PVG Asset Management Corp Reduces Position in Baxter International Inc. (NYSE:BAX)

PVG Asset Management Corp reduced its position in Baxter International Inc. (NYSE:BAX) by 37.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,367 shares of the medical instruments supplier’s stock after selling 3,780 shares during the quarter. Baxter International accounts for approximately 1.2% of PVG Asset Management Corp’s holdings, making the stock its 21st biggest holding. PVG Asset Management Corp’s holdings in Baxter International were worth $246,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Headinvest LLC purchased a new position in Baxter International in the 3rd quarter worth about $25,000. Bruce G. Allen Investments LLC bought a new stake in Baxter International during the 4th quarter valued at $36,000. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Baxter International in the 4th quarter worth $37,000. Hexagon Capital Partners LLC lifted its stake 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 acquiring an additional 641 shares during the period. Finally, CKW Financial Group purchased a new position in Baxter International during the 4th quarter valued at about $43,000. Hedge funds and other institutional investors own 90.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on BAX shares. The Goldman Sachs Group began coverage on shares of Baxter International in a research note on Thursday, May 30th. They set a “neutral” rating and a $36.00 price objective on the stock. Bank of America lifted their price target on Baxter International from $42.00 to $45.00 and gave the company a “neutral” rating in a report on Tuesday, March 5th. TD Cowen downgraded Baxter International from a “buy” rating to a “hold” rating and set a $40.00 price objective on the stock. in a research report on Friday, May 10th. Finally, Citigroup reduced their target price on shares of Baxter International from $44.00 to $38.00 and set a “neutral” rating for the company in a report on Wednesday, May 22nd. Nine analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Baxter International presently has a consensus rating of “Hold” and a consensus price target of $44.42.

Baxter International Trading Up 0.5 %

Shares of BAX stock traded up $0.17 during trading hours on Monday, hitting $33.95. The company had a trading volume of 1,614,268 shares, compared to its average volume of 3,965,488. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.48 and a quick ratio of 1.01. The company’s fifty day moving average is $36.72 and its 200 day moving average is $38.89. Baxter International Inc. has a fifty-two week low of $31.01 and a fifty-two week high of $50.21. The stock has a market capitalization of $17.30 billion, a PE ratio of 6.50, a price-to-earnings-growth ratio of 1.76 and a beta of 0.61.

Baxter International (NYSE:BAX) last issued its quarterly earnings results on Thursday, May 2nd. The medical instruments supplier reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.04. Baxter International had a net margin of 17.79% and a return on equity of 18.47%. The business had revenue of $3.59 billion for the quarter, compared to analysts’ expectations of $3.55 billion. During the same quarter in the prior year, the company earned $0.59 earnings per share. The business’s quarterly revenue was down 1.6% on a year-over-year basis. Research analysts expect that Baxter International Inc. will post 2.91 earnings per share for the current fiscal year.

Baxter International Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, May 31st will be given a dividend of $0.29 per share. The ex-dividend date is Friday, May 31st. This represents a $1.16 annualized dividend and a dividend yield of 3.42%. Baxter International’s dividend payout ratio (DPR) is currently 22.31%.

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.