Bessemer Group Inc. Boosts Holdings in Baxter International Inc (BAX)

Bessemer Group Inc. grew its stake in shares of Baxter International Inc (NYSE:BAX) by 0.6% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,809,617 shares of the medical instruments supplier’s stock after buying an additional 23,264 shares during the quarter. Baxter International makes up 1.1% of Bessemer Group Inc.’s holdings, making the stock its 20th biggest holding. Bessemer Group Inc.’s holdings in Baxter International were worth $293,682,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Stone Ridge Asset Management LLC lifted its holdings in Baxter International by 17.8% in the third quarter. Stone Ridge Asset Management LLC now owns 9,908 shares of the medical instruments supplier’s stock valued at $764,000 after buying an additional 1,500 shares during the period. Progressive Investment Management Corp raised its holdings in shares of Baxter International by 1.5% during the third quarter. Progressive Investment Management Corp now owns 80,486 shares of the medical instruments supplier’s stock valued at $6,205,000 after purchasing an additional 1,204 shares during the period. Penserra Capital Management LLC acquired a new position in shares of Baxter International during the third quarter valued at about $1,556,000. Chicago Partners Investment Group LLC raised its holdings in shares of Baxter International by 31.4% during the third quarter. Chicago Partners Investment Group LLC now owns 3,351 shares of the medical instruments supplier’s stock valued at $225,000 after purchasing an additional 800 shares during the period. Finally, Hall Capital Management Co. Inc. raised its holdings in shares of Baxter International by 26.8% during the third quarter. Hall Capital Management Co. Inc. now owns 7,783 shares of the medical instruments supplier’s stock valued at $600,000 after purchasing an additional 1,645 shares during the period. 82.28% of the stock is currently owned by hedge funds and other institutional investors.

BAX opened at $63.48 on Friday. The company has a current ratio of 2.60, a quick ratio of 2.00 and a debt-to-equity ratio of 0.38. Baxter International Inc has a fifty-two week low of $61.05 and a fifty-two week high of $78.38. The stock has a market capitalization of $33.79 billion, a P/E ratio of 25.60, a price-to-earnings-growth ratio of 1.71 and a beta of 1.02.

Baxter International (NYSE:BAX) last posted its earnings results on Wednesday, October 31st. The medical instruments supplier reported $0.80 earnings per share for the quarter, topping the Zacks’ 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 company had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.79 billion. During the same quarter in the prior year, the business posted $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 3 EPS for the current fiscal year.

In related news, SVP Giuseppe Accogli sold 17,647 shares of the company’s stock in a transaction dated 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 sale, the senior vice president now 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 this hyperlink. Corporate insiders own 0.05% of the company’s stock.

Several equities analysts have recently weighed in on the stock. Piper Jaffray Companies upped their price objective on shares of Baxter International from $77.00 to $83.00 and gave the company an “overweight” rating in a report on Friday, July 27th. Citigroup upped their price objective on shares of Baxter International from $74.00 to $76.00 and gave the company a “neutral” rating in a report on Tuesday, July 31st. Zacks Investment Research upgraded shares of Baxter International from a “hold” rating to a “buy” rating and set a $87.00 price objective on the stock in a report on Tuesday, September 25th. JPMorgan Chase & Co. upped their price objective on shares of Baxter International from $80.00 to $85.00 and gave the company an “overweight” rating in a report on Friday, July 27th. Finally, Argus reiterated a “hold” rating on shares of Baxter International in a report on Tuesday, September 4th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price 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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Institutional Ownership by Quarter for Baxter International (NYSE:BAX)

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