California State Teachers Retirement System increased its holdings in shares of Baxter International Inc (NYSE:BAX) by 0.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 870,728 shares of the medical instruments supplier’s stock after buying an additional 1,100 shares during the quarter. California State Teachers Retirement System owned about 0.16% of Baxter International worth $56,284,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in BAX. Winslow Capital Management LLC purchased a new position in Baxter International during the fourth quarter worth about $178,651,000. HealthCor Management L.P. purchased a new position in Baxter International during the fourth quarter worth about $111,504,000. Amundi Pioneer Asset Management Inc. purchased a new position in Baxter International during the fourth quarter worth about $74,517,000. Renaissance Technologies LLC lifted its position in Baxter International by 217.6% during the fourth quarter. Renaissance Technologies LLC now owns 1,486,913 shares of the medical instruments supplier’s stock worth $96,114,000 after buying an additional 1,018,800 shares during the period. Finally, Old Mutual Global Investors UK Ltd. raised its holdings in shares of Baxter International by 18.1% in the 4th quarter. Old Mutual Global Investors UK Ltd. now owns 3,098,384 shares of the medical instruments supplier’s stock worth $200,279,000 after purchasing an additional 474,520 shares during the period. Hedge funds and other institutional investors own 85.56% of the company’s stock.
In other news, Director Carole J. Shapazian sold 4,990 shares of the stock in a transaction dated Friday, March 2nd. The stock was sold at an average price of $66.05, for a total value of $329,589.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Giuseppe Accogli sold 28,641 shares of the stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $67.00, for a total value of $1,918,947.00. The disclosure for this sale can be found here. 0.05% of the stock is currently owned by company insiders.
Baxter International (NYSE:BAX) last posted its earnings results on Thursday, February 1st. The medical instruments supplier reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.05. Baxter International had a return on equity of 15.11% and a net margin of 6.79%. The business had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.77 billion. During the same quarter last year, the firm earned $0.57 earnings per share. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. analysts expect that Baxter International Inc will post 2.78 EPS for the current year.
Baxter International announced that its Board of Directors has authorized a share repurchase plan on Tuesday, February 20th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the medical instruments supplier to reacquire shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Friday, March 2nd will be paid a $0.16 dividend. The ex-dividend date is Thursday, March 1st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.94%. Baxter International’s dividend payout ratio (DPR) is currently 49.61%.
A number of equities analysts have recently commented on BAX shares. Zacks Investment Research downgraded Baxter International from a “buy” rating to a “hold” rating in a report on Tuesday, December 26th. Bank of America upgraded Baxter International from a “neutral” rating to a “buy” rating in a report on Tuesday, January 2nd. Royal Bank of Canada restated a “hold” rating and issued a $72.00 price objective on shares of Baxter International in a report on Friday, February 2nd. Evercore ISI started coverage on Baxter International in a report on Wednesday, January 3rd. They issued an “outperform” rating and a $71.00 price objective on the stock. Finally, BMO Capital Markets raised their price objective on Baxter International from $74.00 to $77.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. Eight investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. Baxter International presently has an average rating of “Buy” and a consensus target price of $71.00.
WARNING: This piece of content was reported by American Banking News and is the property of of American Banking News. If you are accessing this piece of content on another domain, it was copied illegally and reposted in violation of US and international copyright and trademark legislation. The original version of this piece of content can be viewed at https://www.americanbankingnews.com/2018/03/14/baxter-international-inc-bax-position-boosted-by-california-state-teachers-retirement-system.html.
Baxter International Company 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.
Receive News & Ratings for Baxter International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Baxter International and related companies with MarketBeat.com's FREE daily email newsletter.