California State Teachers Retirement System Lowers Stake in Baxter International Inc. (BAX)

California State Teachers Retirement System reduced its stake in shares of Baxter International Inc. (NYSE:BAX) by 7.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 945,464 shares of the medical instruments supplier’s stock after selling 75,486 shares during the period. California State Teachers Retirement System owned approximately 0.17% of Baxter International worth $57,239,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of BAX. Levin Capital Strategies L.P. lifted its stake in shares of Baxter International by 2.4% during the first quarter. Levin Capital Strategies L.P. now owns 59,879 shares of the medical instruments supplier’s stock worth $3,105,000 after buying an additional 1,400 shares during the period. GHP Investment Advisors Inc. lifted its stake in shares of Baxter International by 1.7% during the first quarter. GHP Investment Advisors Inc. now owns 12,979 shares of the medical instruments supplier’s stock worth $673,000 after buying an additional 215 shares during the period. Hillsdale Investment Management Inc. lifted its stake in shares of Baxter International by 3.1% during the first quarter. Hillsdale Investment Management Inc. now owns 6,700 shares of the medical instruments supplier’s stock worth $347,000 after buying an additional 200 shares during the period. Northwestern Mutual Investment Management Company LLC lifted its stake in shares of Baxter International by 74.8% during the first quarter. Northwestern Mutual Investment Management Company LLC now owns 98,256 shares of the medical instruments supplier’s stock worth $5,096,000 after buying an additional 42,044 shares during the period. Finally, South State Corp lifted its stake in shares of Baxter International by 1.8% during the first quarter. South State Corp now owns 9,395 shares of the medical instruments supplier’s stock worth $487,000 after buying an additional 165 shares during the period. Institutional investors and hedge funds own 83.62% of the company’s stock.

In other news, Director Thomas T. Stallkamp sold 8,920 shares of the firm’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $62.28, for a total value of $555,537.60. Following the completion of the sale, the director now owns 16,263 shares in the company, valued at approximately $1,012,859.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Giuseppe Accogli sold 12,670 shares of the firm’s stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $60.96, for a total transaction of $772,363.20. Following the completion of the sale, the senior vice president now owns 33,286 shares of the company’s stock, valued at approximately $2,029,114.56. The disclosure for this sale can be found here. Insiders sold a total of 35,050 shares of company stock valued at $2,158,587 in the last 90 days. Company insiders own 0.05% of the company’s stock.

Several equities research analysts have recently commented on the stock. BidaskClub upgraded shares of Baxter International from a “buy” rating to a “strong-buy” rating in a research note on Monday, August 14th. Zacks Investment Research downgraded shares of Baxter International from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Barclays PLC boosted their target price on shares of Baxter International from $64.00 to $70.00 and gave the company an “overweight” rating in a research report on Thursday, July 27th. Cowen and Company restated a “market perform” rating and set a $66.00 target price (up from $57.00) on shares of Baxter International in a research report on Monday, July 10th. Finally, Royal Bank Of Canada restated a “hold” rating and set a $60.00 target price on shares of Baxter International in a research report on Tuesday, October 3rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $65.69.

Baxter International Inc. (BAX) traded up 0.53% on Wednesday, reaching $62.04. 294,902 shares of the company’s stock were exchanged. The firm has a 50-day moving average price of $62.78 and a 200-day moving average price of $59.18. Baxter International Inc. has a 1-year low of $43.13 and a 1-year high of $64.75. The company has a market capitalization of $33.80 billion, a P/E ratio of 35.86 and a beta of 0.65.

Baxter International (NYSE:BAX) last released its earnings results on Wednesday, July 26th. The medical instruments supplier reported $0.63 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.06. Baxter International had a net margin of 8.85% and a return on equity of 14.82%. The company had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $2.59 billion. During the same quarter last year, the business earned $0.46 EPS. The business’s revenue was up .8% on a year-over-year basis. Equities research analysts expect that Baxter International Inc. will post $2.39 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Friday, September 1st were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.04%. The ex-dividend date was Wednesday, August 30th. Baxter International’s dividend payout ratio (DPR) is presently 38.79%.

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Baxter International Profile

Baxter International Inc, through its subsidiaries, provides renal and hospital products. The Company operates through two segments: Hospital Products and Renal. Its Hospital Products business manufactures sterile intravenous (IV) solutions and administration sets, premixed drugs and drug-reconstitution systems, pre-filled vials and syringes for injectable drugs, IV nutrition products, parenteral nutrition therapies, infusion pumps, inhalation anesthetics and biosurgery products.

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

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