointe Capital Management LLC increased its position in Baxter International by 57.8% in the 4th quarter. Pointe Capital Management LLC now owns 10,978 shares of the medical instruments supplier's stock valued at $320,000 after acquiring an additional 4,019 shares during the period. 90.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on BAX. The Goldman Sachs Group assumed coverage on Baxter International in a research report on Wednesday, February 26th. They set a "buy" rating and a $42.00 price objective for the company. Wells Fargo & Company lowered their target price on shares of 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. Wall Street Zen upgraded Baxter International from a "hold" rating to a "buy" rating in a report on Sunday. Morgan Stanley cut their price target on Baxter International from $30.00 to $28.00 and set an "underweight" rating on the stock in a report on Monday, May 5th. Finally, Barclays increased their target price 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. One investment 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. According to MarketBeat.com, Baxter International presently has a consensus rating of "Moderate Buy" and a consensus target price of $37.25.

Baxter International Stock Up 2.1%

BAX traded up $0.63 during mid-day trading on Tuesday, reaching $30.62. 3,914,675 shares of the stock were exchanged, compared to its average volume of 4,393,140. The company has a 50 day moving average price of $30.34 and a two-hundred day moving average price of $31.22. The stock has a market capitalization of $15.71 billion, a PE ratio of -27.83, a price-to-earnings-growth ratio of 0.88 and a beta of 0.61. 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 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 announced its quarterly earnings data 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 positive return on equity of 17.24% and a negative net margin of 4.71%. 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 company earned $0.65 earnings per share. Baxter International's revenue was up 5.4% compared to the same quarter last year. As a group, research analysts anticipate that Baxter International Inc. will post 2.48 EPS for the current year.

Baxter International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, May 30th will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.68 annualized dividend and a yield of 2.22%. 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.