Sivik Global Healthcare LLC Has $5.70 Million Stock Position in Baxter International Inc. (NYSE:BAX)

Sivik Global Healthcare LLC raised its stake in shares of Baxter International Inc. (NYSE:BAX) by 50.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 150,000 shares of the medical instruments supplier’s stock after purchasing an additional 50,000 shares during the period. Baxter International accounts for approximately 2.4% of Sivik Global Healthcare LLC’s investment portfolio, making the stock its 17th biggest position. Sivik Global Healthcare LLC’s holdings in Baxter International were worth $5,696,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. First PREMIER Bank bought a new position in shares of Baxter International in the 3rd quarter worth about $25,000. Innealta Capital LLC purchased a new position in Baxter International during the 2nd quarter valued at about $27,000. LRI Investments LLC purchased a new stake in shares of Baxter International during the first quarter valued at about $39,000. Fortitude Family Office LLC acquired a new stake in Baxter International during the 3rd quarter worth about $38,000. Finally, Versant Capital Management Inc boosted its position in Baxter International by 974.2% during the second 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 in the last quarter. 90.19% of the stock is owned by institutional investors.

Baxter International Price Performance

Shares of Baxter International stock traded down $0.51 during trading hours on Thursday, hitting $32.12. The company’s stock had a trading volume of 251,374 shares, compared to its average volume of 4,053,071. The company has a market cap of $16.39 billion, a PE ratio of 163.21, a PEG ratio of 11.44 and a beta of 0.60. Baxter International Inc. has a 12-month low of $32.01 and a 12-month high of $44.01. The business has a 50 day moving average price of $37.13 and a two-hundred day moving average price of $35.94. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.91 and a current ratio of 1.40.

Baxter International (NYSE:BAX) last released its quarterly earnings data on Friday, November 8th. The medical instruments supplier reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.02. The firm had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.85 billion. Baxter International had a net margin of 0.77% and a return on equity of 18.19%. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.68 earnings per share. Analysts expect that Baxter International Inc. will post 2.33 earnings per share for the current fiscal year.

Baxter International Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, November 29th will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date of this dividend is Friday, November 29th. Baxter International’s dividend payout ratio is currently 580.03%.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. JPMorgan Chase & Co. decreased their target price on shares of Baxter International from $44.00 to $42.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. StockNews.com cut shares of Baxter International from a “buy” rating to a “hold” rating in a research note on Monday. The Goldman Sachs Group boosted their price objective on shares of Baxter International from $36.00 to $40.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. Citigroup increased their price target on Baxter International from $38.00 to $40.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 1st. Finally, Stifel Nicolaus decreased their target price on Baxter International from $46.00 to $38.00 and set a “buy” rating for the company in a report on Monday. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Baxter International currently has an average rating of “Hold” and an average price target of $40.91.

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.