State of Michigan Retirement System increased its stake in shares of Baxter International Inc (NYSE:BAX) by 11.0% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 129,955 shares of the medical instruments supplier’s stock after buying an additional 12,833 shares during the period. State of Michigan Retirement System’s holdings in Baxter International were worth $11,189,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the stock. Pennsylvania Trust Co raised its stake in Baxter International by 1.3% in the 1st quarter. Pennsylvania Trust Co now owns 8,512 shares of the medical instruments supplier’s stock worth $691,000 after purchasing an additional 110 shares in the last quarter. Livingston Group Asset Management CO operating as Southport Capital Management increased its position in Baxter International by 0.8% during the 2nd quarter. Livingston Group Asset Management CO operating as Southport Capital Management now owns 15,147 shares of the medical instruments supplier’s stock worth $1,304,000 after purchasing an additional 115 shares in the last quarter. Kistler Tiffany Companies LLC increased its position in Baxter International by 13.5% during the 2nd quarter. Kistler Tiffany Companies LLC now owns 973 shares of the medical instruments supplier’s stock worth $84,000 after purchasing an additional 116 shares in the last quarter. Trust Co. of Toledo NA OH grew its holdings in Baxter International by 0.3% during the 1st quarter. Trust Co. of Toledo NA OH now owns 36,249 shares of the medical instruments supplier’s stock worth $2,943,000 after acquiring an additional 120 shares during the last quarter. Finally, Acorn Financial Advisory Services Inc. ADV grew its holdings in Baxter International by 3.2% during the 2nd quarter. Acorn Financial Advisory Services Inc. ADV now owns 4,431 shares of the medical instruments supplier’s stock worth $382,000 after acquiring an additional 138 shares during the last quarter. 83.74% of the stock is owned by institutional investors and hedge funds.

In other Baxter International news, SVP Andrew Frye sold 3,742 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $91.00, for a total value of $340,522.00. Following the completion of the transaction, the senior vice president now owns 16,216 shares of the company’s stock, valued at approximately $1,475,656. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Giuseppe Accogli sold 72,341 shares of the business’s stock in a transaction dated Friday, June 19th. The stock was sold at an average price of $85.00, for a total value of $6,148,985.00. Following the completion of the transaction, the senior vice president now directly owns 76,473 shares of the company’s stock, valued at approximately $6,500,205. The disclosure for this sale can be found here. In the last ninety days, insiders sold 77,583 shares of company stock valued at $6,613,932. 0.13% of the stock is owned by insiders.

Shares of BAX stock traded up $0.37 during mid-day trading on Friday, reaching $86.38. 4,038,182 shares of the company’s stock traded hands, compared to its average volume of 2,544,913. Baxter International Inc has a 12 month low of $69.10 and a 12 month high of $95.19. The company has a market cap of $43.81 billion, a P/E ratio of 26.10, a P/E/G ratio of 2.75 and a beta of 0.84. The company has a quick ratio of 2.19, a current ratio of 2.74 and a debt-to-equity ratio of 0.84. The company’s 50-day moving average price is $86.00 and its 200-day moving average price is $86.95.

Baxter International (NYSE:BAX) last posted its quarterly earnings results on Thursday, July 30th. The medical instruments supplier reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.07). The company had revenue of $2.72 billion during the quarter, compared to analysts’ expectations of $2.86 billion. Baxter International had a return on equity of 21.02% and a net margin of 8.10%. Baxter International’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.89 EPS. Equities analysts predict that Baxter International Inc will post 3.05 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Monday, August 31st will be given a $0.245 dividend. This represents a $0.98 annualized dividend and a dividend yield of 1.13%. The ex-dividend date of this dividend is Friday, August 28th. Baxter International’s dividend payout ratio is presently 29.61%.

BAX has been the topic of a number of analyst reports. TheStreet raised shares of Baxter International from a “c+” rating to a “b+” rating in a research note on Thursday, April 30th. Morgan Stanley lowered their price objective on shares of Baxter International from $95.00 to $90.00 and set an “equal weight” rating on the stock in a report on Friday. Raymond James lowered their price objective on shares of Baxter International from $97.00 to $95.00 and set an “outperform” rating on the stock in a report on Friday. Zacks Investment Research downgraded shares of Baxter International from a “hold” rating to a “sell” rating and set a $93.00 target price for the company. in a report on Tuesday, July 7th. Finally, UBS Group increased their price target on shares of Baxter International from $95.00 to $103.00 and gave the company a “buy” rating in a research report on Friday, May 1st. One analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $96.72.

Baxter International Profile

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

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