Rowlandmiller & PARTNERS.ADV Cuts Holdings in Baxter International Inc. (NYSE:BAX)

Rowlandmiller & PARTNERS.ADV trimmed its stake in shares of Baxter International Inc. (NYSE:BAX) by 18.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,323 shares of the medical instruments supplier’s stock after selling 744 shares during the quarter. Rowlandmiller & PARTNERS.ADV’s holdings in Baxter International were worth $114,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. CoreFirst Bank & Trust acquired a new stake in shares of Baxter International in the 4th quarter valued at approximately $26,000. Riverview Trust Co lifted its holdings in shares of Baxter International by 5,488.2% in the 4th quarter. Riverview Trust Co now owns 950 shares of the medical instruments supplier’s stock valued at $28,000 after buying an additional 933 shares during the period. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Baxter International by 48.1% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 2,021 shares of the medical instruments supplier’s stock valued at $69,000 after buying an additional 656 shares during the period. Farther Finance Advisors LLC lifted its holdings in shares of Baxter International by 61.2% in the 4th quarter. Farther Finance Advisors LLC now owns 4,060 shares of the medical instruments supplier’s stock valued at $118,000 after buying an additional 1,541 shares during the period. Finally, Bruce G. Allen Investments LLC increased its stake in Baxter International by 35.2% in the 1st quarter. Bruce G. Allen Investments LLC now owns 3,546 shares of the medical instruments supplier’s stock valued at $121,000 after purchasing an additional 924 shares in the last quarter. 90.19% of the stock is owned by institutional investors and hedge funds.

Baxter International Trading Up 2.8%

NYSE BAX opened at $31.71 on Wednesday. Baxter International Inc. has a 1-year low of $26.25 and a 1-year 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. The company has a market capitalization of $16.27 billion, a PE ratio of -24.77, a price-to-earnings-growth ratio of 0.93 and a beta of 0.61. The firm’s fifty day simple moving average is $30.05 and its 200-day simple moving average is $31.39.

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

Baxter International Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, May 30th will be paid a $0.17 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.14%. Baxter International’s payout ratio is presently -61.82%.

Wall Street Analysts Forecast Growth

BAX has been the subject of several research analyst reports. Barclays raised their price objective on Baxter International from $39.00 to $41.00 and gave the company an “overweight” rating in a research note on Monday, March 10th. The Goldman Sachs Group initiated coverage on Baxter International in a report on Wednesday, February 26th. They issued a “buy” rating and a $42.00 price target for the company. Morgan Stanley lowered their price objective on Baxter International from $30.00 to $28.00 and set an “underweight” rating for the company in a research report on Monday, May 5th. Argus raised Baxter International from a “hold” rating to a “buy” rating in a research report on Monday, February 24th. Finally, Wells Fargo & Company lowered their price objective 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 equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $37.25.

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.