Public Employees Retirement System of Ohio Acquires Shares of 174,950 Baxter International Inc. (NYSE:BAX)

Public Employees Retirement System of Ohio bought a new stake in Baxter International Inc. (NYSE:BAX - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 174,950 shares of the medical instruments supplier's stock, valued at approximately $5,102,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Raiffeisen Bank International AG acquired a new stake in Baxter International in the fourth quarter valued at approximately $2,193,000. Mufg Securities Americas Inc. bought a new position in shares of Baxter International in the 4th quarter worth $220,000. Parkwood LLC bought a new position in shares of Baxter International in the 4th quarter worth $10,747,000. LRI Investments LLC grew its position in Baxter International by 234.2% in the 4th quarter. LRI Investments LLC now owns 5,214 shares of the medical instruments supplier's stock valued at $152,000 after purchasing an additional 3,654 shares during the period. Finally, Colonial Trust Co SC increased its stake in Baxter International by 117.7% during the 4th quarter. Colonial Trust Co SC now owns 5,090 shares of the medical instruments supplier's stock valued at $148,000 after purchasing an additional 2,752 shares in the last quarter. 90.19% of the stock is owned by institutional investors and hedge funds.

Baxter International Stock Performance

Shares of Baxter International stock traded down $0.21 during mid-day trading on Friday, hitting $30.49. 4,932,064 shares of the stock were exchanged, compared to its average volume of 4,473,048. Baxter International Inc. has a 12 month low of $26.25 and a 12 month high of $40.49. The company has a 50-day simple moving average of $30.49 and a 200 day simple moving average of $31.50. The company has a market capitalization of $15.65 billion, a P/E ratio of -23.82, a P/E/G ratio of 0.93 and a beta of 0.63. The company has a debt-to-equity ratio of 1.31, a quick ratio of 1.09 and a current ratio of 1.43.

Baxter International (NYSE:BAX - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The medical instruments supplier reported $0.62 EPS for the quarter, topping analysts' consensus estimates of $0.48 by $0.14. Baxter International had a positive return on equity of 16.67% and a negative net margin of 5.05%. The business had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.59 billion. During the same period last year, the company posted $0.65 earnings per share. Baxter International's quarterly revenue was up 5.4% compared to the same quarter last year. Sell-side analysts anticipate that Baxter International Inc. will post 2.48 earnings per share for the current fiscal year.

Baxter International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, May 30th will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date is Friday, May 30th. Baxter International's dividend payout ratio (DPR) is currently -61.82%.

Wall Street Analyst Weigh In

BAX has been the topic of a number of recent research reports. Argus raised shares of Baxter International from a "hold" rating to a "buy" rating in a research note on Monday, February 24th. The Goldman Sachs Group started coverage on shares of Baxter International in a research report on Wednesday, February 26th. They issued a "buy" rating and a $42.00 price target on the stock. Morgan Stanley decreased their price objective on Baxter International from $30.00 to $28.00 and set an "underweight" rating for the company in a report on Monday, May 5th. Wells Fargo & Company dropped their target price on Baxter International from $36.00 to $33.00 and set an "equal weight" rating on the stock in a report on Friday, May 2nd. Finally, Barclays lifted their target price on Baxter International from $39.00 to $41.00 and gave the company an "overweight" rating in a research report on Monday, March 10th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $37.25.

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.