Ellevest Inc. Cuts Stock Position in Baxter International Inc. (NYSE:BAX)

Posted by Defense World Staff on Apr 28th, 2023

Ellevest Inc. trimmed its position in Baxter International Inc. (NYSE:BAX – Get Rating) by 40.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,132 shares of the medical instruments supplier’s stock after selling 776 shares during the period. Ellevest Inc.’s holdings in Baxter International were worth $58,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. CX Institutional boosted its stake in shares of Baxter International by 24.1% in the fourth quarter. CX Institutional now owns 10,972 shares of the medical instruments supplier’s stock valued at $559,000 after buying an additional 2,134 shares in the last quarter. Raymond James Trust N.A. grew its stake in shares of Baxter International by 21.6% during the 4th quarter. Raymond James Trust N.A. now owns 45,399 shares of the medical instruments supplier’s stock worth $2,314,000 after purchasing an additional 8,055 shares during the period. Nisa Investment Advisors LLC increased its holdings in shares of Baxter International by 3.1% in the 4th quarter. Nisa Investment Advisors LLC now owns 139,683 shares of the medical instruments supplier’s stock valued at $7,120,000 after purchasing an additional 4,231 shares in the last quarter. Forsta AP Fonden boosted its holdings in Baxter International by 9.4% during the fourth quarter. Forsta AP Fonden now owns 128,100 shares of the medical instruments supplier’s stock worth $6,529,000 after buying an additional 11,000 shares in the last quarter. Finally, River Road Asset Management LLC acquired a new position in Baxter International during the fourth quarter worth about $35,342,000. 84.84% of the stock is owned by institutional investors and hedge funds.

Baxter International Stock Performance

Shares of NYSE:BAX opened at $46.80 on Friday. Baxter International Inc. has a 12 month low of $37.35 and a 12 month high of $77.08. The business has a 50-day moving average of $40.84 and a two-hundred day moving average of $47.20. The company has a debt-to-equity ratio of 2.58, a current ratio of 1.69 and a quick ratio of 1.12. The firm has a market capitalization of $23.66 billion, a PE ratio of -9.69, a P/E/G ratio of 2.85 and a beta of 0.55.

Baxter International (NYSE:BAX – Get Rating) last released its quarterly earnings data on Thursday, February 9th. The medical instruments supplier reported $0.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.94 by ($0.06). The business had revenue of $3.89 billion during the quarter, compared to analyst estimates of $3.77 billion. Baxter International had a positive return on equity of 24.03% and a negative net margin of 16.10%. Baxter International’s revenue was up 10.6% on a year-over-year basis. During the same period in the previous year, the company earned $1.04 EPS. As a group, research analysts forecast that Baxter International Inc. will post 2.84 earnings per share for the current year.

Baxter International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 3rd. Shareholders of record on Friday, February 24th were paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date of this dividend was Thursday, February 23rd. Baxter International’s dividend payout ratio is presently -24.02%.

Insider Transactions at Baxter International

In related news, SVP Jacqueline Kunzler sold 3,813 shares of the firm’s stock in a transaction dated Tuesday, February 21st. The stock was sold at an average price of $40.50, for a total transaction of $154,426.50. Following the sale, the senior vice president now directly owns 16,725 shares in the company, valued at approximately $677,362.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, SVP Jacqueline Kunzler sold 3,813 shares of Baxter International stock in a transaction on Tuesday, February 21st. The shares were sold at an average price of $40.50, for a total transaction of $154,426.50. Following the sale, the senior vice president now owns 16,725 shares of the company’s stock, valued at approximately $677,362.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Albert P. L. Stroucken sold 3,930 shares of the company’s stock in a transaction dated Monday, March 20th. The shares were sold at an average price of $37.52, for a total transaction of $147,453.60. Following the completion of the transaction, the director now directly owns 36,835 shares of the company’s stock, valued at $1,382,049.20. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on BAX. Cowen lowered their price target on Baxter International from $70.00 to $45.00 and set an “outperform” rating on the stock in a report on Friday, February 10th. Barclays decreased their price objective on shares of Baxter International from $63.00 to $54.00 and set an “overweight” rating on the stock in a research report on Monday, February 13th. KeyCorp dropped their target price on shares of Baxter International from $73.00 to $60.00 and set an “overweight” rating for the company in a report on Monday, February 6th. Morgan Stanley lowered their price target on shares of Baxter International from $55.00 to $44.00 and set an “equal weight” rating on the stock in a research report on Friday, February 10th. Finally, Bank of America cut shares of Baxter International from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $66.00 to $55.00 in a research note on Tuesday, January 3rd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $53.94.

About Baxter International

(Get Rating)

Baxter International, Inc engages in the provision of a portfolio of essential healthcare products including acute and chronic dialysis therapies, sterile intravenous (IV) solutions, infusion systems and devices, parenteral nutrition therapies, inhaled anesthetics, generic injectable pharmaceuticals, surgical hemostat and sealant products, surgical equipment, smart bed systems, patient monitoring and diagnostic technologies, and respiratory health devices.