Centre Asset Management LLC Sells 21,904 Shares of Baxter International Inc. (NYSE:BAX)

Centre Asset Management LLC decreased its position in shares of Baxter International Inc. (NYSE:BAX) by 8.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 245,098 shares of the medical instruments supplier’s stock after selling 21,904 shares during the quarter. Centre Asset Management LLC’s holdings in Baxter International were worth $7,147,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the company. First PREMIER Bank acquired a new position in Baxter International during the third quarter worth $25,000. Fortitude Family Office LLC bought a new position in Baxter International in the 3rd quarter valued at $38,000. LRI Investments LLC raised its stake in shares of Baxter International by 60.8% during the 3rd quarter. LRI Investments LLC now owns 1,560 shares of the medical instruments supplier’s stock worth $59,000 after purchasing an additional 590 shares during the period. Cromwell Holdings LLC purchased a new position in shares of Baxter International in the 3rd quarter worth about $62,000. Finally, CKW Financial Group grew its position in Baxter International by 100.0% during the third quarter. CKW Financial Group now owns 2,200 shares of the medical instruments supplier’s stock valued at $81,000 after buying an additional 1,100 shares during the period. 90.19% of the stock is currently owned by institutional investors.

Baxter International Stock Up 0.6 %

Baxter International stock traded up $0.17 during trading hours on Friday, hitting $29.43. The stock had a trading volume of 240,171 shares, compared to its average volume of 2,098,040. The stock’s 50-day moving average price is $32.34 and its 200-day moving average price is $34.98. Baxter International Inc. has a 12-month low of $28.33 and a 12-month high of $44.01. The company has a quick ratio of 1.09, a current ratio of 1.43 and a debt-to-equity ratio of 1.31. The stock has a market capitalization of $15.03 billion, a P/E ratio of 147.16, a price-to-earnings-growth ratio of 12.74 and a beta of 0.57.

Baxter International (NYSE:BAX) last issued its earnings results on Friday, November 8th. The medical instruments supplier reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.02. The company had revenue of $3.85 billion for the quarter, compared to analysts’ expectations of $3.85 billion. Baxter International had a net margin of 0.77% and a return on equity of 18.30%. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the company posted $0.68 earnings per share. Equities research analysts anticipate that Baxter International Inc. will post 1.92 EPS for the current fiscal year.

Baxter International Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, November 29th were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 2.31%. The ex-dividend date was Friday, November 29th. Baxter International’s dividend payout ratio is currently 340.00%.

Analyst Ratings Changes

BAX has been the topic of several research analyst reports. StockNews.com downgraded Baxter International from a “buy” rating to a “hold” rating in a research note on Monday, November 11th. Stifel Nicolaus lowered their price objective on Baxter International from $46.00 to $38.00 and set a “buy” rating on the stock in a research report on Monday, November 11th. Finally, Citigroup reduced their target price on Baxter International from $37.00 to $35.00 and set a “neutral” rating for the company in a research report on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $40.45.

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.