Investors Buy Baxter International (BAX) on Weakness

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Traders purchased shares of Baxter International Inc (NYSE:BAX) on weakness during trading on Wednesday. $239.54 million flowed into the stock on the tick-up and $176.24 million flowed out of the stock on the tick-down, for a money net flow of $63.30 million into the stock. Of all companies tracked, Baxter International had the 32nd highest net in-flow for the day. Baxter International traded down ($6.15) for the day and closed at $62.51

BAX has been the subject of several recent research reports. Zacks Investment Research lowered Baxter International from a “buy” rating to a “hold” rating in a report on Tuesday, July 24th. Royal Bank of Canada reissued a “hold” rating and issued a $76.00 price objective on shares of Baxter International in a report on Friday, July 27th. JPMorgan Chase & Co. lifted their price objective on Baxter International from $80.00 to $85.00 and gave the stock an “overweight” rating in a report on Friday, July 27th. Piper Jaffray Companies lifted their price objective on Baxter International from $77.00 to $83.00 and gave the stock an “overweight” rating in a report on Friday, July 27th. Finally, Citigroup lifted their price objective on Baxter International from $74.00 to $76.00 and gave the stock a “neutral” rating in a report on Tuesday, July 31st. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company’s stock. Baxter International presently has a consensus rating of “Hold” and an average price target of $77.77.

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 capitalization of $35.85 billion, a P/E ratio of 25.21, a PEG ratio of 1.81 and a beta of 0.77.

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 the consensus estimate of $0.74 by $0.06. Baxter International had a return on equity of 16.63% and a net margin of 8.29%. The business had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.79 billion. During the same quarter last year, the company earned $0.64 EPS. The firm’s revenue was up 2.2% compared to the same quarter last year. Equities analysts forecast that Baxter International Inc will post 2.98 earnings per share for the current year.

In other Baxter International news, SVP Giuseppe Accogli sold 17,647 shares of the firm’s stock in a transaction dated 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 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 can be accessed through the SEC website. Also, Director Carole J. Shapazian sold 5,400 shares of the firm’s stock in a transaction dated 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 transaction, the director now 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. 0.07% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. FMR LLC boosted its position in shares of Baxter International by 25.6% during the 2nd quarter. FMR LLC now owns 28,637,027 shares of the medical instruments supplier’s stock valued at $2,114,558,000 after acquiring an additional 5,845,720 shares during the last quarter. Voya Investment Management LLC boosted its position in shares of Baxter International by 411.6% during the 2nd quarter. Voya Investment Management LLC now owns 3,411,849 shares of the medical instruments supplier’s stock valued at $251,931,000 after acquiring an additional 2,745,012 shares during the last quarter. Morgan Stanley boosted its position in shares of Baxter International by 107.8% during the 2nd quarter. Morgan Stanley now owns 2,873,253 shares of the medical instruments supplier’s stock valued at $212,161,000 after acquiring an additional 1,490,287 shares during the last quarter. Standard Life Aberdeen plc boosted its position in shares of Baxter International by 77.2% during the 2nd quarter. Standard Life Aberdeen plc now owns 2,596,870 shares of the medical instruments supplier’s stock valued at $191,753,000 after acquiring an additional 1,131,691 shares during the last quarter. Finally, SPF Beheer BV bought a new stake in shares of Baxter International during the 2nd quarter valued at about $53,405,000. Institutional investors and hedge funds own 83.08% of the company’s stock.

Baxter International Company Profile (NYSE:BAX)

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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