NorthCoast Asset Management LLC increased its holdings in shares of Baxter International Inc (NYSE:BAX) by 2.2% in the 4th quarter, HoldingsChannel.com reports. The firm owned 353,389 shares of the medical instruments supplier’s stock after acquiring an additional 7,477 shares during the period. Baxter International makes up approximately 2.1% of NorthCoast Asset Management LLC’s holdings, making the stock its 17th largest holding. NorthCoast Asset Management LLC’s holdings in Baxter International were worth $22,843,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Family Capital Trust Co acquired a new stake in Baxter International during the fourth quarter worth approximately $103,000. Grove Bank & Trust grew its stake in Baxter International by 526.0% during the third quarter. Grove Bank & Trust now owns 2,285 shares of the medical instruments supplier’s stock worth $143,000 after purchasing an additional 1,920 shares during the period. Cerebellum GP LLC acquired a new stake in Baxter International during the fourth quarter worth approximately $173,000. Steward Partners Investment Advisory LLC acquired a new stake in Baxter International during the third quarter worth approximately $175,000. Finally, Clear Harbor Asset Management LLC acquired a new stake in Baxter International during the fourth quarter worth approximately $204,000. 83.54% of the stock is owned by institutional investors and hedge funds.
In other news, SVP Giuseppe Accogli sold 28,641 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $67.00, for a total value of $1,918,947.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Jeanne K. Mason sold 33,350 shares of the firm’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $65.25, for a total value of $2,176,087.50. Following the completion of the transaction, the senior vice president now owns 124,609 shares in the company, valued at approximately $8,130,737.25. The disclosure for this sale can be found here. Company insiders own 0.05% of the company’s stock.
Shares of Baxter International Inc (NYSE BAX) opened at $65.52 on Tuesday. The company has a quick ratio of 2.22, a current ratio of 2.80 and a debt-to-equity ratio of 0.37. Baxter International Inc has a one year low of $48.12 and a one year high of $72.58. The company has a market capitalization of $37,348.23, a P/E ratio of 50.79, a price-to-earnings-growth ratio of 2.00 and a beta of 0.78.
Baxter International (NYSE:BAX) last announced its quarterly earnings data on Thursday, February 1st. The medical instruments supplier reported $0.64 EPS for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.05. Baxter International had a return on equity of 15.12% and a net margin of 6.79%. The firm had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.77 billion. During the same quarter last year, the firm posted $0.57 earnings per share. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. equities research analysts expect that Baxter International Inc will post 2.78 EPS for the current fiscal year.
Several equities research analysts recently commented on BAX shares. Zacks Investment Research cut Baxter International from a “buy” rating to a “hold” rating in a research note on Tuesday, December 26th. Morgan Stanley raised their target price on Baxter International from $59.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 26th. Bank of America raised Baxter International from a “neutral” rating to a “buy” rating in a research note on Tuesday, January 2nd. Evercore ISI started coverage on Baxter International in a research note on Wednesday, January 3rd. They set an “outperform” rating and a $71.00 target price for the company. Finally, Barclays raised their target price on Baxter International from $70.00 to $73.00 and gave the stock an “overweight” rating in a research note on Thursday, October 26th. Seven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $70.36.
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About Baxter International
Baxter International Inc, through its subsidiaries, provides renal and hospital products. The Company operates through two segments: Hospital Products and Renal. Its Hospital Products business manufactures sterile intravenous (IV) solutions and administration sets, premixed drugs and drug-reconstitution systems, pre-filled vials and syringes for injectable drugs, IV nutrition products, parenteral nutrition therapies, infusion pumps, inhalation anesthetics and biosurgery products.
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