Baxter International Inc. (NYSE:BAX) Stock Holdings Trimmed by SouthState Corp

SouthState Corp trimmed its holdings in shares of Baxter International Inc. (NYSE:BAX) by 16.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,945 shares of the medical instruments supplier’s stock after selling 963 shares during the period. SouthState Corp’s holdings in Baxter International were worth $191,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Headinvest LLC acquired a new position in Baxter International during the third quarter worth about $25,000. Bruce G. Allen Investments LLC acquired a new stake in Baxter International during the fourth quarter valued at approximately $36,000. Turtle Creek Wealth Advisors LLC bought a new stake in Baxter International during the fourth quarter worth approximately $37,000. Hexagon Capital Partners LLC grew its position in Baxter International by 205.4% in the fourth quarter. Hexagon Capital Partners LLC now owns 953 shares of the medical instruments supplier’s stock worth $37,000 after buying an additional 641 shares during the last quarter. Finally, CKW Financial Group bought a new position in shares of Baxter International in the fourth quarter valued at $43,000. Institutional investors and hedge funds own 90.19% of the company’s stock.

Baxter International Stock Down 0.1 %

Baxter International stock traded down $0.02 during mid-day trading on Friday, hitting $36.89. 6,246,789 shares of the company’s stock were exchanged, compared to its average volume of 3,358,723. Baxter International Inc. has a 1-year low of $31.01 and a 1-year high of $50.21. The stock has a 50 day moving average of $41.64 and a two-hundred day moving average of $38.71. The stock has a market cap of $18.73 billion, a P/E ratio of 7.09, a P/E/G ratio of 1.98 and a beta of 0.64. The company has a current ratio of 1.48, a quick ratio of 1.04 and a debt-to-equity ratio of 1.31.

Baxter International (NYSE:BAX) last issued its quarterly earnings data on Thursday, May 2nd. The medical instruments supplier reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.04. The business had revenue of $3.59 billion for the quarter, compared to analyst estimates of $3.55 billion. Baxter International had a return on equity of 18.97% and a net margin of 17.79%. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.59 EPS. As a group, analysts anticipate that Baxter International Inc. will post 2.9 EPS for the current fiscal year.

Baxter International Dividend Announcement

The company also recently announced 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 of this dividend was Thursday, February 29th. This represents a $1.16 annualized dividend and a yield of 3.14%. Baxter International’s dividend payout ratio (DPR) is presently 22.31%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Bank of America upped their target price on Baxter International from $42.00 to $45.00 and gave the company a “neutral” rating in a report on Tuesday, March 5th. Barclays upped 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. Citigroup increased their target price on Baxter International from $41.00 to $44.00 and gave the company a “neutral” rating in a report on Wednesday, April 3rd. UBS Group reduced their price objective on Baxter International from $40.00 to $36.00 and set a “neutral” rating for the company in a research note on Tuesday, February 6th. Finally, JPMorgan Chase & Co. upped their target price on Baxter International from $38.00 to $44.00 and gave the company a “neutral” rating in a report on Friday, February 9th. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price 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.