Covington Capital Management Sells 420 Shares of Baxter International Inc (NYSE:BAX)

Covington Capital Management lowered its stake in shares of Baxter International Inc (NYSE:BAX) by 7.3% during the fourth quarter, HoldingsChannel reports. The firm 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 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the company. Horrell Capital Management Inc. raised its stake in Baxter International by 0.4% in the 4th quarter. Horrell Capital Management Inc. now owns 30,990 shares of the medical instruments supplier’s stock valued at $2,591,000 after acquiring an additional 114 shares during the period. Huber Financial Advisors LLC raised its stake in Baxter International by 3.7% in the 4th quarter. Huber Financial Advisors LLC now owns 3,179 shares of the medical instruments supplier’s stock valued at $266,000 after acquiring an additional 114 shares during the period. Hall Capital Management Co. Inc. raised its stake in Baxter International by 1.4% in the 4th quarter. Hall Capital Management Co. Inc. now owns 8,490 shares of the medical instruments supplier’s stock valued at $710,000 after acquiring an additional 115 shares during the period. Brookstone Capital Management raised its stake in Baxter International by 3.9% in the 4th quarter. Brookstone Capital Management now owns 3,326 shares of the medical instruments supplier’s stock valued at $278,000 after acquiring an additional 125 shares during the period. Finally, Birmingham Capital Management Co. Inc. AL raised its stake in Baxter International by 0.8% in the 4th quarter. Birmingham Capital Management Co. Inc. AL now owns 18,312 shares of the medical instruments supplier’s stock valued at $1,531,000 after acquiring an additional 150 shares during the period. Institutional investors own 83.10% of the company’s stock.

BAX has been the topic of a number of research analyst reports. Goldman Sachs Group initiated coverage on Baxter International in a research note on Wednesday, February 12th. They issued a “buy” rating and a $104.00 price target on the stock. JPMorgan Chase & Co. increased their price target on Baxter International from $89.00 to $94.00 and gave the company an “overweight” rating in a research note on Friday, December 20th. Citigroup dropped their price target on Baxter International from $94.00 to $89.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 18th. Raymond James dropped their price target on Baxter International from $95.00 to $90.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 18th. Finally, Cfra upped their price objective on Baxter International from $87.00 to $93.00 and gave the company a “hold” rating in a report on Thursday, February 6th. Six investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $92.16.

BAX opened at $73.57 on Thursday. The firm has a market cap of $37.49 billion, a P/E ratio of 22.23, a price-to-earnings-growth ratio of 1.77 and a beta of 1.00. Baxter International Inc has a 52-week low of $69.10 and a 52-week high of $95.00. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.81 and a current ratio of 2.32. The business’s fifty day moving average is $85.94 and its 200-day moving average is $85.14.

Baxter International (NYSE:BAX) last released its earnings results on Tuesday, March 17th. The medical instruments supplier reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.09. The company had revenue of $2.85 billion for 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%. Baxter International’s quarterly revenue was up .4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.80 EPS. On average, research analysts predict that Baxter International Inc will post 3.56 earnings per share 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 issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.20%. The ex-dividend date is Thursday, February 27th. Baxter International’s dividend payout ratio (DPR) is currently 26.59%.

Baxter International Profile

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.

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

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