Colonial Trust Co SC Purchases 2,752 Shares of Baxter International Inc. (NYSE:BAX)

Colonial Trust Co SC increased its position in shares of Baxter International Inc. (NYSE:BAX) by 117.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 5,090 shares of the medical instruments supplier’s stock after purchasing an additional 2,752 shares during the period. Colonial Trust Co SC’s holdings in Baxter International were worth $148,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in BAX. Dodge & Cox raised its position in shares of Baxter International by 13.0% during the fourth quarter. Dodge & Cox now owns 50,377,294 shares of the medical instruments supplier’s stock worth $1,469,002,000 after purchasing an additional 5,779,100 shares during the period. Bank of New York Mellon Corp increased its stake in Baxter International by 22.3% during the 4th quarter. Bank of New York Mellon Corp now owns 15,359,040 shares of the medical instruments supplier’s stock valued at $447,870,000 after purchasing an additional 2,803,920 shares in the last quarter. Sound Shore Management Inc. CT acquired a new position in Baxter International during the fourth quarter worth $72,450,000. Thompson Siegel & Walmsley LLC raised its holdings in Baxter International by 35.1% during the fourth quarter. Thompson Siegel & Walmsley LLC now owns 2,548,215 shares of the medical instruments supplier’s stock worth $74,306,000 after buying an additional 662,042 shares during the last quarter. Finally, ARGA Investment Management LP lifted its stake in shares of Baxter International by 148.8% in the fourth quarter. ARGA Investment Management LP now owns 870,601 shares of the medical instruments supplier’s stock valued at $25,387,000 after buying an additional 520,633 shares in the last quarter. Institutional investors own 90.19% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on BAX. Barclays boosted their target price 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. The Goldman Sachs Group assumed coverage on Baxter International in a report on Wednesday, February 26th. They set a “buy” rating and a $42.00 price objective for the company. Argus raised Baxter International from a “hold” rating to a “buy” rating in a research note 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 on the stock in a research report on Friday, February 21st. Finally, Wells Fargo & Company lowered their price target on Baxter International from $36.00 to $33.00 and set an “equal weight” rating for the company in a research report on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $37.56.

Baxter International Stock Performance

Shares of BAX opened at $31.20 on Friday. The stock has a 50 day moving average of $31.71 and a 200 day moving average of $32.05. The company has a market capitalization of $16.00 billion, a price-to-earnings ratio of -24.37, a PEG ratio of 0.93 and a beta of 0.63. Baxter International Inc. has a 12 month low of $26.25 and a 12 month high of $40.49. The company has a current ratio of 1.43, a quick ratio of 1.09 and a debt-to-equity ratio of 1.31.

Baxter International (NYSE:BAX) last announced its earnings results on Thursday, May 1st. The medical instruments supplier reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.14. The firm had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.59 billion. Baxter International had a positive return on equity of 16.67% and a negative net margin of 5.05%. The business’s revenue was up 5.4% compared to the same quarter last year. During the same period last year, the firm posted $0.65 EPS. As a group, sell-side analysts forecast that Baxter International Inc. will post 2.48 earnings per share for the current year.

Baxter International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, May 30th will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 2.18%. The ex-dividend date of this dividend is Friday, May 30th. Baxter International’s dividend payout ratio is -61.82%.

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.