New York State Common Retirement Fund Buys 147,155 Shares of Baxter International Inc. (NYSE:BAX)

New York State Common Retirement Fund boosted its holdings in Baxter International Inc. (NYSE:BAX - Free Report) by 30.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 623,403 shares of the medical instruments supplier's stock after acquiring an additional 147,155 shares during the quarter. New York State Common Retirement Fund owned 0.12% of Baxter International worth $21,339,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Rossby Financial LCC bought a new position in Baxter International during the 1st quarter valued at $29,000. CoreFirst Bank & Trust bought a new position in Baxter International during the 4th quarter valued at $26,000. MassMutual Private Wealth & Trust FSB boosted its stake in Baxter International by 48.1% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 2,021 shares of the medical instruments supplier's stock valued at $69,000 after purchasing an additional 656 shares in the last quarter. Bruce G. Allen Investments LLC boosted its stake in Baxter International by 35.2% during the 1st quarter. Bruce G. Allen Investments LLC now owns 3,546 shares of the medical instruments supplier's stock valued at $121,000 after purchasing an additional 924 shares in the last quarter. Finally, Private Trust Co. NA boosted its stake in shares of Baxter International by 17.3% during the 1st quarter. Private Trust Co. NA now owns 3,822 shares of the medical instruments supplier's stock worth $131,000 after acquiring an additional 565 shares in the last quarter. 90.19% of the stock is owned by institutional investors.

Baxter International Stock Up 0.4%

Shares of Baxter International stock traded up $0.12 during midday trading on Wednesday, hitting $28.37. The company's stock had a trading volume of 4,832,361 shares, compared to its average volume of 4,382,362. The firm has a market capitalization of $14.56 billion, a P/E ratio of -25.79, a PEG ratio of 0.84 and a beta of 0.61. Baxter International Inc. has a 1-year low of $26.25 and a 1-year high of $40.49. The company has a quick ratio of 1.40, a current ratio of 2.02 and a debt-to-equity ratio of 1.33. The stock has a 50-day simple moving average of $30.48 and a 200-day simple moving average of $31.24.

Baxter International (NYSE:BAX - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The medical instruments supplier reported $0.62 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.48 by $0.14. The firm had revenue of $2.63 billion during the quarter, compared to analysts' expectations of $2.59 billion. Baxter International had a positive return on equity of 17.24% and a negative net margin of 4.71%. The business's revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.65 earnings per share. As a group, sell-side analysts expect that Baxter International Inc. will post 2.48 earnings per share for the current year.

Baxter International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, August 29th will be issued a dividend of $0.17 per share. The ex-dividend date is Friday, August 29th. This represents a $0.68 annualized dividend and a yield of 2.40%. Baxter International's dividend payout ratio (DPR) is currently -61.82%.

Wall Street Analysts Forecast Growth

BAX has been the subject of several research reports. Wall Street Zen raised Baxter International from a "hold" rating to a "buy" rating in a research note on Sunday, June 22nd. Evercore ISI reduced their price objective on Baxter International from $44.00 to $42.00 and set an "outperform" rating for the company in a research note on Tuesday, July 8th. Wells Fargo & Company decreased their target price on Baxter International from $36.00 to $33.00 and set an "equal weight" rating for the company in a research report on Friday, May 2nd. Morgan Stanley decreased their target price on Baxter International from $28.00 to $27.00 and set an "underweight" rating for the company in a research report on Tuesday. Finally, Citigroup decreased their target price on Baxter International from $34.00 to $32.00 and set a "neutral" rating for the company in a research report on Wednesday, July 9th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $36.38.

Baxter International Company Profile

Baxter International Inc, through its subsidiaries, develops and provides a portfolio of healthcare products worldwide. The company operates through four segments: Medical Products and Therapies, Healthcare Systems and Technologies, Pharmaceuticals, and Kidney Care. The company offers sterile intravenous (IV) solutions; infusion systems and devices; parenteral nutrition therapies; generic injectable pharmaceuticals; surgical hemostat and sealant products, advanced surgical equipment; smart bed systems; patient monitoring and diagnostic technologies; and respiratory health devices, as well as advanced equipment for the surgical space, including surgical video technologies, precision positioning devices, and other accessories.