California Public Employees Retirement System Has $287.19 Million Position in Baxter International Inc. (NYSE:BAX)

California Public Employees Retirement System reduced its stake in Baxter International Inc. (NYSE:BAXGet Rating) by 1.9% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 3,703,807 shares of the medical instruments supplier’s stock after selling 72,426 shares during the quarter. California Public Employees Retirement System owned approximately 0.74% of Baxter International worth $287,193,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. NuWave Investment Management LLC lifted its holdings in Baxter International by 401.8% in the 1st quarter. NuWave Investment Management LLC now owns 7,347 shares of the medical instruments supplier’s stock worth $570,000 after purchasing an additional 5,883 shares during the last quarter. Ensign Peak Advisors Inc increased its position in Baxter International by 92.5% in the 4th quarter. Ensign Peak Advisors Inc now owns 106,265 shares of the medical instruments supplier’s stock worth $9,121,000 after buying an additional 51,069 shares during the period. Alpha Paradigm Partners LLC bought a new position in Baxter International in the 4th quarter worth approximately $700,000. First American Trust FSB bought a new position in Baxter International in the 1st quarter worth approximately $4,175,000. Finally, Cassady Schiller Wealth Management LLC bought a new position in Baxter International in the 4th quarter worth approximately $68,000. 86.65% of the stock is currently owned by institutional investors and hedge funds.

Baxter International Price Performance

Shares of BAX stock opened at $66.80 on Thursday. The stock’s fifty day simple moving average is $68.39 and its 200 day simple moving average is $76.10. The company has a debt-to-equity ratio of 1.84, a current ratio of 2.10 and a quick ratio of 1.45. The firm has a market cap of $33.64 billion, a price-to-earnings ratio of 31.96, a P/E/G ratio of 1.28 and a beta of 0.68. Baxter International Inc. has a one year low of $62.70 and a one year high of $89.70.

Baxter International (NYSE:BAXGet Rating) last announced its quarterly earnings results on Thursday, April 28th. The medical instruments supplier reported $0.93 EPS for the quarter, beating the consensus estimate of $0.80 by $0.13. The business had revenue of $3.71 billion for the quarter, compared to analyst estimates of $3.68 billion. Baxter International had a return on equity of 21.59% and a net margin of 7.80%. Baxter International’s quarterly revenue was up 25.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.76 EPS. On average, analysts expect that Baxter International Inc. will post 4.13 earnings per share for the current fiscal year.

Baxter International Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Friday, September 2nd will be paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date of this dividend is Thursday, September 1st. Baxter International’s dividend payout ratio is currently 55.50%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on BAX shares. TheStreet downgraded Baxter International from a “b-” rating to a “c” rating in a research report on Thursday, April 28th. The Goldman Sachs Group downgraded Baxter International from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $88.00 to $77.00 in a research report on Monday, April 4th. StockNews.com initiated coverage on Baxter International in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Raymond James lowered their price objective on Baxter International from $96.00 to $85.00 in a research report on Friday, April 29th. Finally, Morgan Stanley lowered their price objective on Baxter International from $95.00 to $86.00 and set an “overweight” rating on the stock in a research report on Friday, July 15th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $86.38.

About Baxter International

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Baxter International Inc, through its subsidiaries, develops and provides a portfolio of healthcare products worldwide. The company offers peritoneal dialysis and hemodialysis, and additional dialysis therapies and services; intravenous therapies, infusion pumps, administration sets, and drug reconstitution devices; remixed and oncology drug platforms, inhaled anesthesia and critical care products and pharmacy compounding services; parenteral nutrition therapies and related products; biological products and medical devices used in surgical procedures for hemostasis, tissue sealing and adhesion prevention; and continuous renal replacement therapies and other organ support therapies focused in the intensive care unit.

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Institutional Ownership by Quarter for Baxter International (NYSE:BAX)

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