Palisade Asset Management LLC Lowers Holdings in Baxter International Inc (NYSE:BAX)

Palisade Asset Management LLC decreased its position in Baxter International Inc (NYSE:BAX) by 1.1% in the third quarter, Holdings Channel reports. The firm owned 98,519 shares of the medical instruments supplier’s stock after selling 1,125 shares during the period. Palisade Asset Management LLC’s holdings in Baxter International were worth $8,617,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in BAX. Advisor Partners LLC lifted its holdings in Baxter International by 6.2% during the third quarter. Advisor Partners LLC now owns 26,816 shares of the medical instruments supplier’s stock worth $2,346,000 after buying an additional 1,573 shares during the period. Strategic Blueprint LLC purchased a new stake in Baxter International during the third quarter worth $130,000. Signaturefd LLC lifted its holdings in Baxter International by 20.9% during the third quarter. Signaturefd LLC now owns 7,626 shares of the medical instruments supplier’s stock worth $667,000 after buying an additional 1,318 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in Baxter International by 8.1% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 33,343 shares of the medical instruments supplier’s stock worth $2,916,000 after buying an additional 2,499 shares during the period. Finally, DNB Asset Management AS lifted its holdings in Baxter International by 6.0% during the third quarter. DNB Asset Management AS now owns 51,709 shares of the medical instruments supplier’s stock worth $4,523,000 after buying an additional 2,912 shares during the period. Hedge funds and other institutional investors own 83.49% of the company’s stock.

Shares of BAX stock traded up $0.64 during trading hours on Thursday, reaching $87.66. 34,292 shares of the company’s stock were exchanged, compared to its average volume of 2,664,722. The stock’s 50 day moving average is $87.18 and its 200-day moving average is $81.92. The company has a market cap of $44.52 billion, a price-to-earnings ratio of 28.72, a P/E/G ratio of 2.02 and a beta of 0.99. 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 fifty-two week low of $61.05 and a fifty-two week high of $89.93.

Baxter International (NYSE:BAX) last issued its quarterly earnings results on Thursday, July 25th. The medical instruments supplier reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.08. Baxter International had a return on equity of 21.21% and a net margin of 14.28%. The business had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.80 billion. During the same period in the prior year, the firm posted $0.77 earnings per share. The business’s quarterly revenue was down .1% on a year-over-year basis. Equities analysts anticipate that Baxter International Inc will post 3.37 EPS for the current year.

In related news, SVP Jacqueline Kunzler sold 5,934 shares of the company’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $88.12, for a total value of $522,904.08. Following the transaction, the senior vice president now directly 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 SEC, which is available through this hyperlink. Also, SVP Andrew Frye sold 3,332 shares of the company’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $88.00, for a total value of $293,216.00. Following the completion of the transaction, the senior vice president now directly owns 16,391 shares in the company, valued at $1,442,408. The disclosure for this sale can be found here. Over the last three months, insiders sold 17,396 shares of company stock worth $1,528,575. 0.70% of the stock is owned by insiders.

A number of research firms have weighed in on BAX. ValuEngine lowered 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 target on Baxter International and gave the stock a “buy” rating in a research report on Friday, July 26th. Zacks Investment Research raised Baxter International from a “hold” rating to a “buy” rating and set a $86.00 price target on the stock in a research report on Friday, June 21st. Raymond James upped their price target on Baxter International from $84.00 to $95.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Finally, Piper Jaffray Companies reaffirmed a “buy” rating on shares of Baxter International in a research report on Tuesday, September 10th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Baxter International currently has a consensus rating of “Buy” and an average target price of $85.67.

About Baxter International

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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