Progressive Investment Management Corp boosted its holdings in Baxter International Inc (NYSE:BAX) by 1.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 80,486 shares of the medical instruments supplier’s stock after acquiring an additional 1,204 shares during the quarter. Baxter International accounts for approximately 3.7% of Progressive Investment Management Corp’s holdings, making the stock its 6th largest position. Progressive Investment Management Corp’s holdings in Baxter International were worth $6,205,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in BAX. Penserra Capital Management LLC bought a new position in shares of Baxter International during the 3rd quarter valued at $1,556,000. Chicago Partners Investment Group LLC lifted its holdings in shares of Baxter International by 31.4% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 3,351 shares of the medical instruments supplier’s stock valued at $225,000 after buying an additional 800 shares during the period. Hall Capital Management Co. Inc. lifted its holdings in shares of Baxter International by 26.8% during the 3rd quarter. Hall Capital Management Co. Inc. now owns 7,783 shares of the medical instruments supplier’s stock valued at $600,000 after buying an additional 1,645 shares during the period. Los Angeles Capital Management & Equity Research Inc. lifted its holdings in shares of Baxter International by 3.4% during the 3rd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 1,342,202 shares of the medical instruments supplier’s stock valued at $103,470,000 after buying an additional 43,860 shares during the period. Finally, Gulf International Bank UK Ltd lifted its holdings in shares of Baxter International by 2.5% during the 3rd quarter. Gulf International Bank UK Ltd now owns 168,277 shares of the medical instruments supplier’s stock valued at $12,972,000 after buying an additional 4,175 shares during the period. 82.28% of the stock is currently owned by institutional investors and hedge funds.
In other news, SVP Giuseppe Accogli sold 17,647 shares of the company’s stock in a transaction 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 completion of the sale, the senior vice president now directly owns 59,452 shares in the company, valued at approximately $4,593,856.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.05% of the company’s stock.
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, topping the consensus estimate of $0.74 by $0.06. The firm had revenue of $2.77 billion during 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%. Baxter International’s revenue was up 2.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.64 EPS. Sell-side analysts expect that Baxter International Inc will post 3 EPS for the current fiscal year.
BAX has been the topic of several research analyst reports. Piper Jaffray Companies increased their price target on Baxter International from $77.00 to $83.00 and gave the company an “overweight” rating in a report on Friday, July 27th. Leerink Swann lowered their price target on Baxter International from $90.00 to $77.00 and set an “outperform” rating on the stock in a report on Thursday, November 1st. Argus raised Baxter International from a “hold” rating to a “buy” rating and set a $70.00 price target on the stock in a report on Friday, November 2nd. Wells Fargo & Co lowered their price target on Baxter International from $82.00 to $72.00 and set an “outperform” rating on the stock in a report on Thursday, November 1st. Finally, BMO Capital Markets lowered their price target on Baxter International from $86.00 to $76.00 and set an “outperform” rating on the stock in a report on Thursday, November 1st. Two research analysts have rated the stock with a sell rating, four have given a hold rating and eleven have assigned a buy rating to the company’s stock. Baxter International currently has a consensus rating of “Buy” and an average price target of $75.25.
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About Baxter International
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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