Westpac Banking Corp lessened its stake in shares of Baxter International Inc (NYSE:BAX) by 8.6% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 200,525 shares of the medical instruments supplier’s stock after selling 18,800 shares during the period. Westpac Banking Corp’s holdings in Baxter International were worth $12,962,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of BAX. Family Capital Trust Co bought a new position in shares of Baxter International during the 4th quarter worth approximately $103,000. Grove Bank & Trust raised its position in Baxter International by 526.0% in the 3rd quarter. Grove Bank & Trust now owns 2,285 shares of the medical instruments supplier’s stock valued at $143,000 after purchasing an additional 1,920 shares during the last quarter. Steward Partners Investment Advisory LLC bought a new position in Baxter International in the 3rd quarter valued at $175,000. Hutner Capital Management Inc. bought a new position in Baxter International in the 3rd quarter valued at $203,000. Finally, Stonebridge Capital Advisors LLC bought a new position in Baxter International in the 3rd quarter valued at $204,000. Institutional investors and hedge funds own 83.82% of the company’s stock.

BAX has been the subject of several research analyst reports. Zacks Investment Research upgraded Baxter International from a “hold” rating to a “buy” rating and set a $72.00 price objective for the company in a research report on Tuesday, October 24th. Royal Bank of Canada reiterated a “hold” rating and issued a $66.00 price objective on shares of Baxter International in a research report on Wednesday, November 22nd. BMO Capital Markets reiterated a “buy” rating and issued a $70.00 price objective on shares of Baxter International in a research report on Friday, October 13th. Bank of America reiterated a “hold” rating on shares of Baxter International in a research report on Wednesday, November 22nd. Finally, Raymond James Financial upgraded Baxter International from a “market perform” rating to an “outperform” rating and set a $73.00 price objective for the company in a research report on Wednesday, January 3rd. Seven analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $68.64.

In other news, Director Third Point Llc sold 5,000,000 shares of Baxter International stock in a transaction on Monday, November 6th. The stock was sold at an average price of $64.23, for a total value of $321,150,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Giuseppe Accogli sold 28,641 shares of Baxter International stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $67.00, for a total value of $1,918,947.00. The disclosure for this sale can be found here. Insiders sold a total of 5,061,991 shares of company stock valued at $325,245,035 over the last three months. Insiders own 0.05% of the company’s stock.

Shares of Baxter International Inc (NYSE:BAX) opened at $69.20 on Friday. The company has a market capitalization of $37,700.00, a price-to-earnings ratio of 37.41, a PEG ratio of 2.05 and a beta of 0.69. Baxter International Inc has a 52 week low of $45.47 and a 52 week high of $69.65. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.80 and a quick ratio of 2.22.

Baxter International (NYSE:BAX) last released its earnings results on Wednesday, October 25th. The medical instruments supplier reported $0.64 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.05. The company had revenue of $2.71 billion during the quarter, compared to analysts’ expectations of $2.66 billion. Baxter International had a return on equity of 15.00% and a net margin of 9.88%. The business’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period last year, the firm earned $0.56 EPS. sell-side analysts predict that Baxter International Inc will post 2.43 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 2nd. Stockholders of record on Friday, December 1st were paid a $0.16 dividend. The ex-dividend date of this dividend was Thursday, November 30th. This represents a $0.64 annualized dividend and a dividend yield of 0.92%. Baxter International’s dividend payout ratio (DPR) is currently 34.59%.

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About Baxter International

Baxter International Inc, through its subsidiaries, provides renal and hospital products. The Company operates through two segments: Hospital Products and Renal. Its Hospital Products business manufactures sterile intravenous (IV) solutions and administration sets, premixed drugs and drug-reconstitution systems, pre-filled vials and syringes for injectable drugs, IV nutrition products, parenteral nutrition therapies, infusion pumps, inhalation anesthetics and biosurgery products.

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Institutional Ownership by Quarter for Baxter International (NYSE:BAX)

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