Investors Buy Shares of Baxter International (BAX) on Weakness

Traders bought shares of Baxter International Inc (NYSE:BAX) on weakness during trading hours on Thursday. $81.94 million flowed into the stock on the tick-up and $43.24 million flowed out of the stock on the tick-down, for a money net flow of $38.70 million into the stock. Of all companies tracked, Baxter International had the 27th highest net in-flow for the day. Baxter International traded down ($1.97) for the day and closed at $70.47

BAX has been the topic of several recent analyst reports. Zacks Investment Research upgraded Baxter International from a “hold” rating to a “buy” rating and set a $87.00 price target on the stock in a research note on Tuesday, September 25th. Argus reiterated a “hold” rating on shares of Baxter International in a research note on Tuesday, September 4th. JPMorgan Chase & Co. lifted their price target on Baxter International from $80.00 to $85.00 and gave the company an “overweight” rating in a research note on Friday, July 27th. Piper Jaffray Companies lifted their price target on Baxter International from $77.00 to $83.00 and gave the company an “overweight” rating in a research note on Friday, July 27th. Finally, Barclays initiated coverage on Baxter International in a research note on Monday, October 15th. They issued an “underweight” rating and a $73.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $77.77.

The stock has a market capitalization of $37.65 billion, a price-to-earnings ratio of 28.01, a price-to-earnings-growth ratio of 1.90 and a beta of 0.77. The company has a quick ratio of 2.00, a current ratio of 2.62 and a debt-to-equity ratio of 0.39.

Baxter International (NYSE:BAX) last issued its quarterly earnings data on Thursday, July 26th. The medical instruments supplier reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.06. The business had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.83 billion. Baxter International had a return on equity of 16.63% and a net margin of 8.29%. Baxter International’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.63 EPS. Equities analysts forecast that Baxter International Inc will post 2.98 earnings per share for the current year.

In related news, SVP Giuseppe Accogli sold 17,647 shares of the business’s stock in a transaction on Monday, September 17th. The stock was sold at an average price of $77.27, for a total transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Carole J. Shapazian sold 5,400 shares of the business’s stock in a transaction on Wednesday, August 8th. The stock was sold at an average price of $72.97, for a total value of $394,038.00. Following the sale, the director now owns 15,248 shares in the company, valued at approximately $1,112,646.56. The disclosure for this sale can be found here. Insiders own 0.05% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. FMR LLC lifted its holdings in Baxter International by 25.6% during the 2nd quarter. FMR LLC now owns 28,637,027 shares of the medical instruments supplier’s stock worth $2,114,558,000 after buying an additional 5,845,720 shares during the period. Voya Investment Management LLC lifted its holdings in Baxter International by 411.6% during the 2nd quarter. Voya Investment Management LLC now owns 3,411,849 shares of the medical instruments supplier’s stock worth $251,931,000 after buying an additional 2,745,012 shares during the period. Morgan Stanley lifted its holdings in Baxter International by 107.8% during the 2nd quarter. Morgan Stanley now owns 2,873,253 shares of the medical instruments supplier’s stock worth $212,161,000 after buying an additional 1,490,287 shares during the period. Standard Life Aberdeen plc lifted its holdings in Baxter International by 77.2% during the 2nd quarter. Standard Life Aberdeen plc now owns 2,596,870 shares of the medical instruments supplier’s stock worth $191,753,000 after buying an additional 1,131,691 shares during the period. Finally, Swiss National Bank lifted its holdings in Baxter International by 6.1% during the 2nd quarter. Swiss National Bank now owns 2,191,439 shares of the medical instruments supplier’s stock worth $161,816,000 after buying an additional 125,700 shares during the period. 83.10% of the stock is currently owned by hedge funds and other institutional investors.

Baxter International Company Profile (NYSE:BAX)

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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