Locust Wood Capital Advisers LLC Has $35.82 Million Holdings in Baxter International Inc (NYSE:BAX)

Locust Wood Capital Advisers LLC cut its holdings in Baxter International Inc (NYSE:BAX) by 2.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 409,525 shares of the medical instruments supplier’s stock after selling 10,980 shares during the period. Baxter International makes up approximately 3.0% of Locust Wood Capital Advisers LLC’s investment portfolio, making the stock its 13th largest position. Locust Wood Capital Advisers LLC owned about 0.08% of Baxter International worth $35,821,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. lifted its position in Baxter International by 1.4% during the second quarter. BlackRock Inc. now owns 40,589,288 shares of the medical instruments supplier’s stock worth $3,324,263,000 after purchasing an additional 560,814 shares during the period. Morgan Stanley lifted its holdings in shares of Baxter International by 5.5% in the second quarter. Morgan Stanley now owns 17,154,303 shares of the medical instruments supplier’s stock worth $1,404,937,000 after acquiring an additional 895,279 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Baxter International by 0.6% in the second quarter. Northern Trust Corp now owns 8,758,537 shares of the medical instruments supplier’s stock worth $717,323,000 after acquiring an additional 54,889 shares during the last quarter. Veritas Asset Management LLP lifted its holdings in shares of Baxter International by 0.5% in the second quarter. Veritas Asset Management LLP now owns 7,886,549 shares of the medical instruments supplier’s stock worth $645,908,000 after acquiring an additional 35,600 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of Baxter International by 43.4% in the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 6,430,469 shares of the medical instruments supplier’s stock worth $526,655,000 after acquiring an additional 1,945,800 shares during the last quarter. Institutional investors and hedge funds own 83.51% of the company’s stock.

A number of research firms have recently commented on BAX. Barclays set a $82.00 target price on shares of Baxter International and gave the stock a “hold” rating in a report on Friday, July 26th. ValuEngine cut shares of Baxter International from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Wells Fargo & Co set a $95.00 price objective on Baxter International and gave the company a “buy” rating in a research note on Friday, July 26th. Royal Bank of Canada set a $87.00 price objective on Baxter International and gave the company a “hold” rating in a research note on Friday, July 26th. Finally, Credit Suisse Group upped their price objective on Baxter International from $84.00 to $95.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Baxter International has an average rating of “Buy” and a consensus target price of $85.67.

In other Baxter International news, SVP Jacqueline Kunzler sold 5,934 shares of the stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $88.12, for a total transaction of $522,904.08. Following the completion of the sale, the senior vice president now owns 3,089 shares of the company’s stock, valued at approximately $272,202.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Andrew Frye sold 3,332 shares of the stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $88.00, for a total transaction of $293,216.00. Following the sale, the senior vice president now directly owns 16,391 shares of the company’s stock, valued at approximately $1,442,408. The disclosure for this sale can be found here. Insiders have sold a total of 17,396 shares of company stock valued at $1,528,575 in the last three months. Insiders own 0.70% of the company’s stock.

NYSE:BAX traded down $0.36 on Tuesday, reaching $88.09. 26,274 shares of the stock traded hands, compared to its average volume of 2,215,279. The firm has a market capitalization of $44.92 billion, a price-to-earnings ratio of 29.04, a price-to-earnings-growth ratio of 2.04 and a beta of 0.99. The company’s 50 day moving average is $87.27 and its 200-day moving average is $82.09. The company has a current ratio of 2.78, a quick ratio of 2.10 and a debt-to-equity ratio of 0.72. Baxter International Inc has a 1-year low of $61.05 and a 1-year high of $89.93.

Baxter International (NYSE:BAX) last released its earnings results on Thursday, July 25th. The medical instruments supplier reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.08. The business had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.80 billion. Baxter International had a net margin of 14.28% and a return on equity of 21.21%. The company’s revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.77 EPS. On average, equities research analysts forecast that Baxter International Inc will post 3.37 EPS for the current fiscal year.

Baxter International Profile

Baxter International Inc, through its subsidiaries, develops and provides a portfolio of healthcare products. The company operates through North and South America; Europe, Middle East and Africa; and Asia-Pacific segments. The company 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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