Bank of New York Mellon Corp Lowers Stake in Baxter International Inc (BAX)

Bank of New York Mellon Corp reduced its stake in shares of Baxter International Inc (NYSE:BAX) by 6.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,373,209 shares of the medical instruments supplier’s stock after selling 326,133 shares during the period. Bank of New York Mellon Corp’s holdings in Baxter International were worth $322,917,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Natixis lifted its position in Baxter International by 62.5% during the second quarter. Natixis now owns 716,411 shares of the medical instruments supplier’s stock valued at $52,900,000 after purchasing an additional 275,452 shares during the period. AMP Capital Investors Ltd lifted its position in Baxter International by 1.5% during the second quarter. AMP Capital Investors Ltd now owns 267,439 shares of the medical instruments supplier’s stock valued at $19,749,000 after purchasing an additional 3,839 shares during the period. Putnam Investments LLC lifted its position in Baxter International by 33.9% during the second quarter. Putnam Investments LLC now owns 1,330,139 shares of the medical instruments supplier’s stock valued at $98,217,000 after purchasing an additional 336,950 shares during the period. Dakota Wealth Management acquired a new position in Baxter International during the second quarter valued at $517,000. Finally, Swiss National Bank lifted its position in Baxter International by 6.1% during the second quarter. Swiss National Bank now owns 2,191,439 shares of the medical instruments supplier’s stock valued at $161,816,000 after purchasing an additional 125,700 shares during the period. Institutional investors and hedge funds own 83.08% of the company’s stock.

In other Baxter International news, Director Carole J. Shapazian sold 5,400 shares of Baxter International stock in a transaction on Wednesday, August 8th. The shares were sold at an average price of $72.97, for a total value of $394,038.00. Following the completion of the transaction, the director now owns 15,248 shares of the company’s stock, valued at $1,112,646.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Giuseppe Accogli sold 17,647 shares of Baxter International stock in a transaction on Monday, September 17th. The shares were sold at an average price of $77.27, for a total transaction of $1,363,583.69. Following the completion of the transaction, the senior vice president now directly owns 59,452 shares of the company’s stock, valued at approximately $4,593,856.04. The disclosure for this sale can be found here. 0.07% of the stock is currently owned by insiders.



BAX opened at $68.66 on Wednesday. Baxter International Inc has a fifty-two week low of $62.52 and a fifty-two week high of $78.38. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.62 and a quick ratio of 2.00. The firm has a market capitalization of $35.85 billion, a price-to-earnings ratio of 27.69, a PEG ratio of 1.81 and a beta of 0.77.

BAX has been the subject of a number of research reports. Piper Jaffray Companies boosted their target price on shares of Baxter International from $77.00 to $83.00 and gave the company an “overweight” rating in a research report on Friday, July 27th. Argus restated a “hold” rating on shares of Baxter International in a research report on Tuesday, September 4th. Barclays initiated coverage on shares of Baxter International in a research report on Monday, October 15th. They set an “underweight” rating and a $73.00 target price for the company. Royal Bank of Canada restated a “hold” rating and set a $76.00 target price on shares of Baxter International in a research report on Friday, July 27th. Finally, Zacks Investment Research upgraded shares of Baxter International from a “hold” rating to a “buy” rating and set a $87.00 target price for the company in a research report on Tuesday, September 25th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $77.77.

Baxter International Profile

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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