Gabelli Funds LLC Grows Stake in Baxter International Inc. (NYSE:BAX)

Gabelli Funds LLC boosted its stake in Baxter International Inc. (NYSE:BAX) by 6.9% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 329,200 shares of the medical instruments supplier’s stock after buying an additional 21,200 shares during the quarter. Gabelli Funds LLC’s holdings in Baxter International were worth $9,599,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Dodge & Cox raised its stake in Baxter International by 13.0% in the 4th quarter. Dodge & Cox now owns 50,377,294 shares of the medical instruments supplier’s stock valued at $1,469,002,000 after purchasing an additional 5,779,100 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Baxter International by 22.3% during the 4th quarter. Bank of New York Mellon Corp now owns 15,359,040 shares of the medical instruments supplier’s stock worth $447,870,000 after purchasing an additional 2,803,920 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Baxter International by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 12,446,939 shares of the medical instruments supplier’s stock worth $362,006,000 after buying an additional 290,279 shares in the last quarter. Thompson Siegel & Walmsley LLC lifted its stake in shares of Baxter International by 35.1% in the fourth quarter. Thompson Siegel & Walmsley LLC now owns 2,548,215 shares of the medical instruments supplier’s stock worth $74,306,000 after buying an additional 662,042 shares in the last quarter. Finally, Sound Shore Management Inc. CT acquired a new position in Baxter International during the fourth quarter worth about $72,450,000. 90.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Barclays upped their price target on Baxter International from $39.00 to $41.00 and gave the company an “overweight” rating in a research report on Monday, March 10th. Argus raised Baxter International from a “hold” rating to a “buy” rating in a research note on Monday, February 24th. The Goldman Sachs Group initiated coverage on Baxter International in a report on Wednesday, February 26th. They set a “buy” rating and a $42.00 price target on the stock. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Baxter International from $38.00 to $36.00 and set a “neutral” rating for the company in a report on Friday, February 21st. One analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $38.56.

Baxter International Stock Up 0.2 %

BAX stock opened at $27.86 on Thursday. The stock has a market capitalization of $14.29 billion, a PE ratio of -21.77, a price-to-earnings-growth ratio of 0.93 and a beta of 0.64. The company has a fifty day moving average of $32.56 and a 200-day moving average of $32.77. The company has a debt-to-equity ratio of 1.31, a quick ratio of 1.09 and a current ratio of 1.43. Baxter International Inc. has a one year low of $26.25 and a one year high of $41.18.

Baxter International (NYSE:BAX) last announced its quarterly earnings data on Thursday, February 20th. The medical instruments supplier reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.06. The firm had revenue of $2.75 billion for the quarter, compared to analyst estimates of $2.67 billion. Baxter International had a positive return on equity of 16.67% and a negative net margin of 5.05%. As a group, analysts expect that Baxter International Inc. will post 2.48 EPS for the current year.

Baxter International Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, February 28th were given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.44%. The ex-dividend date of this dividend was Friday, February 28th. Baxter International’s dividend payout ratio is currently -53.13%.

About Baxter International

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.