Baxter International Inc. (NYSE:BAX) Shares Sold by Cincinnati Financial Corp

Cincinnati Financial Corp decreased its stake in shares of Baxter International Inc. (NYSE:BAX) by 73.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 230,000 shares of the medical instruments supplier’s stock after selling 652,600 shares during the quarter. Cincinnati Financial Corp’s holdings in Baxter International were worth $8,733,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. First PREMIER Bank purchased a new stake in shares of Baxter International during the third quarter worth approximately $25,000. Innealta Capital LLC acquired a new position in Baxter International during the 2nd quarter worth approximately $27,000. Fortitude Family Office LLC purchased a new stake in shares of Baxter International in the 3rd quarter valued at approximately $38,000. LRI Investments LLC acquired a new stake in shares of Baxter International in the 1st quarter valued at $39,000. Finally, Versant Capital Management Inc lifted its position in shares of Baxter International by 974.2% during the 2nd quarter. Versant Capital Management Inc now owns 1,332 shares of the medical instruments supplier’s stock worth $45,000 after purchasing an additional 1,208 shares during the last quarter. Institutional investors and hedge funds own 90.19% of the company’s stock.

Baxter International Price Performance

Shares of NYSE BAX opened at $31.96 on Monday. The stock has a market cap of $16.32 billion, a P/E ratio of 159.81, a P/E/G ratio of 12.69 and a beta of 0.60. Baxter International Inc. has a twelve month low of $31.60 and a twelve month high of $44.01. The stock has a 50 day moving average of $36.85 and a two-hundred day moving average of $35.79. The company has a current ratio of 1.43, a quick ratio of 0.91 and a debt-to-equity ratio of 1.31.

Baxter International (NYSE:BAX) last released its quarterly earnings results on Friday, November 8th. The medical instruments supplier reported $0.80 EPS for the quarter, beating the consensus estimate of $0.78 by $0.02. Baxter International had a net margin of 0.77% and a return on equity of 18.30%. The firm had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $3.85 billion. During the same quarter in the prior year, the firm earned $0.68 EPS. Baxter International’s revenue for the quarter was up 3.8% on a year-over-year basis. On average, research analysts forecast that Baxter International Inc. will post 1.98 earnings per share for the current year.

Baxter International Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, November 29th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date of this dividend is Friday, November 29th. Baxter International’s dividend payout ratio is currently 580.03%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. JPMorgan Chase & Co. dropped their target price on Baxter International from $44.00 to $42.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Stifel Nicolaus lowered their price objective on Baxter International from $46.00 to $38.00 and set a “buy” rating for the company in a research report on Monday, November 11th. Wells Fargo & Company cut their target price on Baxter International from $44.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 7th. The Goldman Sachs Group upped their price target on Baxter International from $36.00 to $40.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. Finally, Citigroup increased their price target on shares of Baxter International from $38.00 to $40.00 and gave the company a “neutral” rating in a research note on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $40.91.

Baxter International Company 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.