Wells Fargo & Company MN cut its stake in shares of Baxter International Inc (NYSE:BAX) by 29.0% in the third quarter, HoldingsChannel.com reports. The fund owned 4,065,336 shares of the medical instruments supplier’s stock after selling 1,660,794 shares during the period. Wells Fargo & Company MN’s holdings in Baxter International were worth $313,396,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently made changes to their positions in the company. Natixis grew its stake in shares of Baxter International by 62.5% during the 2nd quarter. Natixis now owns 716,411 shares of the medical instruments supplier’s stock valued at $52,900,000 after acquiring an additional 275,452 shares during the period. AMP Capital Investors Ltd grew its stake in shares of Baxter International by 1.5% during the 2nd quarter. AMP Capital Investors Ltd now owns 267,439 shares of the medical instruments supplier’s stock valued at $19,749,000 after acquiring an additional 3,839 shares during the period. First Hawaiian Bank bought a new position in shares of Baxter International during the 3rd quarter valued at approximately $1,639,000. Putnam Investments LLC grew its stake in shares of Baxter International by 33.9% during the 2nd quarter. Putnam Investments LLC now owns 1,330,139 shares of the medical instruments supplier’s stock valued at $98,217,000 after acquiring an additional 336,950 shares during the period. Finally, Swiss National Bank grew its stake in shares of Baxter International by 6.1% during the 2nd quarter. Swiss National Bank now owns 2,191,439 shares of the medical instruments supplier’s stock valued at $161,816,000 after acquiring an additional 125,700 shares during the period. Institutional investors own 82.28% of the company’s stock.
Several research analysts have weighed in on the company. ValuEngine downgraded Baxter International from a “buy” rating to a “hold” rating in a research note on Thursday, November 1st. JPMorgan Chase & Co. upped their price target on Baxter International from $80.00 to $85.00 and gave the stock an “overweight” rating in a research note on Friday, July 27th. Citigroup upped their price target on Baxter International from $74.00 to $76.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 31st. Morgan Stanley upped their price target on Baxter International from $68.00 to $75.00 and gave the stock an “underweight” rating in a research note on Thursday, October 11th. Finally, Zacks Investment Research downgraded Baxter International from a “buy” rating to a “hold” rating in a research note on Tuesday, July 24th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $75.63.
In other news, SVP Giuseppe Accogli sold 17,647 shares of the company’s stock in a transaction that occurred on Monday, September 17th. The stock was sold at an average price of $77.27, for a total transaction of $1,363,583.69. Following the sale, the senior vice president now directly owns 59,452 shares of the company’s stock, valued at approximately $4,593,856.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.07% of the stock is owned by corporate insiders.
BAX stock opened at $63.43 on Wednesday. Baxter International Inc has a 1-year low of $61.05 and a 1-year high of $78.38. The company has a quick ratio of 2.00, a current ratio of 2.62 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $33.22 billion, a price-to-earnings ratio of 25.58, a price-to-earnings-growth ratio of 1.67 and a beta of 1.02.
Baxter International (NYSE:BAX) last issued its quarterly earnings data on Wednesday, October 31st. The medical instruments supplier reported $0.80 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.74 by $0.06. The business had revenue of $2.77 billion for the quarter, compared to analysts’ expectations of $2.79 billion. Baxter International had a return on equity of 17.72% and a net margin of 10.90%. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.64 EPS. On average, sell-side analysts expect that Baxter International Inc will post 3 EPS for the current fiscal year.
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Baxter International Company 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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