Teachers Retirement System of The State of Kentucky Has $1.44 Million Stock Holdings in Baxter International Inc. (NYSE:BAX)

Teachers Retirement System of The State of Kentucky cut its position in shares of Baxter International Inc. (NYSE:BAX) by 5.8% during the third quarter, HoldingsChannel.com reports. The firm owned 37,933 shares of the medical instruments supplier’s stock after selling 2,317 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Baxter International were worth $1,441,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of BAX. First PREMIER Bank acquired a new stake in Baxter International during the third quarter worth $25,000. Innealta Capital LLC bought a new position in shares of Baxter International during the 2nd quarter worth about $27,000. Fortitude Family Office LLC acquired a new stake in shares of Baxter International during the 3rd quarter valued at about $38,000. LRI Investments LLC increased its stake in Baxter International by 60.8% in the third quarter. LRI Investments LLC now owns 1,560 shares of the medical instruments supplier’s stock valued at $59,000 after acquiring an additional 590 shares during the period. Finally, Cromwell Holdings LLC acquired a new position in Baxter International in the third quarter worth about $62,000. 90.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. StockNews.com lowered Baxter International from a “buy” rating to a “hold” rating in a research note on Monday, November 11th. Stifel Nicolaus lowered their price target on Baxter International from $46.00 to $38.00 and set a “buy” rating on the stock in a research report on Monday, November 11th. Finally, Citigroup cut their price objective on Baxter International from $37.00 to $35.00 and set a “neutral” rating for the company in a report on Wednesday, December 11th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $40.45.

Baxter International Stock Performance

Shares of NYSE:BAX opened at $29.64 on Wednesday. The business has a fifty day moving average of $34.18 and a 200-day moving average of $35.36. The company has a debt-to-equity ratio of 1.31, a quick ratio of 1.09 and a current ratio of 1.43. Baxter International Inc. has a twelve month low of $29.15 and a twelve month high of $44.01. The firm has a market cap of $15.13 billion, a PE ratio of 148.20, a price-to-earnings-growth ratio of 12.74 and a beta of 0.57.

Baxter International (NYSE:BAX) last posted its quarterly earnings data on Friday, November 8th. The medical instruments supplier reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.02. Baxter International had a net margin of 0.77% and a return on equity of 18.30%. The firm had revenue of $3.85 billion during the quarter, compared to analysts’ expectations of $3.85 billion. During the same quarter last year, the company posted $0.68 EPS. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. On average, equities research analysts predict that Baxter International Inc. will post 1.92 EPS for the current fiscal year.

Baxter International Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, November 29th will be given a $0.17 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.68 dividend on an annualized basis and a yield of 2.29%. Baxter International’s payout ratio is 340.00%.

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.