Boston Common Asset Management LLC trimmed its position in Baxter International Inc (NYSE:BAX) by 4.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 78,791 shares of the medical instruments supplier’s stock after selling 3,655 shares during the period. Boston Common Asset Management LLC’s holdings in Baxter International were worth $6,074,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in BAX. Gulf International Bank UK Ltd boosted its holdings in Baxter International by 6.6% in the 2nd quarter. Gulf International Bank UK Ltd now owns 164,102 shares of the medical instruments supplier’s stock valued at $12,117,000 after purchasing an additional 10,160 shares during the period. DnB Asset Management AS lifted its holdings in shares of Baxter International by 11.8% during the 2nd quarter. DnB Asset Management AS now owns 65,328 shares of the medical instruments supplier’s stock worth $4,824,000 after acquiring an additional 6,900 shares during the last quarter. Cape Cod Five Cents Savings Bank bought a new stake in shares of Baxter International during the 2nd quarter worth $238,000. IFM Investors Pty Ltd lifted its holdings in shares of Baxter International by 52.5% during the 2nd quarter. IFM Investors Pty Ltd now owns 23,119 shares of the medical instruments supplier’s stock worth $1,707,000 after acquiring an additional 7,958 shares during the last quarter. Finally, Fulton Bank N.A. lifted its holdings in shares of Baxter International by 23.7% during the 2nd quarter. Fulton Bank N.A. now owns 5,374 shares of the medical instruments supplier’s stock worth $397,000 after acquiring an additional 1,029 shares during the last quarter. 83.08% of the stock is owned by hedge funds and other institutional investors.
A number of analysts have recently issued reports on BAX shares. Piper Jaffray Companies lifted their price objective on shares of Baxter International from $77.00 to $83.00 and gave the stock an “overweight” rating in a report on Friday, July 27th. Leerink Swann dropped their price objective on shares of Baxter International from $90.00 to $77.00 and set an “outperform” rating for the company in a report on Thursday. Argus raised shares of Baxter International from a “hold” rating to a “buy” rating and set a $70.00 price objective for the company in a report on Friday. Wells Fargo & Co dropped their price objective on shares of Baxter International from $82.00 to $72.00 and set an “outperform” rating for the company in a report on Thursday. Finally, BMO Capital Markets dropped their price objective on shares of Baxter International from $86.00 to $76.00 and set an “outperform” rating for the company in a report on Thursday. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $76.19.
In related news, SVP Giuseppe Accogli sold 17,647 shares of Baxter International stock in a transaction on Monday, September 17th. The shares were sold at an average price of $77.27, for a total value of $1,363,583.69. Following the transaction, the senior vice president now owns 59,452 shares in the company, valued at approximately $4,593,856.04. The sale was disclosed in a filing with the SEC, which is available 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 transaction of $394,038.00. Following the completion of the transaction, the director now owns 15,248 shares in the company, 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.
Shares of NYSE:BAX opened at $62.18 on Friday. The firm has a market capitalization of $33.22 billion, a P/E ratio of 21.37, a price-to-earnings-growth ratio of 1.68 and a beta of 1.02. Baxter International Inc has a 52 week low of $61.05 and a 52 week high of $78.38. The company has a debt-to-equity ratio of 0.39, a quick ratio of 2.00 and a current ratio of 2.62.
Baxter International (NYSE:BAX) last issued its earnings results on Wednesday, October 31st. The medical instruments supplier reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.06. The company had revenue of $2.77 billion for the quarter, compared to analysts’ expectations of $2.79 billion. Baxter International had a net margin of 10.90% and a return on equity of 17.72%. The firm’s revenue was up 2.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.64 EPS. As a group, equities 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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