Baxter International Inc (BAX) Position Cut by Gabelli Funds LLC

Gabelli Funds LLC cut its stake in shares of Baxter International Inc (NYSE:BAX) by 3.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 213,000 shares of the medical instruments supplier’s stock after selling 7,000 shares during the period. Gabelli Funds LLC’s holdings in Baxter International were worth $16,420,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in BAX. FMR LLC increased its position in shares of Baxter International by 25.6% during the second 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 increased its position in shares of Baxter International by 411.6% during the second 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 increased its position in shares of Baxter International by 107.8% during the second 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 increased its position in shares of Baxter International by 77.2% during the second 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 acquired a new stake in shares of Baxter International during the second quarter valued at about $53,405,000. Institutional investors and hedge funds own 82.28% of the company’s stock.

In related news, SVP Giuseppe Accogli sold 17,647 shares of Baxter International stock in a transaction that occurred on Monday, September 17th. The shares were 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 $4,593,856.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.05% of the stock is owned by insiders.

NYSE BAX opened at $63.87 on Friday. The company has a quick ratio of 2.00, a current ratio of 2.60 and a debt-to-equity ratio of 0.38. Baxter International Inc has a one year low of $61.05 and a one year high of $78.38. The company has a market capitalization of $33.75 billion, a PE ratio of 25.75, a price-to-earnings-growth ratio of 1.71 and a beta of 1.02.

Baxter International (NYSE:BAX) last posted its quarterly earnings data on Wednesday, October 31st. The medical instruments supplier reported $0.80 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.06. Baxter International had a net margin of 10.90% and a return on equity of 17.67%. The business had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.79 billion. During the same quarter last year, the firm posted $0.64 earnings per share. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. Equities research analysts anticipate that Baxter International Inc will post 3 earnings per share for the current year.

A number of brokerages have weighed in on BAX. Royal Bank of Canada dropped their price target on shares of Baxter International from $76.00 to $70.00 and set a “sector perform” rating for the company in a research report on Thursday. Morgan Stanley dropped their price target on shares of Baxter International from $75.00 to $66.00 and set an “underweight” rating for the company in a research report on Monday. Argus upgraded shares of Baxter International from a “hold” rating to a “buy” rating and set a $70.00 price target for the company in a research report on Friday, November 2nd. Piper Jaffray Companies dropped their price target on shares of Baxter International from $83.00 to $72.00 and set an “overweight” rating for the company in a research report on Thursday, November 1st. Finally, BMO Capital Markets dropped their price target on shares of Baxter International from $86.00 to $76.00 and set an “outperform” rating for the company in a research report on Thursday, November 1st. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $75.25.

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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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Institutional Ownership by Quarter for Baxter International (NYSE:BAX)

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