New York State Teachers Retirement System decreased its position in shares of Baxter International Inc. (NYSE:BAX – Get Rating) by 2.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 523,821 shares of the medical instruments supplier’s stock after selling 12,727 shares during the quarter. New York State Teachers Retirement System owned approximately 0.10% of Baxter International worth $26,699,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Old North State Trust LLC acquired a new stake in shares of Baxter International during the third quarter valued at about $37,000. Cowa LLC acquired a new stake in Baxter International during the 3rd quarter worth approximately $40,000. RFP Financial Group LLC bought a new stake in Baxter International during the 4th quarter worth approximately $41,000. Motco increased its position in Baxter International by 73.1% in the 3rd quarter. Motco now owns 947 shares of the medical instruments supplier’s stock valued at $51,000 after acquiring an additional 400 shares during the period. Finally, Almanack Investment Partners LLC. bought a new position in shares of Baxter International during the third quarter valued at $63,000. Institutional investors own 84.84% of the company’s stock.
Wall Street Analyst Weigh In
BAX has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft downgraded Baxter International from a “buy” rating to a “hold” rating and decreased their price objective for the company from $69.00 to $51.00 in a report on Thursday, December 15th. JPMorgan Chase & Co. cut Baxter International from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $68.00 to $55.00 in a report on Monday, December 19th. StockNews.com began coverage on shares of Baxter International in a report on Thursday, March 16th. They set a “hold” rating for the company. Barclays reduced their price objective on shares of Baxter International from $63.00 to $54.00 and set an “overweight” rating on the stock in a research note on Monday, February 13th. Finally, Citigroup lowered their target price on shares of Baxter International from $58.00 to $44.00 and set a “neutral” rating for the company in a research note on Monday, February 13th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Baxter International has a consensus rating of “Hold” and a consensus target price of $53.94.
Baxter International Trading Up 1.7 %
Baxter International (NYSE:BAX – Get Rating) last announced its quarterly earnings results on Thursday, February 9th. The medical instruments supplier reported $0.88 EPS for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.06). Baxter International had a negative net margin of 16.10% and a positive return on equity of 24.03%. The business had revenue of $3.89 billion for the quarter, compared to the consensus estimate of $3.77 billion. During the same quarter last year, the firm posted $1.04 EPS. The business’s revenue for the quarter was up 10.6% compared to the same quarter last year. As a group, equities analysts anticipate that Baxter International Inc. will post 2.84 earnings per share for the current fiscal year.
Baxter International Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, April 3rd. Investors of record on Friday, February 24th were paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date was Thursday, February 23rd. Baxter International’s payout ratio is currently -24.02%.
Insider Activity at Baxter International
In other news, SVP Jacqueline Kunzler sold 3,813 shares of the firm’s stock in a transaction on Tuesday, February 21st. The stock was sold at an average price of $40.50, for a total value of $154,426.50. Following the completion of the transaction, the senior vice president now directly owns 16,725 shares of the company’s stock, valued at $677,362.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, SVP Jacqueline Kunzler sold 3,813 shares of the company’s stock in a transaction dated Tuesday, February 21st. The stock was sold at an average price of $40.50, for a total transaction of $154,426.50. Following the sale, the senior vice president now directly owns 16,725 shares in the company, valued at $677,362.50. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Jeanne K. Mason sold 59,477 shares of the stock in a transaction dated Tuesday, January 17th. The stock was sold at an average price of $44.70, for a total transaction of $2,658,621.90. Following the completion of the sale, the senior vice president now directly owns 126,231 shares in the company, valued at $5,642,525.70. The disclosure for this sale can be found here. In the last ninety days, insiders sold 67,220 shares of company stock worth $2,960,502. Corporate insiders own 0.21% of the company’s stock.
Baxter International Profile
Baxter International, Inc engages in the provision of a portfolio of essential healthcare products including acute and chronic dialysis therapies, sterile intravenous (IV) solutions, infusion systems and devices, parenteral nutrition therapies, inhaled anesthetics, generic injectable pharmaceuticals, surgical hemostat and sealant products, surgical equipment, smart bed systems, patient monitoring and diagnostic technologies, and respiratory health devices.
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