New York State Teachers Retirement System decreased its stake in Baxter International Inc (NYSE:BAX) by 2.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 771,755 shares of the medical instruments supplier’s stock after selling 23,076 shares during the period. New York State Teachers Retirement System’s holdings in Baxter International were worth $62,751,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Gofen & Glossberg LLC IL lifted its stake in shares of Baxter International by 6.9% in the fourth quarter. Gofen & Glossberg LLC IL now owns 15,493 shares of the medical instruments supplier’s stock worth $1,020,000 after acquiring an additional 1,004 shares in the last quarter. Round Table Services LLC lifted its stake in shares of Baxter International by 19.9% in the first quarter. Round Table Services LLC now owns 4,015 shares of the medical instruments supplier’s stock worth $326,000 after acquiring an additional 666 shares in the last quarter. First Manhattan Co. lifted its stake in shares of Baxter International by 1.6% in the first quarter. First Manhattan Co. now owns 56,186 shares of the medical instruments supplier’s stock worth $4,568,000 after acquiring an additional 893 shares in the last quarter. Westpac Banking Corp lifted its stake in shares of Baxter International by 0.7% in the fourth quarter. Westpac Banking Corp now owns 242,512 shares of the medical instruments supplier’s stock worth $15,962,000 after acquiring an additional 1,659 shares in the last quarter. Finally, Raymond James Trust N.A. lifted its stake in shares of Baxter International by 7.8% in the first quarter. Raymond James Trust N.A. now owns 15,431 shares of the medical instruments supplier’s stock worth $1,255,000 after acquiring an additional 1,114 shares in the last quarter. 86.12% of the stock is owned by institutional investors.
In other news, Director John D. Forsyth sold 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $75.92, for a total transaction of $113,880.00. Following the completion of the transaction, the director now directly owns 31,703 shares of the company’s stock, valued at $2,406,891.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas T. Stallkamp sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $75.16, for a total value of $75,160.00. Following the transaction, the director now directly owns 6,780 shares of the company’s stock, valued at $509,584.80. The disclosure for this sale can be found here. Insiders have sold 57,187 shares of company stock worth $4,447,619 in the last 90 days. 0.70% of the stock is currently owned by insiders.
NYSE BAX traded up $0.90 on Thursday, hitting $76.84. 52,184 shares of the stock traded hands, compared to its average volume of 3,043,629. Baxter International Inc has a twelve month low of $61.05 and a twelve month high of $82.25. The stock has a market capitalization of $38.49 billion, a P/E ratio of 25.18, a PEG ratio of 1.78 and a beta of 0.96. The company has a quick ratio of 1.30, a current ratio of 1.83 and a debt-to-equity ratio of 0.50.
Baxter International (NYSE:BAX) last announced its quarterly earnings data on Thursday, April 25th. The medical instruments supplier reported $0.76 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.08. Baxter International had a return on equity of 20.04% and a net margin of 14.27%. The firm had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.61 billion. During the same quarter in the prior year, the firm posted $0.70 earnings per share. Baxter International’s revenue for the quarter was down 1.7% compared to the same quarter last year. On average, analysts anticipate that Baxter International Inc will post 3.32 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 7th will be paid a dividend of $0.22 per share. The ex-dividend date is Thursday, June 6th. This represents a $0.88 annualized dividend and a yield of 1.15%. This is a boost from Baxter International’s previous quarterly dividend of $0.19. Baxter International’s dividend payout ratio is presently 24.92%.
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About Baxter International
Baxter International Inc, through its subsidiaries, develops and provides a portfolio of healthcare products. The company operates through North and South America; Europe, Middle East and Africa; and Asia-Pacific segments. The company offers peritoneal dialysis and hemodialysis, and additional dialysis therapies and services; renal replacement therapies and other organ support therapies focused in the intensive care unit; sterile intravenous (IV) solutions, IV therapies, infusion pumps, administration sets, and drug reconstitution devices; and parenteral nutrition therapies.
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