Allstate Corp Invests $450,000 in Baxter International Inc. (NYSE:BAX)

Allstate Corp acquired a new stake in Baxter International Inc. (NYSE:BAX) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 15,420 shares of the medical instruments supplier’s stock, valued at approximately $450,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. CKW Financial Group boosted its holdings in Baxter International by 19.3% in the 4th quarter. CKW Financial Group now owns 2,625 shares of the medical instruments supplier’s stock valued at $77,000 after purchasing an additional 425 shares during the period. LRI Investments LLC lifted its stake in shares of Baxter International by 60.8% in the third quarter. LRI Investments LLC now owns 1,560 shares of the medical instruments supplier’s stock valued at $59,000 after buying an additional 590 shares during the period. Whittier Trust Co. of Nevada Inc. lifted its stake in shares of Baxter International by 5.8% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 13,618 shares of the medical instruments supplier’s stock valued at $397,000 after buying an additional 752 shares during the period. CoreFirst Bank & Trust bought a new position in Baxter International during the fourth quarter valued at about $26,000. Finally, Riverview Trust Co raised its holdings in Baxter International by 5,488.2% in the 4th quarter. Riverview Trust Co now owns 950 shares of the medical instruments supplier’s stock valued at $28,000 after acquiring an additional 933 shares in the last quarter. Institutional investors and hedge funds own 90.19% of the company’s stock.

Baxter International Trading Down 0.6 %

Shares of BAX opened at $34.03 on Wednesday. The stock has a fifty day moving average price of $33.31 and a two-hundred day moving average price of $33.54. The company has a debt-to-equity ratio of 1.31, a quick ratio of 1.09 and a current ratio of 1.43. The company has a market cap of $17.46 billion, a price-to-earnings ratio of -26.59, a PEG ratio of 0.93 and a beta of 0.60. Baxter International Inc. has a 52-week low of $28.34 and a 52-week high of $43.72.

Baxter International (NYSE:BAX) last issued its quarterly earnings results on Thursday, February 20th. The medical instruments supplier reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.06. The business had revenue of $2.75 billion for the quarter, compared to the consensus estimate of $2.67 billion. Baxter International had a negative net margin of 5.05% and a positive return on equity of 16.67%. Analysts predict that Baxter International Inc. will post 2.48 EPS for the current fiscal year.

Baxter International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, February 28th were given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 2.00%. The ex-dividend date was Friday, February 28th. Baxter International’s dividend payout ratio (DPR) is presently -53.13%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on BAX. Citigroup lowered their price objective on Baxter International from $37.00 to $35.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 11th. Barclays boosted their price target on shares of Baxter International from $39.00 to $41.00 and gave the company an “overweight” rating in a report on Monday, March 10th. Argus raised shares of Baxter International from a “hold” rating to a “buy” rating in a report on Monday, February 24th. JPMorgan Chase & Co. lowered their target price on shares of Baxter International from $38.00 to $36.00 and set a “neutral” rating on the stock in a research note on Friday, February 21st. Finally, The Goldman Sachs Group initiated coverage on Baxter International in a research report on Wednesday, February 26th. They set a “buy” rating and a $42.00 target price for the company. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $38.56.

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.