Cincinnati Financial Corp Sells 530,000 Shares of Baxter International Inc. (NYSE:BAX)

Cincinnati Financial Corp decreased its position in shares of Baxter International Inc. (NYSE:BAX - Free Report) by 32.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,087,648 shares of the medical instruments supplier's stock after selling 530,000 shares during the period. Baxter International makes up about 0.9% of Cincinnati Financial Corp's investment portfolio, making the stock its 29th largest position. Cincinnati Financial Corp owned 0.21% of Baxter International worth $42,048,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. SG Americas Securities LLC increased its position in Baxter International by 191.4% during the fourth quarter. SG Americas Securities LLC now owns 69,606 shares of the medical instruments supplier's stock valued at $2,691,000 after acquiring an additional 45,718 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in shares of Baxter International by 76.6% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,439 shares of the medical instruments supplier's stock valued at $56,000 after purchasing an additional 624 shares during the period. Carmignac Gestion boosted its stake in shares of Baxter International by 467.0% during the third quarter. Carmignac Gestion now owns 4,848,773 shares of the medical instruments supplier's stock valued at $182,992,000 after purchasing an additional 3,993,537 shares during the period. California Public Employees Retirement System boosted its stake in shares of Baxter International by 1.0% during the third quarter. California Public Employees Retirement System now owns 3,151,515 shares of the medical instruments supplier's stock valued at $118,938,000 after purchasing an additional 30,477 shares during the period. Finally, BNP Paribas Financial Markets boosted its stake in shares of Baxter International by 110.9% during the fourth quarter. BNP Paribas Financial Markets now owns 797,372 shares of the medical instruments supplier's stock valued at $30,826,000 after purchasing an additional 419,322 shares during the period. Institutional investors own 90.19% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on BAX shares. Citigroup boosted their target price on shares of Baxter International from $41.00 to $44.00 and gave the company a "neutral" rating in a research note on Wednesday, April 3rd. UBS Group lowered their target price on shares of Baxter International from $40.00 to $36.00 and set a "neutral" rating for the company in a research note on Tuesday, February 6th. TD Cowen lowered shares of Baxter International from a "buy" rating to a "hold" rating and set a $40.00 price objective for the company. in a research note on Friday. Bank of America upped their price objective on shares of Baxter International from $42.00 to $45.00 and gave the stock a "neutral" rating in a research note on Tuesday, March 5th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Baxter International from $38.00 to $44.00 and gave the stock a "neutral" rating in a research note on Friday, February 9th. Eight investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Baxter International has an average rating of "Hold" and an average price target of $45.73.

Baxter International Price Performance

Shares of NYSE:BAX traded down $0.20 during midday trading on Tuesday, reaching $35.23. 4,472,933 shares of the company's stock traded hands, compared to its average volume of 3,821,036. The company has a fifty day simple moving average of $40.84 and a two-hundred day simple moving average of $38.98. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.01 and a current ratio of 1.48. The company has a market cap of $17.95 billion, a P/E ratio of 6.78, a PEG ratio of 1.86 and a beta of 0.64. Baxter International Inc. has a 1 year low of $31.01 and a 1 year high of $50.21.

Baxter International (NYSE:BAX - Get Free Report) last released its earnings results on Thursday, May 2nd. The medical instruments supplier reported $0.65 earnings per share for the quarter, topping analysts' consensus estimates of $0.61 by $0.04. Baxter International had a net margin of 17.79% and a return on equity of 18.47%. The business had revenue of $3.59 billion for the quarter, compared to analyst estimates of $3.55 billion. During the same period last year, the company posted $0.59 EPS. The business's revenue was down 1.6% on a year-over-year basis. Equities analysts predict that Baxter International Inc. will post 2.91 EPS for the current fiscal year.

Baxter International Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, May 31st will be paid a $0.29 dividend. The ex-dividend date is Friday, May 31st. This represents a $1.16 annualized dividend and a dividend yield of 3.29%. Baxter International's dividend payout ratio (DPR) is 22.31%.

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.

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