Baxter International Inc. $BAX Stock: International Assets Investment Management LLC Lowers Position

International Assets Investment Management LLC lowered its holdings in shares of Baxter International Inc. (NYSE:BAX) by 48.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,280 shares of the medical instruments supplier’s stock after selling 37,315 shares during the quarter. International Assets Investment Management LLC’s holdings in Baxter International were worth $952,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BAX. BlackRock Inc. bought a new position in Baxter International in the 2nd quarter worth approximately $1,744,874,000. Pzena Investment Management LLC purchased a new stake in Baxter International during the 2nd quarter valued at approximately $1,392,098,000. Equity Investment Corp bought a new stake in shares of Baxter International during the second quarter valued at approximately $146,815,000. Bank of America Corp DE bought a new stake in shares of Baxter International during the second quarter valued at approximately $132,993,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of Baxter International in the second quarter worth $68,036,000. Institutional investors own 90.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on BAX. Jefferies Financial Group reiterated a “hold” rating and issued a $25.00 target price on shares of Baxter International in a research report on Thursday, October 29th. Zacks Research upgraded Baxter International from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 11th. Stifel Nicolaus lifted their price objective on Baxter International from $19.00 to $24.00 and gave the stock a “hold” rating in a research note on Tuesday, July 28th. Wall Street Zen raised Baxter International from a “hold” rating to a “buy” rating in a report on Saturday, October 31st. Finally, JPMorgan Chase & Co. lowered their target price on Baxter International from $26.00 to $25.00 and set a “neutral” rating for the company in a research report on Friday, October 30th. One equities research analyst has rated the stock with a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus price target of $23.27.

Baxter International Stock Performance

BAX stock opened at $26.40 on Tuesday. The company has a quick ratio of 1.19, a current ratio of 1.79 and a debt-to-equity ratio of 1.20. The business’s fifty day simple moving average is $24.51 and its two-hundred day simple moving average is $21.54. Baxter International Inc. has a twelve month low of $15.73 and a twelve month high of $30.00. The firm has a market cap of $13.66 billion, a price-to-earnings ratio of -18.72, a PEG ratio of 3.90 and a beta of 0.68.

Baxter International (NYSE:BAX) last posted its quarterly earnings results on Thursday, October 29th. The medical instruments supplier reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.06. The firm had revenue of $2.98 billion for the quarter, compared to analysts’ expectations of $2.91 billion. Baxter International had a negative net margin of 6.23% and a positive return on equity of 16.23%. The business’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.69 earnings per share. Analysts predict that Baxter International Inc. will post 2.10 earnings per share for the current year.

Baxter International Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, January 4th. Investors of record on Friday, November 27th will be issued a $0.01 dividend. The ex-dividend date is Friday, November 27th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.2%. Baxter International’s payout ratio is presently -2.84%.

Baxter International Company Profile

Baxter International is a global healthcare company that develops and supplies products used in hospitals, clinics and other care settings. Its offerings include intravenous solutions and administration sets, infusion pumps, medication-delivery systems, and products for surgical and hospital care.

The company also provides patient-monitoring and connected-care technologies, including products associated with Hillrom, which Baxter acquired in 2021. Its products and services support healthcare professionals and patients in countries around the world.

Founded in 1931, Baxter began by producing intravenous solutions.