Cullen Frost Bankers Inc. Reduces Stock Position in Baxter International Inc (NYSE:BAX)

Cullen Frost Bankers Inc. reduced its holdings in Baxter International Inc (NYSE:BAX) by 4.3% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 12,547 shares of the medical instruments supplier’s stock after selling 562 shares during the period. Cullen Frost Bankers Inc.’s holdings in Baxter International were worth $1,098,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of BAX. Beese Fulmer Investment Management Inc. lifted its holdings in Baxter International by 0.9% during the 3rd quarter. Beese Fulmer Investment Management Inc. now owns 67,068 shares of the medical instruments supplier’s stock valued at $5,866,000 after buying an additional 597 shares in the last quarter. First Mercantile Trust Co. bought a new stake in Baxter International during the 3rd quarter valued at about $2,640,000. Moloney Securities Asset Management LLC lifted its holdings in Baxter International by 9.7% during the 3rd quarter. Moloney Securities Asset Management LLC now owns 3,079 shares of the medical instruments supplier’s stock valued at $269,000 after buying an additional 272 shares in the last quarter. First National Trust Co lifted its holdings in Baxter International by 4.0% during the 3rd quarter. First National Trust Co now owns 59,855 shares of the medical instruments supplier’s stock valued at $5,235,000 after buying an additional 2,309 shares in the last quarter. Finally, Mutual Advisors LLC lifted its holdings in Baxter International by 5.1% during the 3rd quarter. Mutual Advisors LLC now owns 4,347 shares of the medical instruments supplier’s stock valued at $380,000 after buying an additional 210 shares in the last quarter. 83.45% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE BAX traded up $0.47 during trading hours on Friday, hitting $78.47. 42,680 shares of the stock were exchanged, compared to its average volume of 3,586,525. The company has a quick ratio of 2.10, a current ratio of 2.78 and a debt-to-equity ratio of 0.72. The company has a market cap of $39.56 billion, a PE ratio of 25.74, a PEG ratio of 2.00 and a beta of 0.97. The firm has a fifty day moving average price of $84.27 and a 200-day moving average price of $82.09. Baxter International Inc has a 12 month low of $61.40 and a 12 month high of $89.93.

BAX has been the subject of a number of research analyst reports. Royal Bank of Canada set a $87.00 price objective on shares of Baxter International and gave the company a “hold” rating in a report on Friday, July 26th. Barclays set a $82.00 price objective on shares of Baxter International and gave the company a “hold” rating in a report on Friday, July 26th. ValuEngine lowered shares of Baxter International from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Credit Suisse Group boosted their price target on shares of Baxter International from $84.00 to $95.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Finally, Wells Fargo & Co set a $95.00 price target on shares of Baxter International and gave the company a “buy” rating in a report on Friday, July 26th. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Baxter International currently has an average rating of “Buy” and an average target price of $90.14.

In related news, SVP Jacqueline Kunzler sold 5,934 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $88.12, for a total transaction of $522,904.08. Following the completion of the transaction, the senior vice president now owns 3,089 shares in the company, valued at approximately $272,202.68. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director James R. Gavin III sold 7,950 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $87.63, for a total transaction of $696,658.50. Following the transaction, the director now owns 40,932 shares of the company’s stock, valued at approximately $3,586,871.16. The disclosure for this sale can be found here. In the last quarter, insiders have sold 17,396 shares of company stock valued at $1,528,575. 0.70% of the stock is currently owned by company insiders.

Baxter International Profile

Baxter International Inc, through its subsidiaries, develops and provides a portfolio of healthcare products. The company operates through North and South America; Europe, Middle East and Africa; and Asia-Pacific segments. The company 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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