Ferguson Wellman Capital Management Inc. Sells 1,640 Shares of Baxter International Inc. (NYSE:BAX)

Ferguson Wellman Capital Management Inc. decreased its position in shares of Baxter International Inc. (NYSE:BAX) by 21.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,059 shares of the medical instruments supplier’s stock after selling 1,640 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in Baxter International were worth $230,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of BAX. First PREMIER Bank purchased a new stake in Baxter International during the third quarter valued at approximately $25,000. Innealta Capital LLC purchased a new stake in Baxter International during the second quarter valued at approximately $27,000. Fortitude Family Office LLC purchased a new stake in Baxter International during the third quarter valued at approximately $38,000. LRI Investments LLC purchased a new position in shares of Baxter International in the first quarter worth $39,000. Finally, Versant Capital Management Inc raised its holdings in shares of Baxter International by 974.2% in the second quarter. Versant Capital Management Inc now owns 1,332 shares of the medical instruments supplier’s stock worth $45,000 after buying an additional 1,208 shares during the last quarter. Hedge funds and other institutional investors own 90.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on BAX shares. StockNews.com cut shares of Baxter International from a “buy” rating to a “hold” rating in a report on Monday. Wells Fargo & Company decreased their price target on shares of Baxter International from $44.00 to $40.00 and set an “equal weight” rating for the company in a report on Wednesday, August 7th. Stifel Nicolaus decreased their price target on shares of Baxter International from $46.00 to $38.00 and set a “buy” rating for the company in a report on Monday. Citigroup raised their price target on shares of Baxter International from $38.00 to $40.00 and gave the stock a “neutral” rating in a report on Tuesday, October 1st. Finally, JPMorgan Chase & Co. decreased their price target on shares of Baxter International from $44.00 to $42.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Baxter International has a consensus rating of “Hold” and a consensus price target of $40.91.

Baxter International Stock Down 2.8 %

BAX stock opened at $31.71 on Friday. The firm has a market cap of $16.18 billion, a PE ratio of 161.66, a P/E/G ratio of 11.44 and a beta of 0.60. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.91 and a current ratio of 1.40. The firm’s fifty day moving average is $37.13 and its 200 day moving average is $35.94. Baxter International Inc. has a one year low of $31.61 and a one year high of $44.01.

Baxter International (NYSE:BAX) last released its quarterly earnings results on Friday, November 8th. The medical instruments supplier reported $0.80 EPS for the quarter, beating the consensus estimate of $0.78 by $0.02. The company had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.85 billion. Baxter International had a net margin of 0.77% and a return on equity of 18.19%. The firm’s revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the business earned $0.68 earnings per share. On average, research analysts forecast that Baxter International Inc. will post 2.33 EPS for the current year.

Baxter International Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors 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 yield of 2.14%. Baxter International’s dividend payout ratio is presently 580.03%.

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.