Teachers Retirement System of The State of Kentucky Sells 1,948 Shares of Baxter International Inc. (NYSE:BAX)

Teachers Retirement System of The State of Kentucky trimmed its stake in Baxter International Inc. (NYSE:BAX) by 4.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 43,512 shares of the medical instruments supplier’s stock after selling 1,948 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Baxter International were worth $1,682,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Headinvest LLC bought a new stake in shares of Baxter International during the 3rd quarter worth approximately $25,000. Bruce G. Allen Investments LLC bought a new stake in shares of Baxter International during the 4th quarter worth approximately $36,000. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Baxter International during the 4th quarter worth approximately $37,000. Hexagon Capital Partners LLC lifted its stake in shares of Baxter International by 205.4% during the 4th quarter. Hexagon Capital Partners LLC now owns 953 shares of the medical instruments supplier’s stock worth $37,000 after acquiring an additional 641 shares during the last quarter. Finally, CKW Financial Group bought a new stake in shares of Baxter International during the 4th quarter worth approximately $43,000. 90.19% of the stock is owned by institutional investors.

Baxter International Trading Up 0.9 %

Shares of NYSE:BAX opened at $34.29 on Friday. Baxter International Inc. has a 12-month low of $31.01 and a 12-month high of $50.21. The business’s fifty day simple moving average is $35.92 and its 200-day simple moving average is $38.79. The company has a market capitalization of $17.47 billion, a PE ratio of 6.59, a P/E/G ratio of 1.77 and a beta of 0.61. The company has a current ratio of 1.48, a quick ratio of 1.01 and a debt-to-equity ratio of 1.35.

Baxter International (NYSE:BAX) last announced its earnings results on Thursday, May 2nd. The medical instruments supplier reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.04. Baxter International had a return on equity of 18.47% and a net margin of 17.79%. The firm had revenue of $3.59 billion for the quarter, compared to the consensus estimate of $3.55 billion. During the same period in the previous year, the business earned $0.59 EPS. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. As a group, equities research analysts predict that Baxter International Inc. will post 2.91 earnings per share for the current fiscal year.

Baxter International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, May 31st will be paid a dividend of $0.29 per share. The ex-dividend date is Friday, May 31st. This represents a $1.16 annualized dividend and a yield of 3.38%. Baxter International’s dividend payout ratio (DPR) is 22.31%.

Wall Street Analyst Weigh In

BAX has been the subject of a number of research analyst reports. TD Cowen lowered Baxter International from a “buy” rating to a “hold” rating and set a $40.00 price target for the company. in a research note on Friday, May 10th. The Goldman Sachs Group started coverage on Baxter International in a report on Thursday, May 30th. They set a “neutral” rating and a $36.00 price objective on the stock. Bank of America raised their price objective on Baxter International from $42.00 to $45.00 and gave the stock a “neutral” rating in a report on Tuesday, March 5th. Finally, Citigroup reduced their price objective 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 given a buy rating to the stock. According to data from MarketBeat, Baxter International presently has an average rating of “Hold” and an average target price of $44.42.

About Baxter International

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.