Handelsbanken Fonder AB Raises Holdings in Baxter International Inc. (NYSE:BAX)

Handelsbanken Fonder AB grew its position in Baxter International Inc. (NYSE:BAX) by 8.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 314,320 shares of the medical instruments supplier’s stock after buying an additional 23,218 shares during the quarter. Handelsbanken Fonder AB’s holdings in Baxter International were worth $10,759,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in BAX. Van ECK Associates Corp lifted its holdings in shares of Baxter International by 10.2% in the 4th quarter. Van ECK Associates Corp now owns 68,198 shares of the medical instruments supplier’s stock worth $1,989,000 after buying an additional 6,320 shares during the period. Rhumbline Advisers raised its position in shares of Baxter International by 1.2% in the 4th quarter. Rhumbline Advisers now owns 1,113,125 shares of the medical instruments supplier’s stock worth $32,459,000 after acquiring an additional 13,424 shares in the last quarter. Nicholas Hoffman & Company LLC. bought a new position in shares of Baxter International in the 4th quarter worth $907,000. New York State Common Retirement Fund raised its position in shares of Baxter International by 7.9% in the 4th quarter. New York State Common Retirement Fund now owns 476,248 shares of the medical instruments supplier’s stock worth $13,887,000 after acquiring an additional 34,748 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Baxter International by 22.3% in the 4th quarter. Bank of New York Mellon Corp now owns 15,359,040 shares of the medical instruments supplier’s stock worth $447,870,000 after acquiring an additional 2,803,920 shares in the last quarter. 90.19% of the stock is currently owned by hedge funds and other institutional investors.

Baxter International Trading Down 0.2%

Shares of NYSE:BAX opened at $31.34 on Friday. The business’s 50-day moving average is $30.16 and its 200 day moving average is $31.38. Baxter International Inc. has a 1 year low of $26.25 and a 1 year high of $40.49. The firm has a market capitalization of $16.08 billion, a P/E ratio of -24.48, a P/E/G ratio of 0.93 and a beta of 0.61. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.43 and a quick ratio of 1.09.

Baxter International (NYSE:BAX) last announced its earnings results on Thursday, May 1st. The medical instruments supplier reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.14. Baxter International had a positive return on equity of 16.67% and a negative net margin of 5.05%. The company had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.59 billion. During the same period in the prior year, the company posted $0.65 EPS. The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. On average, research analysts predict that Baxter International Inc. will post 2.48 earnings per share for the current fiscal year.

Baxter International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, May 30th will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date is Friday, May 30th. Baxter International’s dividend payout ratio is presently -61.82%.

Analyst Upgrades and Downgrades

BAX has been the subject of several recent research reports. Morgan Stanley reduced their price target on Baxter International from $30.00 to $28.00 and set an “underweight” rating for the company in a research report on Monday, May 5th. Wells Fargo & Company reduced their price target on Baxter International from $36.00 to $33.00 and set an “equal weight” rating for the company in a research report on Friday, May 2nd. Argus raised Baxter International from a “hold” rating to a “buy” rating in a research report on Monday, February 24th. The Goldman Sachs Group initiated coverage on Baxter International in a research report on Wednesday, February 26th. They issued a “buy” rating and a $42.00 price target for the company. Finally, Barclays boosted 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. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $37.25.

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.