GAMMA Investing LLC Purchases New Shares in Baxter International Inc. (NYSE:BAX)

GAMMA Investing LLC acquired a new stake in shares of Baxter International Inc. (NYSE:BAX) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 5,431 shares of the medical instruments supplier’s stock, valued at approximately $210,000.

Other hedge funds have also bought and sold shares of the company. Handelsbanken Fonder AB lifted its stake in Baxter International by 6.0% in the third quarter. Handelsbanken Fonder AB now owns 201,819 shares of the medical instruments supplier’s stock worth $7,617,000 after acquiring an additional 11,456 shares during the period. Valeo Financial Advisors LLC lifted its stake in Baxter International by 33.8% in the third quarter. Valeo Financial Advisors LLC now owns 7,063 shares of the medical instruments supplier’s stock worth $267,000 after acquiring an additional 1,785 shares during the period. Bank of New York Mellon Corp lifted its stake in Baxter International by 69.0% in the third quarter. Bank of New York Mellon Corp now owns 6,491,343 shares of the medical instruments supplier’s stock worth $244,983,000 after acquiring an additional 2,650,959 shares during the period. Lindbrook Capital LLC lifted its stake in Baxter International by 8.2% in the third quarter. Lindbrook Capital LLC now owns 4,214 shares of the medical instruments supplier’s stock worth $159,000 after acquiring an additional 318 shares during the period. Finally, Graypoint LLC lifted its stake in Baxter International by 154.7% in the third quarter. Graypoint LLC now owns 13,573 shares of the medical instruments supplier’s stock worth $512,000 after acquiring an additional 8,245 shares during the period. Institutional investors own 90.19% of the company’s stock.

Baxter International Stock Performance

Shares of Baxter International stock opened at $40.23 on Friday. Baxter International Inc. has a 52 week low of $31.01 and a 52 week high of $50.21. The company has a 50 day moving average price of $41.84 and a 200 day moving average price of $38.52. The company has a quick ratio of 1.04, a current ratio of 1.48 and a debt-to-equity ratio of 1.31. The firm has a market capitalization of $20.43 billion, a P/E ratio of 7.71, a PEG ratio of 2.20 and a beta of 0.62.

Baxter International (NYSE:BAX) last issued its quarterly earnings results on Thursday, February 8th. The medical instruments supplier reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.02. Baxter International had a net margin of 17.77% and a return on equity of 19.49%. The company had revenue of $3.89 billion for the quarter, compared to the consensus estimate of $3.81 billion. During the same quarter in the prior year, the company earned $0.88 EPS. Baxter International’s quarterly revenue was up 3.5% on a year-over-year basis. Sell-side analysts expect that Baxter International Inc. will post 2.89 EPS for the current year.

Baxter International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 1st were issued a $0.29 dividend. The ex-dividend date was Thursday, February 29th. This represents a $1.16 annualized dividend and a yield of 2.88%. Baxter International’s dividend payout ratio (DPR) is presently 22.22%.

Wall Street Analysts Forecast Growth

BAX has been the subject of several analyst reports. JPMorgan Chase & Co. increased their price target on shares of Baxter International from $38.00 to $44.00 and gave the company a “neutral” rating in a research report on Friday, February 9th. Citigroup increased their price target on shares of Baxter International from $41.00 to $44.00 and gave the company a “neutral” rating in a research report on Wednesday, April 3rd. Barclays increased their price target on shares of Baxter International from $52.00 to $54.00 and gave the company an “overweight” rating in a research report on Monday, February 12th. Bank of America increased their price target on shares of Baxter International from $42.00 to $45.00 and gave the company a “neutral” rating in a research report on Tuesday, March 5th. Finally, UBS Group decreased their price target on shares of Baxter International from $40.00 to $36.00 and set a “neutral” rating for the company in a research report on Tuesday, February 6th. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $46.30.

Baxter International 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.