Adalta Capital Management LLC Boosts Stock Position in Baxter International Inc. (NYSE:BAX)

Adalta Capital Management LLC lifted its position in Baxter International Inc. (NYSE:BAX) by 52.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,460 shares of the medical instruments supplier’s stock after buying an additional 8,370 shares during the quarter. Adalta Capital Management LLC’s holdings in Baxter International were worth $928,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Ameriprise Financial Inc. raised its position in shares of Baxter International by 11.3% in the third quarter. Ameriprise Financial Inc. now owns 10,836,563 shares of the medical instruments supplier’s stock worth $408,992,000 after buying an additional 1,098,787 shares in the last quarter. Geode Capital Management LLC raised its stake in Baxter International by 18.5% in the second quarter. Geode Capital Management LLC now owns 10,629,326 shares of the medical instruments supplier’s stock valued at $482,991,000 after purchasing an additional 1,658,160 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Baxter International by 69.0% in the third quarter. Bank of New York Mellon Corp now owns 6,491,343 shares of the medical instruments supplier’s stock valued at $244,983,000 after purchasing an additional 2,650,959 shares in the last quarter. Pzena Investment Management LLC purchased a new stake in Baxter International in the third quarter valued at approximately $215,935,000. Finally, California Public Employees Retirement System raised its stake in Baxter International by 1.0% in the third quarter. California Public Employees Retirement System now owns 3,151,515 shares of the medical instruments supplier’s stock valued at $118,938,000 after purchasing an additional 30,477 shares in the last quarter. 85.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BAX has been the topic of a number of recent analyst reports. Bank of America raised their target price on shares of Baxter International from $42.00 to $45.00 and gave the company a “neutral” rating in a research note on Tuesday. StockNews.com upgraded Baxter International from a “hold” rating to a “buy” rating in a research report on Friday, January 19th. Barclays raised their price target on Baxter International from $52.00 to $54.00 and gave the company an “overweight” rating in a research report on Monday, February 12th. UBS Group decreased their price target on shares of Baxter International from $40.00 to $36.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 6th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Baxter International from $38.00 to $44.00 and gave the stock a “neutral” rating in a research note on Friday, February 9th. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $46.18.

Baxter International Stock Up 0.8 %

BAX stock traded up $0.32 during midday trading on Wednesday, hitting $42.73. The stock had a trading volume of 1,627,423 shares, compared to its average volume of 3,904,822. The firm has a market cap of $21.70 billion, a price-to-earnings ratio of 8.12, a price-to-earnings-growth ratio of 4.31 and a beta of 0.62. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.48 and a quick ratio of 1.04. Baxter International Inc. has a 52-week low of $31.01 and a 52-week high of $50.21. The business has a 50-day moving average of $39.90 and a two-hundred day moving average of $37.80.

Baxter International (NYSE:BAX) last announced its quarterly earnings data on Thursday, February 8th. The medical instruments supplier reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.02. The business had revenue of $3.89 billion for the quarter, compared to analysts’ expectations of $3.81 billion. Baxter International had a net margin of 17.77% and a return on equity of 19.49%. The business’s revenue was up 3.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.88 earnings per share. As a group, equities research analysts forecast that Baxter International Inc. will post 2.89 earnings per share for the current fiscal year.

Baxter International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Friday, March 1st will be paid a $0.29 dividend. The ex-dividend date is Thursday, February 29th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.71%. Baxter International’s dividend payout ratio is currently 22.22%.

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.