Sumitomo Mitsui Trust Group Inc. Raises Stock Holdings in Baxter International Inc. (NYSE:BAX)

Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Baxter International Inc. (NYSE:BAX) by 1.1% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,139,074 shares of the medical instruments supplier’s stock after buying an additional 12,773 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Baxter International were worth $43,251,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. First PREMIER Bank bought a new position in shares of Baxter International during the third quarter valued at about $25,000. Innealta Capital LLC bought a new position in Baxter International during the 2nd quarter valued at approximately $27,000. Fortitude Family Office LLC purchased a new stake in Baxter International in the 3rd quarter worth approximately $38,000. LRI Investments LLC purchased a new stake in Baxter International in the 1st quarter worth approximately $39,000. Finally, Versant Capital Management Inc grew its position in shares of Baxter International by 974.2% in the 2nd quarter. Versant Capital Management Inc now owns 1,332 shares of the medical instruments supplier’s stock worth $45,000 after buying an additional 1,208 shares during the last quarter. Hedge funds and other institutional investors own 90.19% of the company’s stock.

Baxter International Stock Performance

Baxter International stock opened at $31.96 on Friday. The stock’s 50 day moving average is $36.99 and its 200 day moving average is $35.91. The company has a market capitalization of $16.32 billion, a P/E ratio of 159.06, a PEG ratio of 10.40 and a beta of 0.60. Baxter International Inc. has a twelve month low of $31.60 and a twelve month high of $44.01. The company has a quick ratio of 0.91, a current ratio of 1.43 and a debt-to-equity ratio of 1.31.

Baxter International (NYSE:BAX) last issued its quarterly earnings results on Friday, November 8th. The medical instruments supplier reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.02. The firm 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 company’s revenue was up 3.8% on a year-over-year basis. During the same period last year, the company earned $0.68 earnings per share. On average, equities research analysts predict that Baxter International Inc. will post 2.47 earnings per share for the current fiscal year.

Baxter International Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, November 29th will be issued a $0.17 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.68 annualized dividend and a yield of 2.13%. Baxter International’s dividend payout ratio (DPR) is presently 580.03%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on BAX. The Goldman Sachs Group raised their price target on Baxter International from $36.00 to $40.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. Citigroup lifted their target price on shares of Baxter International from $38.00 to $40.00 and gave the company a “neutral” rating in a research note on Tuesday, October 1st. StockNews.com downgraded shares of Baxter International from a “buy” rating to a “hold” rating in a research note on Monday, November 11th. JPMorgan Chase & Co. cut their price objective on Baxter International from $44.00 to $42.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Finally, Stifel Nicolaus lowered their target price on Baxter International from $46.00 to $38.00 and set a “buy” rating for the company in a research note on Monday, November 11th. One analyst has rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average 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.