New York State Teachers Retirement System Sells 31,888 Shares of Baxter International Inc. (NYSE:BAX)

New York State Teachers Retirement System reduced its holdings in shares of Baxter International Inc. (NYSE:BAX - Free Report) by 7.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 376,293 shares of the medical instruments supplier's stock after selling 31,888 shares during the period. New York State Teachers Retirement System owned about 0.07% of Baxter International worth $12,881,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in BAX. CoreFirst Bank & Trust purchased a new stake in shares of Baxter International in the 4th quarter worth $26,000. MassMutual Private Wealth & Trust FSB increased its position in Baxter International by 48.1% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 2,021 shares of the medical instruments supplier's stock worth $69,000 after buying an additional 656 shares in the last quarter. Farther Finance Advisors LLC raised its stake in shares of Baxter International by 61.2% in the fourth quarter. Farther Finance Advisors LLC now owns 4,060 shares of the medical instruments supplier's stock worth $118,000 after buying an additional 1,541 shares during the period. Bruce G. Allen Investments LLC raised its stake in shares of Baxter International by 35.2% in the first quarter. Bruce G. Allen Investments LLC now owns 3,546 shares of the medical instruments supplier's stock worth $121,000 after buying an additional 924 shares during the period. Finally, Parallel Advisors LLC lifted its position in shares of Baxter International by 58.7% during the 1st quarter. Parallel Advisors LLC now owns 4,059 shares of the medical instruments supplier's stock valued at $139,000 after buying an additional 1,502 shares in the last quarter. 90.19% of the stock is currently owned by institutional investors.

Baxter International Stock Performance

Shares of NYSE BAX opened at $31.08 on Friday. The company has a market cap of $15.95 billion, a P/E ratio of -28.25, a P/E/G ratio of 0.92 and a beta of 0.61. Baxter International Inc. has a 52-week low of $26.25 and a 52-week high of $40.49. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.40 and a current ratio of 2.02. The firm's fifty day moving average is $30.65 and its two-hundred day moving average is $31.21.

Baxter International (NYSE:BAX - Get Free Report) last issued its earnings results on Thursday, May 1st. The medical instruments supplier reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.14. Baxter International had a positive return on equity of 17.24% and a negative net margin of 4.71%. The firm had revenue of $2.63 billion for the quarter, compared to analysts' expectations of $2.59 billion. During the same period in the previous year, the firm posted $0.65 earnings per share. The business's revenue was up 5.4% compared to the same quarter last year. As a group, analysts anticipate that Baxter International Inc. will post 2.48 EPS for the current fiscal year.

Baxter International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Friday, May 30th were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date of this dividend was Friday, May 30th. Baxter International's dividend payout ratio (DPR) is presently -61.82%.

Analysts Set New Price Targets

BAX has been the topic of a number of recent analyst reports. Wells Fargo & Company decreased their target price on shares of Baxter International from $36.00 to $33.00 and set an "equal weight" rating on the stock in a research note on Friday, May 2nd. Wall Street Zen upgraded shares of Baxter International from a "hold" rating to a "buy" rating in a research report on Sunday, June 22nd. Barclays upped their target price on shares of Baxter International from $39.00 to $41.00 and gave the stock an "overweight" rating in a report on Monday, March 10th. Finally, Morgan Stanley decreased their price target on Baxter International from $30.00 to $28.00 and set an "underweight" rating on the stock in a report on Monday, May 5th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $36.14.

About Baxter International

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.

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