California Public Employees Retirement System Decreases Position in Baxter International Inc. (NYSE:BAX)

California Public Employees Retirement System trimmed its position in shares of Baxter International Inc. (NYSE:BAX) by 1.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,095,910 shares of the medical instruments supplier’s stock after selling 55,605 shares during the quarter. California Public Employees Retirement System owned approximately 0.61% of Baxter International worth $119,688,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Ameriprise Financial Inc. lifted its position in shares of Baxter International by 11.3% in the third quarter. Ameriprise Financial Inc. now owns 10,836,563 shares of the medical instruments supplier’s stock valued at $408,992,000 after acquiring an additional 1,098,787 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Baxter International by 69.0% in the third quarter. Bank of New York Mellon Corp now owns 6,491,343 shares of the medical instruments supplier’s stock valued at $244,983,000 after acquiring an additional 2,650,959 shares in the last quarter. Pzena Investment Management LLC purchased a new stake in shares of Baxter International in the third quarter valued at $215,935,000. Carmignac Gestion lifted its position in shares of Baxter International by 467.0% in the third quarter. Carmignac Gestion now owns 4,848,773 shares of the medical instruments supplier’s stock valued at $182,992,000 after acquiring an additional 3,993,537 shares in the last quarter. Finally, Shapiro Capital Management LLC purchased a new stake in shares of Baxter International in the third quarter valued at $114,307,000. 90.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on the company. StockNews.com upgraded Baxter International from a “hold” rating to a “buy” rating in a research note on Friday, January 19th. Citigroup upped their target price on Baxter International from $41.00 to $44.00 and gave the company a “neutral” rating in a research note on Wednesday, April 3rd. Bank of America upped their target price on Baxter International from $42.00 to $45.00 and gave the company a “neutral” rating in a research note on Tuesday, March 5th. UBS Group dropped their target price on Baxter International from $40.00 to $36.00 and set a “neutral” rating for the company in a research note on Tuesday, February 6th. Finally, Barclays upped their target price on Baxter International from $52.00 to $54.00 and gave the company an “overweight” rating in a research note on Monday, February 12th. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $46.30.

Baxter International Price Performance

BAX stock opened at $41.03 on Wednesday. The company has a debt-to-equity ratio of 1.31, a quick ratio of 1.04 and a current ratio of 1.48. Baxter International Inc. has a 1 year low of $31.01 and a 1 year high of $50.21. The firm has a market cap of $20.84 billion, a P/E ratio of 7.86, a price-to-earnings-growth ratio of 2.17 and a beta of 0.62. The stock has a 50-day simple moving average of $41.83 and a 200-day simple moving average of $38.49.

Baxter International (NYSE:BAX) last issued its quarterly earnings results on Thursday, February 8th. The medical instruments supplier reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.02. The firm had revenue of $3.89 billion during the quarter, compared to the consensus estimate of $3.81 billion. Baxter International had a return on equity of 19.49% and a net margin of 17.77%. Baxter International’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.88 earnings per share. On average, equities analysts predict that Baxter International Inc. will post 2.89 earnings per share for the current fiscal year.

Baxter International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 1st were issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date was Thursday, February 29th. Baxter International’s dividend payout ratio is currently 22.22%.

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.