Baxter International Inc (BAX) Holdings Boosted by California Public Employees Retirement System
California Public Employees Retirement System grew its holdings in Baxter International Inc (NYSE:BAX) by 3.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,450,242 shares of the medical instruments supplier’s stock after purchasing an additional 47,076 shares during the quarter. California Public Employees Retirement System owned about 0.27% of Baxter International worth $91,003,000 as of its most recent filing with the SEC.
A number of other institutional investors have also bought and sold shares of the business. Blue Fin Capital Inc. acquired a new position in shares of Baxter International during the second quarter valued at $205,000. Dupont Capital Management Corp acquired a new position in shares of Baxter International during the second quarter valued at $2,641,000. LMR Partners LLP acquired a new position in shares of Baxter International during the second quarter valued at $2,575,000. Alps Advisors Inc. lifted its stake in shares of Baxter International by 0.5% during the second quarter. Alps Advisors Inc. now owns 10,261 shares of the medical instruments supplier’s stock valued at $621,000 after acquiring an additional 52 shares during the period. Finally, Blair William & Co. IL lifted its stake in shares of Baxter International by 5.2% during the second quarter. Blair William & Co. IL now owns 64,603 shares of the medical instruments supplier’s stock valued at $3,911,000 after acquiring an additional 3,195 shares during the period. 84.18% of the stock is currently owned by institutional investors.
Shares of Baxter International Inc (NYSE:BAX) opened at $64.14 on Tuesday. Baxter International Inc has a fifty-two week low of $43.81 and a fifty-two week high of $66.18. The company has a market capitalization of $34,896.48, a PE ratio of 26.47, a P/E/G ratio of 2.14 and a beta of 0.69. The company has a quick ratio of 2.22, a current ratio of 2.80 and a debt-to-equity ratio of 0.37.
Baxter International (NYSE:BAX) last announced its quarterly earnings results on Wednesday, October 25th. The medical instruments supplier reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.05. Baxter International had a return on equity of 15.00% and a net margin of 9.88%. The company had revenue of $2.71 billion during the quarter, compared to the consensus estimate of $2.66 billion. During the same period in the prior year, the company earned $0.56 earnings per share. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. equities analysts expect that Baxter International Inc will post 2.43 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 1st will be issued a $0.16 dividend. The ex-dividend date is Thursday, November 30th. This represents a $0.64 annualized dividend and a dividend yield of 1.00%. Baxter International’s dividend payout ratio (DPR) is currently 34.41%.
Several equities analysts have recently issued reports on BAX shares. Royal Bank of Canada reaffirmed a “hold” rating and set a $60.00 price target on shares of Baxter International in a research note on Friday, September 1st. Bank of America reiterated a “hold” rating on shares of Baxter International in a report on Wednesday, November 22nd. Citigroup initiated coverage on Baxter International in a report on Thursday, August 17th. They issued a “neutral” rating and a $63.00 price objective for the company. Zacks Investment Research upgraded Baxter International from a “hold” rating to a “buy” rating and set a $69.00 price objective for the company in a report on Tuesday, October 10th. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $65.00 price objective on shares of Baxter International in a report on Thursday, October 26th. Seven research analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $67.46.
In related news, Director Third Point Llc sold 5,000,000 shares of the stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $64.23, for a total transaction of $321,150,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Jeanne K. Mason sold 33,350 shares of the stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $65.25, for a total value of $2,176,087.50. Following the transaction, the senior vice president now owns 124,609 shares of the company’s stock, valued at $8,130,737.25. The disclosure for this sale can be found here. 0.05% of the stock is owned by corporate insiders.
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Baxter International Profile
Baxter International Inc, through its subsidiaries, provides renal and hospital products. The Company operates through two segments: Hospital Products and Renal. Its Hospital Products business manufactures sterile intravenous (IV) solutions and administration sets, premixed drugs and drug-reconstitution systems, pre-filled vials and syringes for injectable drugs, IV nutrition products, parenteral nutrition therapies, infusion pumps, inhalation anesthetics and biosurgery products.
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