OLD Point Trust & Financial Services N A Cuts Stake in Baxter International Inc (BAX)

OLD Point Trust & Financial Services N A decreased its stake in shares of Baxter International Inc (NYSE:BAX) by 4.0% during the third quarter, HoldingsChannel reports. The firm owned 33,282 shares of the medical instruments supplier’s stock after selling 1,375 shares during the quarter. OLD Point Trust & Financial Services N A’s holdings in Baxter International were worth $2,565,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in BAX. Bridgeworth LLC bought a new stake in shares of Baxter International during the 2nd quarter valued at about $102,000. Migdal Insurance & Financial Holdings Ltd. boosted its stake in shares of Baxter International by 3,088.9% during 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 in the last quarter. Baker Ellis Asset Management LLC bought a new stake in shares of Baxter International during the 2nd quarter valued at about $111,000. Centaurus Financial Inc. bought a new stake in shares of Baxter International during the 2nd quarter valued at about $117,000. Finally, Whittier Trust Co. of Nevada Inc. boosted its stake in shares of Baxter International by 84.4% during 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 in the last quarter. 82.28% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE BAX opened at $62.50 on Tuesday. Baxter International Inc has a 1 year low of $61.05 and a 1 year high of $78.38. The stock has a market cap of $33.22 billion, a P/E ratio of 25.20, a price-to-earnings-growth ratio of 1.67 and a beta of 1.02. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.62 and a quick ratio of 2.00.

Baxter International (NYSE:BAX) last issued its quarterly earnings results on Wednesday, October 31st. The medical instruments supplier reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.06. Baxter International had a net margin of 10.90% and a return on equity of 17.72%. The company had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.79 billion. During the same period last year, the company posted $0.64 EPS. Baxter International’s revenue was up 2.2% on a year-over-year basis. As a group, research analysts forecast that Baxter International Inc will post 2.99 earnings per share for the current fiscal year.

BAX has been the topic of a number of research reports. Zacks Investment Research raised shares of Baxter International from a “hold” rating to a “buy” rating and set a $87.00 target price on the stock in a research note on Tuesday, September 25th. Argus reissued a “hold” rating on shares of Baxter International in a research report on Tuesday, September 4th. Barclays began coverage on shares of Baxter International in a research report on Monday, October 15th. They set an “underweight” rating and a $73.00 price target for the company. Morgan Stanley lifted their price target on shares of Baxter International from $68.00 to $75.00 and gave the company an “underweight” rating in a research report on Thursday, October 11th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Baxter International from $80.00 to $85.00 and gave the company an “overweight” rating in a research report on Friday, July 27th. Two analysts have rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the company’s stock. Baxter International currently has a consensus rating of “Buy” and a consensus price target of $75.63.

In other Baxter International news, SVP Giuseppe Accogli sold 17,647 shares of Baxter International stock in a transaction dated 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 completion of the transaction, the senior vice president now directly owns 59,452 shares of the company’s stock, valued at $4,593,856.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Carole J. Shapazian sold 5,400 shares of Baxter International stock in a transaction dated 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 directly owns 15,248 shares of the company’s stock, valued at $1,112,646.56. The disclosure for this sale can be found here. 0.07% of the stock is currently owned by insiders.

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About Baxter International

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

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