Whittier Trust Co. lessened its stake in Baxter International Inc (NYSE:BAX) by 5.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,912 shares of the medical instruments supplier’s stock after selling 339 shares during the quarter. Whittier Trust Co.’s holdings in Baxter International were worth $481,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of BAX. Norges Bank acquired a new stake in shares of Baxter International in the fourth quarter valued at approximately $549,458,000. Morgan Stanley increased its stake in Baxter International by 267.9% during the third quarter. Morgan Stanley now owns 10,570,520 shares of the medical instruments supplier’s stock worth $814,880,000 after acquiring an additional 7,697,267 shares during the last quarter. Oregon Public Employees Retirement Fund increased its stake in Baxter International by 6,487.4% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,555,596 shares of the medical instruments supplier’s stock worth $54,000 after acquiring an additional 3,501,620 shares during the last quarter. State of Tennessee Treasury Department increased its stake in Baxter International by 460.8% during the fourth quarter. State of Tennessee Treasury Department now owns 935,648 shares of the medical instruments supplier’s stock worth $61,584,000 after acquiring an additional 768,804 shares during the last quarter. Finally, California Public Employees Retirement System increased its stake in Baxter International by 37.4% during the fourth quarter. California Public Employees Retirement System now owns 2,716,768 shares of the medical instruments supplier’s stock worth $178,818,000 after acquiring an additional 740,213 shares during the last quarter. 86.48% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have issued reports on BAX shares. Barclays raised their target price on Baxter International from $72.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Monday, April 15th. Piper Jaffray Companies reissued an “overweight” rating and set a $80.00 target price on shares of Baxter International in a research note on Friday, February 1st. Morgan Stanley lifted their price objective on Baxter International from $80.00 to $83.00 and gave the company an “overweight” rating in a research note on Tuesday, March 5th. Zacks Investment Research raised Baxter International from a “hold” rating to a “buy” rating and set a $86.00 price objective for the company in a research note on Tuesday, March 19th. Finally, Wells Fargo & Co lifted their price objective on Baxter International from $80.00 to $89.00 and gave the company an “outperform” rating in a research note on Wednesday, April 3rd. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $78.50.
Baxter International (NYSE:BAX) last released its earnings results on Thursday, April 25th. The medical instruments supplier reported $0.76 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.08. The firm had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.61 billion. Baxter International had a return on equity of 19.50% and a net margin of 14.27%. Baxter International’s revenue was down 1.7% compared to the same quarter last year. During the same period last year, the business posted $0.70 earnings per share. Equities research analysts predict that Baxter International Inc will post 3.32 earnings per share for the current year.
In other Baxter International news, SVP Giuseppe Accogli sold 38,297 shares of Baxter International stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $76.78, for a total transaction of $2,940,443.66. Following the completion of the sale, the senior vice president now directly owns 70,001 shares of the company’s stock, valued at approximately $5,374,676.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Peter S. Hellman sold 5,680 shares of Baxter International stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $81.89, for a total value of $465,135.20. Following the sale, the director now directly owns 28,774 shares of the company’s stock, valued at $2,356,302.86. The disclosure for this sale can be found here. Insiders have sold a total of 56,187 shares of company stock valued at $4,371,419 over the last ninety days. 0.70% of the stock is owned by company insiders.
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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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