Baxter International Inc. (NYSE:BAX) Shares Bought by Gabelli Funds LLC

Gabelli Funds LLC increased its holdings in shares of Baxter International Inc. (NYSE:BAX - Free Report) by 6.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 329,200 shares of the medical instruments supplier's stock after acquiring an additional 21,200 shares during the quarter. Gabelli Funds LLC owned about 0.06% of Baxter International worth $9,599,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of BAX. Sumitomo Mitsui Trust Group Inc. grew its position in shares of Baxter International by 1.9% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,160,666 shares of the medical instruments supplier's stock valued at $33,845,000 after purchasing an additional 21,592 shares in the last quarter. Nicholas Hoffman & Company LLC. purchased a new stake in Baxter International in the 4th quarter valued at $907,000. Bank of New York Mellon Corp increased its stake in shares of 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 worth $447,870,000 after acquiring an additional 2,803,920 shares during the last quarter. Dodge & Cox raised its holdings in shares of Baxter International by 13.0% during the 4th quarter. Dodge & Cox now owns 50,377,294 shares of the medical instruments supplier's stock worth $1,469,002,000 after acquiring an additional 5,779,100 shares during the period. Finally, Rhumbline Advisers boosted its position in shares of Baxter International by 1.2% during the 4th quarter. Rhumbline Advisers now owns 1,113,125 shares of the medical instruments supplier's stock valued at $32,459,000 after acquiring an additional 13,424 shares during the last quarter. Hedge funds and other institutional investors own 90.19% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Barclays raised their price objective on shares of Baxter International from $39.00 to $41.00 and gave the stock an "overweight" rating in a research report on Monday, March 10th. Argus upgraded Baxter International from a "hold" rating to a "buy" rating in a report on Monday, February 24th. JPMorgan Chase & Co. cut their target price on Baxter International from $38.00 to $36.00 and set a "neutral" rating for the company in a research note on Friday, February 21st. Finally, The Goldman Sachs Group started coverage on Baxter International in a research note on Wednesday, February 26th. They issued a "buy" rating and a $42.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Baxter International has a consensus rating of "Hold" and a consensus price target of $38.56.

Baxter International Stock Up 1.8 %

Shares of NYSE BAX traded up $0.50 during mid-day trading on Tuesday, hitting $29.04. The company had a trading volume of 521,116 shares, compared to its average volume of 4,922,016. Baxter International Inc. has a 1-year low of $26.25 and a 1-year high of $41.18. The company has a market capitalization of $14.90 billion, a PE ratio of -22.68, a price-to-earnings-growth ratio of 0.93 and a beta of 0.64. 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 business's 50-day simple moving average is $32.45 and its 200 day simple moving average is $32.56.

Baxter International (NYSE:BAX - Get Free Report) last released its earnings results on Thursday, February 20th. The medical instruments supplier reported $0.58 earnings per share for the quarter, topping analysts' consensus estimates of $0.52 by $0.06. Baxter International had a negative net margin of 5.05% and a positive return on equity of 16.67%. The firm had revenue of $2.75 billion for the quarter, compared to analyst estimates of $2.67 billion. On average, analysts predict that Baxter International Inc. will post 2.48 earnings per share for the current year.

Baxter International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, February 28th were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date was Friday, February 28th. Baxter International's dividend payout ratio is presently -53.13%.

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.