TD Private Client Wealth LLC Buys 9,357 Shares of Baxter International Inc. (NYSE:BAX)

TD Private Client Wealth LLC lifted its stake in shares of Baxter International Inc. (NYSE:BAX) by 29.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 41,027 shares of the medical instruments supplier’s stock after purchasing an additional 9,357 shares during the quarter. TD Private Client Wealth LLC’s holdings in Baxter International were worth $1,558,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. First PREMIER Bank bought a new stake in shares of Baxter International during the 3rd quarter valued at approximately $25,000. Innealta Capital LLC bought a new stake in shares of Baxter International during the 2nd quarter valued at approximately $27,000. Fortitude Family Office LLC bought a new stake in shares of Baxter International during the 3rd quarter valued at approximately $38,000. LRI Investments LLC grew its holdings in shares of Baxter International by 60.8% during the 3rd quarter. LRI Investments LLC now owns 1,560 shares of the medical instruments supplier’s stock valued at $59,000 after purchasing an additional 590 shares during the last quarter. Finally, Cromwell Holdings LLC bought a new stake in shares of Baxter International during the 3rd quarter valued at approximately $62,000. 90.19% of the stock is owned by institutional investors.

Analysts Set New Price Targets

BAX has been the topic of a number of research reports. StockNews.com lowered shares of Baxter International from a “buy” rating to a “hold” rating in a report on Monday, November 11th. Stifel Nicolaus reduced their target price on shares of Baxter International from $46.00 to $38.00 and set a “buy” rating on the stock in a report on Monday, November 11th. Finally, Citigroup reduced their target price on shares of Baxter International from $37.00 to $35.00 and set a “neutral” rating on the stock in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Baxter International currently has a consensus rating of “Hold” and an average target price of $40.45.

Baxter International Stock Performance

BAX stock opened at $30.84 on Friday. The firm has a market cap of $15.75 billion, a PE ratio of 154.20, a price-to-earnings-growth ratio of 13.06 and a beta of 0.57. The company has a current ratio of 1.43, a quick ratio of 1.09 and a debt-to-equity ratio of 1.31. The stock has a 50-day moving average price of $34.66 and a 200-day moving average price of $35.45. Baxter International Inc. has a 1-year low of $30.76 and a 1-year high of $44.01.

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

Baxter International Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, November 29th will be paid a $0.17 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.68 annualized dividend and a dividend yield of 2.20%. Baxter International’s dividend payout ratio is currently 340.00%.

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.