Public Employees Retirement Association of Colorado Acquires 45,268 Shares of Baxter International Inc. (NYSE:BAX)

Public Employees Retirement Association of Colorado boosted its holdings in Baxter International Inc. (NYSE:BAXFree Report) by 357.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 57,934 shares of the medical instruments supplier’s stock after purchasing an additional 45,268 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Baxter International were worth $2,240,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Pzena Investment Management LLC purchased a new stake in shares of Baxter International during the 3rd quarter worth approximately $215,935,000. Carmignac Gestion raised its holdings in shares of Baxter International by 467.0% during the 3rd quarter. Carmignac Gestion now owns 4,848,773 shares of the medical instruments supplier’s stock worth $182,992,000 after acquiring an additional 3,993,537 shares in the last quarter. Shapiro Capital Management LLC purchased a new stake in shares of Baxter International during the 3rd quarter worth approximately $114,307,000. Ameriprise Financial Inc. raised its holdings in shares of Baxter International by 11.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 10,836,563 shares of the medical instruments supplier’s stock worth $408,992,000 after acquiring an additional 1,098,787 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in shares of Baxter International by 79.9% during the 4th quarter. Russell Investments Group Ltd. now owns 1,121,434 shares of the medical instruments supplier’s stock worth $43,357,000 after acquiring an additional 498,007 shares in the last quarter. 90.19% of the stock is currently owned by institutional investors.

Baxter International Stock Performance

BAX stock opened at $33.16 on Monday. The company has a quick ratio of 1.01, a current ratio of 1.48 and a debt-to-equity ratio of 1.35. The business’s fifty day simple moving average is $37.69 and its two-hundred day simple moving average is $38.99. Baxter International Inc. has a twelve month low of $31.01 and a twelve month high of $50.21. The firm has a market cap of $16.90 billion, a price-to-earnings ratio of 6.38, a PEG ratio of 1.73 and a beta of 0.61.

Baxter International (NYSE:BAXGet Free Report) last released its earnings results on Thursday, May 2nd. The medical instruments supplier reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.04. Baxter International had a return on equity of 18.47% and a net margin of 17.79%. The business had revenue of $3.59 billion for the quarter, compared to analyst estimates of $3.55 billion. During the same quarter last year, the firm posted $0.59 earnings per share. The business’s revenue was down 1.6% compared to the same quarter last year. Analysts predict that Baxter International Inc. will post 2.91 earnings per share for the current year.

Baxter International Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, May 31st will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.50%. The ex-dividend date of this dividend is Friday, May 31st. Baxter International’s payout ratio is 22.31%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on BAX. TD Cowen cut Baxter International from a “buy” rating to a “hold” rating and set a $40.00 price objective on the stock. in a report on Friday, May 10th. Barclays increased their price target on Baxter International from $52.00 to $54.00 and gave the company an “overweight” rating in a report on Monday, February 12th. The Goldman Sachs Group began coverage on Baxter International in a report on Thursday, May 30th. They set a “neutral” rating and a $36.00 price target on the stock. Bank of America increased their price target on Baxter International from $42.00 to $45.00 and gave the company a “neutral” rating in a report on Tuesday, March 5th. Finally, Citigroup decreased their price target on Baxter International from $44.00 to $38.00 and set a “neutral” rating on the stock in a report on Wednesday, May 22nd. Nine investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $44.42.

Read Our Latest Research Report on Baxter International

Baxter International Profile

(Free Report)

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.

See Also

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

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