Baxter International Inc. (NYSE:BAX) Stake Boosted by Toronto Dominion Bank

Toronto Dominion Bank raised its holdings in shares of Baxter International Inc. (NYSE:BAX) by 15.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 170,855 shares of the medical instruments supplier’s stock after purchasing an additional 22,787 shares during the period. Toronto Dominion Bank’s holdings in Baxter International were worth $6,487,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Entropy Technologies LP boosted its holdings in shares of Baxter International by 213.5% in the 3rd quarter. Entropy Technologies LP now owns 23,192 shares of the medical instruments supplier’s stock valued at $881,000 after buying an additional 15,794 shares during the period. Geode Capital Management LLC boosted its stake in Baxter International by 1.4% in the third quarter. Geode Capital Management LLC now owns 12,156,660 shares of the medical instruments supplier’s stock valued at $460,022,000 after acquiring an additional 170,776 shares during the period. Sivik Global Healthcare LLC grew its holdings in shares of Baxter International by 50.0% during the third quarter. Sivik Global Healthcare LLC now owns 150,000 shares of the medical instruments supplier’s stock valued at $5,696,000 after purchasing an additional 50,000 shares during the last quarter. Coho Partners Ltd. bought a new position in shares of Baxter International during the third quarter valued at approximately $57,229,000. Finally, Handelsbanken Fonder AB raised its position in shares of Baxter International by 8.7% during the 3rd quarter. Handelsbanken Fonder AB now owns 217,629 shares of the medical instruments supplier’s stock worth $8,263,000 after purchasing an additional 17,450 shares during the period. 90.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BAX has been the subject of a number of recent research reports. StockNews.com downgraded Baxter International from a “buy” rating to a “hold” rating in a research note on Monday, November 11th. Stifel Nicolaus reduced their target price on shares of Baxter International from $46.00 to $38.00 and set a “buy” rating for the company in a research note on Monday, November 11th. Finally, Citigroup dropped their price target on shares of Baxter International from $37.00 to $35.00 and set a “neutral” rating on the stock in a research note on Wednesday. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Baxter International has a consensus rating of “Hold” and a consensus price target of $40.45.

Baxter International Price Performance

Shares of NYSE:BAX opened at $30.32 on Friday. The stock has a market cap of $15.48 billion, a price-to-earnings ratio of 151.61, a PEG ratio of 12.74 and a beta of 0.57. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.43 and a quick ratio of 1.09. Baxter International Inc. has a 12 month low of $30.06 and a 12 month high of $44.01. The stock’s 50 day moving average price is $34.46 and its 200 day moving average price is $35.40.

Baxter International (NYSE:BAX) last posted its quarterly earnings data on Friday, November 8th. The medical instruments supplier reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.02. Baxter International had a return on equity of 18.30% and a net margin of 0.77%. The company had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $3.85 billion. During the same quarter in the previous year, the business earned $0.68 EPS. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. Equities research analysts anticipate that Baxter International Inc. will post 1.92 earnings per share for the current fiscal year.

Baxter International Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, November 29th will be given a dividend of $0.17 per share. The ex-dividend date is Friday, November 29th. This represents a $0.68 annualized dividend and a dividend yield of 2.24%. Baxter International’s dividend payout ratio (DPR) is 340.02%.

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.