Penobscot Investment Management Company Inc. grew its holdings in Baxter International Inc (NYSE:BAX) by 20.1% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 4,790 shares of the medical instruments supplier’s stock after buying an additional 800 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in Baxter International were worth $369,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Bridgeworth LLC purchased a new position in shares of Baxter International in the 2nd quarter valued at approximately $102,000. Migdal Insurance & Financial Holdings Ltd. lifted its stake in shares of Baxter International by 3,088.9% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,435 shares of the medical instruments supplier’s stock valued at $106,000 after purchasing an additional 1,390 shares during the period. Baker Ellis Asset Management LLC purchased a new position in shares of Baxter International in the 2nd quarter valued at approximately $111,000. Centaurus Financial Inc. purchased a new position in shares of Baxter International in the 2nd quarter valued at approximately $117,000. Finally, Whittier Trust Co. of Nevada Inc. lifted its stake in shares of Baxter International by 84.4% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,748 shares of the medical instruments supplier’s stock valued at $126,000 after purchasing an additional 800 shares during the period. Institutional investors and hedge funds own 83.08% of the company’s stock.
A number of research analysts have recently commented on BAX shares. Zacks Investment Research upgraded Baxter International from a “hold” rating to a “buy” rating and set a $87.00 target price for the company in a research note on Tuesday, September 25th. Argus restated a “hold” rating on shares of Baxter International in a research note on Tuesday, September 4th. JPMorgan Chase & Co. raised their target price on Baxter International from $80.00 to $85.00 and gave the company an “overweight” rating in a research note on Friday, July 27th. Barclays started coverage on Baxter International in a research note on Monday, October 15th. They issued an “underweight” rating and a $73.00 target price for the company. Finally, Morgan Stanley raised their target price on Baxter International from $68.00 to $75.00 and gave the company an “underweight” rating in a research note on Thursday, October 11th. Two analysts have rated the stock with a sell rating, four have given a hold rating and eleven have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $76.19.
In other Baxter International news, SVP Giuseppe Accogli sold 17,647 shares of Baxter International stock in a transaction on Monday, September 17th. The stock was sold at an average price of $77.27, for a total value of $1,363,583.69. Following the completion of the sale, the senior vice president now owns 59,452 shares of the company’s stock, valued at approximately $4,593,856.04. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Carole J. Shapazian sold 5,400 shares of Baxter International stock in a transaction on Wednesday, August 8th. The stock was sold at an average price of $72.97, for a total value of $394,038.00. Following the completion of the sale, the director now directly owns 15,248 shares of the company’s stock, valued at approximately $1,112,646.56. The disclosure for this sale can be found here. 0.05% of the stock is owned by company insiders.
BAX stock opened at $62.18 on Friday. Baxter International Inc has a twelve month low of $61.05 and a twelve month high of $78.38. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.62 and a quick ratio of 2.00. The company has a market cap of $33.40 billion, a P/E ratio of 21.48, a P/E/G ratio of 1.69 and a beta of 1.02.
Baxter International (NYSE:BAX) last posted its quarterly earnings data on Wednesday, October 31st. The medical instruments supplier reported $0.80 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.74 by $0.06. Baxter International had a return on equity of 17.72% and a net margin of 10.90%. The company had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.79 billion. During the same quarter last year, the company earned $0.64 EPS. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. Equities research analysts forecast that Baxter International Inc will post 2.99 earnings per share for the current fiscal year.
Baxter International Profile
Baxter International Inc provides a portfolio of healthcare products. The company operates through North and South America; Europe, Middle East and Africa; and Asia-Pacific segments. It 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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