California Public Employees Retirement System Decreases Stock Holdings in Baxter International Inc. (NYSE:BAX)

California Public Employees Retirement System lowered its position in Baxter International Inc. (NYSE:BAX - Free Report) by 1.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,095,910 shares of the medical instruments supplier's stock after selling 55,605 shares during the period. California Public Employees Retirement System owned about 0.61% of Baxter International worth $119,688,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Headinvest LLC acquired a new position in Baxter International in the 3rd quarter worth $25,000. Bruce G. Allen Investments LLC acquired a new position in Baxter International in the 4th quarter worth $36,000. Turtle Creek Wealth Advisors LLC acquired a new position in Baxter International in the 4th quarter worth $37,000. CKW Financial Group acquired a new position in Baxter International in the 4th quarter worth $43,000. Finally, BKM Wealth Management LLC acquired a new position in Baxter International in the 4th quarter worth $44,000. Institutional investors own 90.19% of the company's stock.

Baxter International Price Performance

BAX traded down $0.09 during trading on Wednesday, hitting $40.93. 2,134,295 shares of the stock traded hands, compared to its average volume of 3,645,192. The business has a 50 day moving average price of $41.83 and a 200 day moving average price of $38.49. The company has a market cap of $20.79 billion, a price-to-earnings ratio of 7.83, a PEG ratio of 2.17 and a beta of 0.62. Baxter International Inc. has a twelve month low of $31.01 and a twelve month high of $50.21. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.48 and a quick ratio of 1.04.

Baxter International (NYSE:BAX - Get Free Report) last posted its earnings results on Thursday, February 8th. The medical instruments supplier reported $0.88 earnings per share for the quarter, topping analysts' consensus estimates of $0.86 by $0.02. The firm had revenue of $3.89 billion for the quarter, compared to analysts' expectations of $3.81 billion. Baxter International had a net margin of 17.77% and a return on equity of 19.49%. The company's revenue was up 3.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.88 earnings per share. Equities research analysts forecast that Baxter International Inc. will post 2.89 earnings per share for the current fiscal year.

Baxter International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 1st were paid a dividend of $0.29 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.83%. Baxter International's payout ratio is presently 22.22%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on BAX shares. StockNews.com upgraded shares of Baxter International from a "hold" rating to a "buy" rating in a research note on Friday, January 19th. Citigroup raised their target price on shares of Baxter International from $41.00 to $44.00 and gave the company a "neutral" rating in a research note on Wednesday, April 3rd. Bank of America raised their target price on shares of Baxter International from $42.00 to $45.00 and gave the company a "neutral" rating in a research note on Tuesday, March 5th. JPMorgan Chase & Co. raised their target price on shares of Baxter International from $38.00 to $44.00 and gave the company a "neutral" rating in a research note on Friday, February 9th. Finally, Barclays increased their price target on shares of Baxter International from $52.00 to $54.00 and gave the company an "overweight" rating in a report on Monday, February 12th. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Baxter International currently has a consensus rating of "Hold" and an average target price of $46.30.

Baxter International 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.