Synovus Financial Corp Has $13.54 Million Position in Baxter International Inc (BAX)

Synovus Financial Corp boosted its position in Baxter International Inc (NYSE:BAX) by 1.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 209,799 shares of the medical instruments supplier’s stock after buying an additional 2,789 shares during the period. Synovus Financial Corp’s holdings in Baxter International were worth $13,540,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently bought and sold shares of the stock. Checchi Capital Advisers LLC grew its position in Baxter International by 16.5% in the 4th quarter. Checchi Capital Advisers LLC now owns 5,464 shares of the medical instruments supplier’s stock valued at $353,000 after buying an additional 774 shares during the last quarter. DnB Asset Management AS grew its position in Baxter International by 1.7% in the 4th quarter. DnB Asset Management AS now owns 54,428 shares of the medical instruments supplier’s stock valued at $3,518,000 after buying an additional 900 shares during the last quarter. Goelzer Investment Management Inc. grew its position in Baxter International by 13.6% in the 4th quarter. Goelzer Investment Management Inc. now owns 7,677 shares of the medical instruments supplier’s stock valued at $496,000 after buying an additional 922 shares during the last quarter. Delta Asset Management LLC TN grew its position in Baxter International by 0.6% in the 4th quarter. Delta Asset Management LLC TN now owns 158,724 shares of the medical instruments supplier’s stock valued at $10,259,000 after buying an additional 964 shares during the last quarter. Finally, Blackhill Capital Inc. grew its position in Baxter International by 0.7% in the 4th quarter. Blackhill Capital Inc. now owns 143,000 shares of the medical instruments supplier’s stock valued at $9,244,000 after buying an additional 1,000 shares during the last quarter. Hedge funds and other institutional investors own 84.96% of the company’s stock.

In related news, SVP Giuseppe Accogli sold 28,641 shares of the business’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $67.00, for a total value of $1,918,947.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Jeanne K. Mason sold 33,350 shares of the business’s stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $65.25, for a total transaction of $2,176,087.50. Following the completion of the sale, the senior vice president now owns 124,609 shares in the company, valued at $8,130,737.25. The disclosure for this sale can be found here. 0.05% of the stock is owned by insiders.

Shares of Baxter International Inc (NYSE:BAX) opened at $66.33 on Monday. The company has a market cap of $36,138.70, a price-to-earnings ratio of 51.42, a price-to-earnings-growth ratio of 1.91 and a beta of 0.78. Baxter International Inc has a 1 year low of $49.30 and a 1 year high of $72.58. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.22 and a current ratio of 2.80.

Baxter International (NYSE:BAX) last released its quarterly earnings data on Thursday, February 1st. The medical instruments supplier reported $0.64 EPS for the quarter, topping the consensus estimate of $0.59 by $0.05. Baxter International had a net margin of 6.79% and a return on equity of 15.12%. The business had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.77 billion. During the same period in the previous year, the firm earned $0.57 EPS. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. sell-side analysts predict that Baxter International Inc will post 2.78 earnings per share for the current fiscal year.

BAX has been the topic of a number of analyst reports. Evercore ISI initiated coverage on shares of Baxter International in a research report on Wednesday, January 3rd. They issued an “outperform” rating and a $71.00 price objective on the stock. Bank of America upgraded shares of Baxter International from a “neutral” rating to a “buy” rating in a research report on Tuesday, January 2nd. Raymond James Financial upgraded shares of Baxter International from a “market perform” rating to an “outperform” rating and set a $73.00 target price on the stock in a research report on Wednesday, January 3rd. Stifel Nicolaus restated a “hold” rating and set a $65.00 target price on shares of Baxter International in a research report on Thursday, October 26th. Finally, Zacks Investment Research lowered shares of Baxter International from a “buy” rating to a “hold” rating in a research report on Tuesday, December 26th. Seven research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. Baxter International currently has an average rating of “Buy” and a consensus price target of $70.36.

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Baxter International Company Profile

Baxter International Inc, through its subsidiaries, provides renal and hospital products. The Company operates through two segments: Hospital Products and Renal. Its Hospital Products business manufactures sterile intravenous (IV) solutions and administration sets, premixed drugs and drug-reconstitution systems, pre-filled vials and syringes for injectable drugs, IV nutrition products, parenteral nutrition therapies, infusion pumps, inhalation anesthetics and biosurgery products.

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

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