Baxter International Inc. (NYSE:BAX) Shares Sold by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. lessened its holdings in shares of Baxter International Inc. (NYSE:BAX) by 29.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 81,871 shares of the medical instruments supplier’s stock after selling 34,766 shares during the period. Cullen Frost Bankers Inc.’s holdings in Baxter International were worth $3,165,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in BAX. Graypoint LLC raised its holdings in Baxter International by 154.7% during the third quarter. Graypoint LLC now owns 13,573 shares of the medical instruments supplier’s stock worth $512,000 after purchasing an additional 8,245 shares in the last quarter. TIAA Trust National Association bought a new stake in Baxter International during the third quarter worth approximately $614,000. New Mexico Educational Retirement Board increased its holdings in shares of Baxter International by 7.3% in the third quarter. New Mexico Educational Retirement Board now owns 26,361 shares of the medical instruments supplier’s stock valued at $995,000 after buying an additional 1,800 shares in the last quarter. FDx Advisors Inc. increased its holdings in shares of Baxter International by 120.0% in the third quarter. FDx Advisors Inc. now owns 11,714 shares of the medical instruments supplier’s stock valued at $442,000 after buying an additional 6,389 shares in the last quarter. Finally, California Public Employees Retirement System lifted its position in shares of Baxter International by 1.0% during the 3rd 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 acquiring an additional 30,477 shares during the last quarter. 90.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have commented on BAX. UBS Group decreased their target price on shares of Baxter International from $40.00 to $36.00 and set a “neutral” rating for the company in a report on Tuesday, February 6th. Barclays increased their target price on Baxter International from $52.00 to $54.00 and gave the company an “overweight” rating in a report on Monday, February 12th. Citigroup lifted their price target on Baxter International from $41.00 to $44.00 and gave the company a “neutral” rating in a report on Wednesday, April 3rd. JPMorgan Chase & Co. raised their price objective on Baxter International from $38.00 to $44.00 and gave the stock a “neutral” rating in a research report on Friday, February 9th. Finally, Bank of America boosted their price objective on shares of Baxter International from $42.00 to $45.00 and gave the company a “neutral” rating in a research report on Tuesday, March 5th. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Baxter International has a consensus rating of “Hold” and a consensus price target of $46.30.

Baxter International Stock Performance

BAX opened at $35.75 on Thursday. The stock has a 50-day moving average of $41.30 and a 200-day moving average of $38.89. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.01 and a current ratio of 1.48. Baxter International Inc. has a 52-week low of $31.01 and a 52-week high of $50.21. The company has a market cap of $18.22 billion, a PE ratio of 6.88, a price-to-earnings-growth ratio of 1.97 and a beta of 0.64.

Baxter International (NYSE:BAX) last announced its earnings results on Thursday, May 2nd. The medical instruments supplier reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.04. Baxter International had a return on equity of 18.47% and a net margin of 17.79%. The firm had revenue of $3.59 billion during the quarter, compared to analysts’ expectations of $3.55 billion. During the same quarter in the prior year, the business earned $0.59 earnings per share. The company’s revenue was down 1.6% on a year-over-year basis. As a group, equities research analysts forecast that Baxter International Inc. will post 2.9 earnings per share for the current fiscal year.

Baxter International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, May 31st will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date of this dividend is Friday, May 31st. Baxter International’s dividend payout ratio is 22.31%.

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.