Covington Capital Management trimmed its holdings in Baxter International Inc (NYSE:BAX) by 7.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,336 shares of the medical instruments supplier’s stock after selling 420 shares during the quarter. Covington Capital Management’s holdings in Baxter International were worth $446,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Stifel Financial Corp raised its holdings in shares of Baxter International by 66.9% in the fourth quarter. Stifel Financial Corp now owns 1,082,066 shares of the medical instruments supplier’s stock valued at $91,214,000 after buying an additional 433,693 shares during the last quarter. Evoke Wealth LLC bought a new position in shares of Baxter International in the third quarter valued at about $436,000. Pearl River Capital LLC raised its holdings in shares of Baxter International by 316.2% in the fourth quarter. Pearl River Capital LLC now owns 4,162 shares of the medical instruments supplier’s stock valued at $348,000 after buying an additional 3,162 shares during the last quarter. Metropolitan Life Insurance Co NY raised its holdings in Baxter International by 17.2% during the 3rd quarter. Metropolitan Life Insurance Co NY now owns 87,294 shares of the medical instruments supplier’s stock worth $7,636,000 after purchasing an additional 12,809 shares during the last quarter. Finally, Cerebellum GP LLC raised its holdings in Baxter International by 31.1% during the 4th quarter. Cerebellum GP LLC now owns 6,654 shares of the medical instruments supplier’s stock worth $556,000 after purchasing an additional 1,580 shares during the last quarter. 83.10% of the stock is owned by institutional investors and hedge funds.

BAX has been the subject of several recent research reports. Deutsche Bank dropped their price objective on Baxter International from $109.00 to $99.00 and set a “buy” rating for the company in a report on Wednesday, March 18th. Cfra boosted their price objective on Baxter International from $87.00 to $93.00 and gave the stock a “hold” rating in a report on Thursday, February 6th. Goldman Sachs Group initiated coverage on Baxter International in a report on Wednesday, February 12th. They set a “buy” rating and a $104.00 price objective for the company. UBS Group reissued a “buy” rating and set a $102.00 price objective on shares of Baxter International in a report on Monday, January 13th. Finally, KeyCorp raised Baxter International from a “sector weight” rating to an “overweight” rating and set a $92.00 price objective for the company in a report on Wednesday, March 18th. Six research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $92.16.

Baxter International stock opened at $73.57 on Thursday. The firm has a market capitalization of $37.49 billion, a P/E ratio of 22.23, a PEG ratio of 1.77 and a beta of 1.00. Baxter International Inc has a 1 year low of $69.10 and a 1 year high of $95.00. The business has a 50-day moving average of $85.94 and a 200-day moving average of $85.14. The company has a current ratio of 2.32, a quick ratio of 1.81 and a debt-to-equity ratio of 0.67.

Baxter International (NYSE:BAX) last posted its earnings results on Tuesday, March 17th. The medical instruments supplier reported $0.97 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.09. The company had revenue of $2.85 billion during the quarter, compared to analyst estimates of $2.87 billion. Baxter International had a return on equity of 22.41% and a net margin of 9.12%. The company’s revenue for the quarter was up .4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.80 EPS. Research analysts anticipate that Baxter International Inc will post 3.56 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Friday, February 28th will be given a dividend of $0.22 per share. The ex-dividend date is Thursday, February 27th. This represents a $0.88 annualized dividend and a dividend yield of 1.20%. Baxter International’s payout ratio is currently 26.59%.

About Baxter International

Baxter International Inc, through its subsidiaries, develops and provides a portfolio of healthcare products. The company operates through North and South America; Europe, Middle East and Africa; and Asia-Pacific segments. The company offers peritoneal dialysis and hemodialysis, and additional dialysis therapies and services; renal replacement therapies and other organ support therapies focused in the intensive care unit; sterile intravenous (IV) solutions, IV therapies, infusion pumps, administration sets, and drug reconstitution devices; and parenteral nutrition therapies.

Further Reading: Green Investing

Institutional Ownership by Quarter for Baxter International (NYSE:BAX)

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