Baxter International Inc. (NYSE:BAX) Stake Lowered by Adalta Capital Management LLC

Adalta Capital Management LLC decreased its stake in Baxter International Inc. (NYSE:BAX) by 68.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,425 shares of the medical instruments supplier’s stock after selling 16,353 shares during the period. Adalta Capital Management LLC’s holdings in Baxter International were worth $289,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in BAX. First PREMIER Bank acquired a new stake in shares of Baxter International in the third quarter valued at approximately $25,000. Innealta Capital LLC acquired a new stake in Baxter International in the 2nd quarter valued at approximately $27,000. Fortitude Family Office LLC bought a new stake in Baxter International during the 3rd quarter valued at $38,000. LRI Investments LLC boosted its position in Baxter International by 60.8% during the 3rd quarter. LRI Investments LLC now owns 1,560 shares of the medical instruments supplier’s stock worth $59,000 after acquiring an additional 590 shares during the period. Finally, Cromwell Holdings LLC bought a new position in shares of Baxter International in the third quarter worth $62,000. Institutional investors and hedge funds own 90.19% of the company’s stock.

Baxter International Stock Down 0.3 %

Shares of NYSE:BAX opened at $31.80 on Monday. The firm has a 50 day simple moving average of $35.00 and a 200 day simple moving average of $35.51. Baxter International Inc. has a 52 week low of $31.60 and a 52 week high of $44.01. The company has a debt-to-equity ratio of 1.31, a quick ratio of 1.09 and a current ratio of 1.43. The company has a market cap of $16.24 billion, a PE ratio of 159.01, a price-to-earnings-growth ratio of 13.06 and a beta of 0.58.

Baxter International (NYSE:BAX) last released its earnings results on Friday, November 8th. The medical instruments supplier reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.02. The company had revenue of $3.85 billion during the quarter, compared to analyst estimates of $3.85 billion. Baxter International had a return on equity of 18.30% and a net margin of 0.77%. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.68 earnings per share. As a group, research analysts expect that Baxter International Inc. will post 1.92 earnings per share for the current year.

Baxter International Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, November 29th will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 2.14%. The ex-dividend date is Friday, November 29th. Baxter International’s payout ratio is 340.02%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on BAX. Citigroup upped their price objective 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. StockNews.com cut shares of Baxter International from a “buy” rating to a “hold” rating in a report on Monday, November 11th. Finally, Stifel Nicolaus dropped their target price on Baxter International from $46.00 to $38.00 and set a “buy” rating on the stock in a report on Monday, November 11th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Baxter International presently has a consensus rating of “Hold” and a consensus target price of $40.91.

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.