Fagan Associates Inc. Sells 255 Shares of Baxter International Inc (BAX)

Fagan Associates Inc. lowered its position in shares of Baxter International Inc (NYSE:BAX) by 6.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 3,445 shares of the medical instruments supplier’s stock after selling 255 shares during the period. Fagan Associates Inc.’s holdings in Baxter International were worth $227,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in BAX. Morgan Stanley grew its position in shares of 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. FMR LLC grew 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 worth $2,114,558,000 after acquiring an additional 5,845,720 shares during the last quarter. Standard Life Aberdeen plc grew its position in shares of Baxter International by 121.2% during the third quarter. Standard Life Aberdeen plc now owns 5,743,738 shares of the medical instruments supplier’s stock worth $442,813,000 after acquiring an additional 3,146,868 shares during the last quarter. Schroder Investment Management Group grew its position in shares of Baxter International by 40,097.9% during the third quarter. Schroder Investment Management Group now owns 1,878,850 shares of the medical instruments supplier’s stock worth $144,841,000 after acquiring an additional 1,874,176 shares during the last quarter. Finally, Federated Investors Inc. PA grew its position in shares of Baxter International by 102.2% during the third quarter. Federated Investors Inc. PA now owns 1,447,814 shares of the medical instruments supplier’s stock worth $111,612,000 after acquiring an additional 731,914 shares during the last quarter. Institutional investors and hedge funds own 84.01% of the company’s stock.

Shares of NYSE BAX opened at $71.50 on Monday. Baxter International Inc has a twelve month low of $61.05 and a twelve month high of $78.38. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.60 and a quick ratio of 1.96. The stock has a market capitalization of $38.05 billion, a price-to-earnings ratio of 23.44, a price-to-earnings-growth ratio of 1.79 and a beta of 0.99.

Baxter International (NYSE:BAX) last issued its quarterly earnings results on Thursday, January 31st. The medical instruments supplier reported $0.78 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.05. Baxter International had a net margin of 14.60% and a return on equity of 18.46%. The company had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.80 billion. On average, equities research analysts forecast that Baxter International Inc will post 3.27 EPS for the current year.

Baxter International announced that its board has approved a share repurchase plan on Tuesday, November 13th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the medical instruments supplier to purchase up to 6.1% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

In other Baxter International news, Director Thomas T. Stallkamp sold 1,638 shares of the company’s stock in a transaction dated Friday, February 1st. The shares were sold at an average price of $73.75, for a total transaction of $120,802.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Third Point Llc sold 8,000,000 shares of the company’s stock in a transaction dated Monday, December 3rd. The shares were sold at an average price of $68.62, for a total transaction of $548,960,000.00. The disclosure for this sale can be found here. Insiders have sold 8,055,348 shares of company stock valued at $552,892,722 over the last ninety days. Insiders own 0.07% of the company’s stock.

Several research firms have recently commented on BAX. Zacks Investment Research lowered shares of Baxter International from a “buy” rating to a “hold” rating in a research report on Thursday, January 3rd. Barclays upgraded shares of Baxter International from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $67.00 to $72.00 in a research report on Friday, February 1st. Piper Jaffray Companies decreased their target price 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. BMO Capital Markets decreased their target price 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. Finally, Citigroup decreased their target price on shares of Baxter International from $76.00 to $69.00 and set a “neutral” rating for the company in a research report on Tuesday, November 13th. One analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $76.41.

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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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