State of Alaska Department of Revenue trimmed its stake in Baxter International Inc (NYSE:BAX) by 13.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 98,826 shares of the medical instruments supplier’s stock after selling 14,888 shares during the period. State of Alaska Department of Revenue’s holdings in Baxter International were worth $8,033,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in BAX. Norges Bank bought a new stake in Baxter International in the fourth quarter valued at $549,458,000. Morgan Stanley grew its position in Baxter International by 267.9% in the third quarter. Morgan Stanley now owns 10,570,520 shares of the medical instruments supplier’s stock valued at $814,880,000 after acquiring an additional 7,697,267 shares during the period. Oregon Public Employees Retirement Fund grew its position in Baxter International by 6,487.4% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,555,596 shares of the medical instruments supplier’s stock valued at $54,000 after acquiring an additional 3,501,620 shares during the period. Standard Life Aberdeen plc grew its position in Baxter International by 121.2% in the third quarter. Standard Life Aberdeen plc now owns 5,743,738 shares of the medical instruments supplier’s stock valued at $442,813,000 after acquiring an additional 3,146,868 shares during the period. Finally, State of Tennessee Treasury Department grew its position in Baxter International by 460.8% in the fourth quarter. State of Tennessee Treasury Department now owns 935,648 shares of the medical instruments supplier’s stock valued at $61,584,000 after acquiring an additional 768,804 shares during the period. Hedge funds and other institutional investors own 86.41% of the company’s stock.

BAX has been the topic of a number of analyst reports. Zacks Investment Research upgraded Baxter International from a “hold” rating to a “buy” rating and set a $74.00 price target on the stock in a research report on Wednesday, January 2nd. Citigroup upgraded Baxter International from a “neutral” rating to a “buy” rating and upped their price target for the company from $69.00 to $76.00 in a research report on Wednesday, January 2nd. Barclays upgraded Baxter International from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $67.00 to $72.00 in a research report on Friday, February 1st. Credit Suisse Group initiated coverage on Baxter International in a research report on Monday, December 17th. They issued an “outperform” rating and a $77.00 price target on the stock. Finally, Wells Fargo & Co upped their price target on Baxter International from $80.00 to $89.00 and gave the company an “outperform” rating in a research report on Wednesday, April 3rd. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $78.13.

In other news, Director Thomas T. Stallkamp sold 3,187 shares of the stock in a transaction on Friday, January 18th. The stock was sold at an average price of $70.00, for a total transaction of $223,090.00. Following the sale, the director now owns 9,418 shares in the company, valued at $659,260. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Thomas T. Stallkamp sold 1,638 shares of the firm’s stock in a transaction dated Friday, February 1st. The shares were sold at an average price of $73.75, for a total value of $120,802.50. The disclosure for this sale can be found here. Insiders have sold 98,286 shares of company stock worth $7,399,039 in the last 90 days. Company insiders own 0.70% of the company’s stock.

Shares of BAX stock opened at $80.16 on Thursday. The company has a current ratio of 2.09, a quick ratio of 1.50 and a debt-to-equity ratio of 0.44. The firm has a market cap of $40.93 billion, a PE ratio of 26.28, a price-to-earnings-growth ratio of 1.94 and a beta of 1.02. Baxter International Inc has a 52 week low of $61.05 and a 52 week high of $82.25.

Baxter International (NYSE:BAX) last announced its earnings results on Thursday, January 31st. The medical instruments supplier reported $0.78 EPS for the quarter, topping the consensus estimate of $0.73 by $0.05. The company had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $2.80 billion. Baxter International had a return on equity of 19.10% and a net margin of 14.60%. As a group, equities analysts predict that Baxter International Inc will post 3.27 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 1st were issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 0.95%. The ex-dividend date was Thursday, February 28th. Baxter International’s payout ratio is presently 24.92%.

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About Baxter International

Baxter International Inc, through its subsidiaries, develops and provides a portfolio of healthcare products. The company operates through North and South America; Europe, Middle East and Africa; and Asia-Pacific segments. The company offers peritoneal dialysis and hemodialysis, and additional dialysis therapies and services; renal replacement therapies and other organ support therapies focused in the intensive care unit; sterile intravenous (IV) solutions, IV therapies, infusion pumps, administration sets, and drug reconstitution devices; and parenteral nutrition therapies.

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

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