New York State Common Retirement Fund reduced its position in shares of Baxter International Inc. (NYSE:BAX) by 9.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,650,462 shares of the medical instruments supplier’s stock after selling 180,061 shares during the period. New York State Common Retirement Fund owned 0.30% of Baxter International worth $103,566,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the company. Meag Munich Ergo Kapitalanlagegesellschaft MBH lifted its holdings in Baxter International by 123.3% in the third quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 154,932 shares of the medical instruments supplier’s stock worth $9,688,000 after buying an additional 85,537 shares during the period. Bessemer Group Inc. grew its position in Baxter International by 1.4% in the 3rd quarter. Bessemer Group Inc. now owns 4,717,899 shares of the medical instruments supplier’s stock worth $296,048,000 after purchasing an additional 64,949 shares during the period. Advantus Capital Management Inc grew its position in Baxter International by 2.7% in the 3rd quarter. Advantus Capital Management Inc now owns 50,457 shares of the medical instruments supplier’s stock worth $3,166,000 after purchasing an additional 1,306 shares during the period. Oregon Public Employees Retirement Fund grew its position in Baxter International by 0.9% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 121,096 shares of the medical instruments supplier’s stock worth $7,599,000 after purchasing an additional 1,135 shares during the period. Finally, Blackhill Capital Inc. grew its position in Baxter International by 24.7% in the 3rd quarter. Blackhill Capital Inc. now owns 142,000 shares of the medical instruments supplier’s stock worth $8,911,000 after purchasing an additional 28,100 shares during the period. Institutional investors own 83.58% of the company’s stock.

Several research analysts have recently weighed in on the stock. Stifel Nicolaus reiterated a “hold” rating and set a $65.00 price target on shares of Baxter International in a research note on Thursday, October 26th. Barclays lifted their price target on shares of Baxter International from $70.00 to $73.00 and gave the stock an “overweight” rating in a research note on Thursday, October 26th. Morgan Stanley lifted their price target on shares of Baxter International from $59.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 26th. Royal Bank Of Canada reiterated a “hold” rating and set a $66.00 price target on shares of Baxter International in a research note on Wednesday, November 22nd. Finally, Zacks Investment Research upgraded shares of Baxter International from a “hold” rating to a “buy” rating and set a $72.00 price target on the stock in a research note on Tuesday, October 24th. Seven research analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $67.46.

In other Baxter International news, Director Thomas T. Stallkamp sold 8,920 shares of the business’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $62.28, for a total value of $555,537.60. Following the sale, the director now owns 16,263 shares in the company, valued at approximately $1,012,859.64. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Third Point Llc sold 5,000,000 shares of the business’s stock in a transaction on Monday, November 6th. The stock was sold at an average price of $64.23, for a total transaction of $321,150,000.00. The disclosure for this sale can be found here. 0.05% of the stock is currently owned by insiders.

Baxter International Inc. (NYSE:BAX) opened at $65.49 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.22 and a current ratio of 2.80. Baxter International Inc. has a one year low of $43.13 and a one year high of $66.18. The firm has a market cap of $35,681.04, a price-to-earnings ratio of 27.06, a P/E/G ratio of 2.19 and a beta of 0.69.

Baxter International (NYSE:BAX) last released its earnings results on Wednesday, October 25th. The medical instruments supplier reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.05. Baxter International had a net margin of 9.88% and a return on equity of 15.00%. The company had revenue of $2.71 billion for the quarter, compared to analysts’ expectations of $2.66 billion. During the same quarter in the previous year, the company earned $0.56 EPS. Baxter International’s revenue for the quarter was up 5.8% on a year-over-year basis. research analysts expect that Baxter International Inc. will post 2.43 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 1st will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date of this dividend is Thursday, November 30th. Baxter International’s dividend payout ratio (DPR) is 34.41%.

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About Baxter International

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.

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

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