Comerica Bank lessened its stake in shares of Baxter International Inc (NYSE:BAX) by 14.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 148,113 shares of the medical instruments supplier’s stock after selling 25,190 shares during the period. Comerica Bank’s holdings in Baxter International were worth $10,180,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bridgeworth LLC bought a new stake in Baxter International during the second quarter worth about $102,000. Migdal Insurance & Financial Holdings Ltd. raised its holdings in Baxter International by 3,088.9% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,435 shares of the medical instruments supplier’s stock worth $106,000 after acquiring an additional 1,390 shares in the last quarter. Baker Ellis Asset Management LLC bought a new stake in Baxter International during the second quarter worth about $111,000. Centaurus Financial Inc. bought a new stake in Baxter International during the second quarter worth about $117,000. Finally, Whittier Trust Co. of Nevada Inc. raised its holdings in Baxter International by 84.4% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,748 shares of the medical instruments supplier’s stock worth $126,000 after acquiring an additional 800 shares in the last quarter. Institutional investors and hedge funds own 82.28% of the company’s stock.
NYSE:BAX opened at $63.87 on Friday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.00 and a current ratio of 2.60. The company has a market capitalization of $33.75 billion, a price-to-earnings ratio of 21.80, a price-to-earnings-growth ratio of 1.71 and a beta of 1.02. Baxter International Inc has a 12-month low of $61.05 and a 12-month high of $78.38.
Baxter International (NYSE:BAX) last released its quarterly earnings data on Wednesday, October 31st. The medical instruments supplier reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.06. The firm had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.79 billion. Baxter International had a return on equity of 17.67% and a net margin of 10.90%. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.64 earnings per share. Equities research analysts predict that Baxter International Inc will post 3 EPS for the current fiscal year.
BAX has been the topic of several analyst reports. Zacks Investment Research upgraded Baxter International from a “hold” rating to a “buy” rating and set a $87.00 target price on the stock in a report on Tuesday, September 25th. Argus reiterated a “hold” rating on shares of Baxter International in a report on Tuesday, September 4th. Morgan Stanley upped their target price on Baxter International from $68.00 to $75.00 and gave the stock an “underweight” rating in a report on Thursday, October 11th. Barclays initiated coverage on Baxter International in a report on Monday, October 15th. They set an “underweight” rating and a $73.00 target price on the stock. Finally, JPMorgan Chase & Co. upped their target price on Baxter International from $80.00 to $85.00 and gave the stock an “overweight” rating in a report on Friday, July 27th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the stock. Baxter International presently has a consensus rating of “Buy” and a consensus price target of $75.25.
In other Baxter International 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 value of $1,363,583.69. Following the sale, the senior vice president now owns 59,452 shares in the company, valued at $4,593,856.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.05% of the stock is owned by corporate insiders.
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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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