KLP Kapitalforvaltning AS Takes Position in Baxter International Inc. (NYSE:BAX)

KLP Kapitalforvaltning AS bought a new position in Baxter International Inc. (NYSE:BAX) in the fourth quarter, Holdings Channel reports. The firm bought 174,176 shares of the medical instruments supplier’s stock, valued at approximately $5,104,000.

Other hedge funds have also bought and sold shares of the company. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Baxter International by 1.9% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,160,666 shares of the medical instruments supplier’s stock valued at $33,845,000 after buying an additional 21,592 shares during the last quarter. Nicholas Hoffman & Company LLC. acquired a new stake in Baxter International during the 4th quarter worth about $907,000. Geode Capital Management LLC grew its stake in Baxter International by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 12,156,660 shares of the medical instruments supplier’s stock valued at $460,022,000 after purchasing an additional 170,776 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Baxter International by 22.3% in the fourth quarter. Bank of New York Mellon Corp now owns 15,359,040 shares of the medical instruments supplier’s stock valued at $447,870,000 after purchasing an additional 2,803,920 shares during the period. Finally, Toronto Dominion Bank raised its stake in shares of Baxter International by 15.4% in the third quarter. Toronto Dominion Bank now owns 170,855 shares of the medical instruments supplier’s stock worth $6,487,000 after purchasing an additional 22,787 shares during the last quarter. Institutional investors and hedge funds own 90.19% of the company’s stock.

Baxter International Stock Down 1.7 %

Shares of BAX opened at $33.04 on Wednesday. The firm has a market cap of $16.90 billion, a P/E ratio of -25.81, a PEG ratio of 0.93 and a beta of 0.60. Baxter International Inc. has a 12 month low of $28.34 and a 12 month high of $43.99. The stock’s 50 day moving average is $33.02 and its two-hundred day moving average is $33.74. The company has a current ratio of 1.43, a quick ratio of 1.09 and a debt-to-equity ratio of 1.31.

Baxter International (NYSE:BAX) last announced its earnings results on Thursday, February 20th. The medical instruments supplier reported $0.58 earnings per share (EPS) for the quarter, beating 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%. Analysts predict that Baxter International Inc. will post 2.48 earnings per share for the current fiscal year.

Baxter International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, February 28th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.68 annualized dividend and a dividend yield of 2.06%. Baxter International’s dividend payout ratio (DPR) is presently -53.13%.

Analysts Set New Price Targets

Several brokerages recently weighed in on BAX. The Goldman Sachs Group started coverage on shares of Baxter International in a report on Wednesday, February 26th. They issued a “buy” rating and a $42.00 price target on the stock. JPMorgan Chase & Co. reduced their target price 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. Argus upgraded shares of Baxter International from a “hold” rating to a “buy” rating in a research report on Monday, February 24th. Barclays increased their price target on Baxter International from $39.00 to $41.00 and gave the stock an “overweight” rating in a research report on Monday, March 10th. Finally, Citigroup decreased their price objective on Baxter International from $37.00 to $35.00 and set a “neutral” rating for the company in a report on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Baxter International presently has a consensus rating of “Hold” and an average target price of $38.56.

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.