180 Wealth Advisors LLC trimmed its holdings in Baxter International Inc (NYSE:BAX) by 2.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,670 shares of the medical instruments supplier’s stock after selling 169 shares during the period. 180 Wealth Advisors LLC’s holdings in Baxter International were worth $587,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Personal Wealth Partners acquired a new position in shares of Baxter International in the 2nd quarter valued at approximately $29,000. TRUE Private Wealth Advisors acquired a new stake in shares of Baxter International during the 2nd quarter valued at approximately $29,000. Old North State Trust LLC acquired a new stake in shares of Baxter International during the 3rd quarter valued at approximately $31,000. Evolution Wealth Advisors LLC acquired a new stake in shares of Baxter International during the 2nd quarter valued at approximately $32,000. Finally, Manchester Financial Inc. acquired a new stake in shares of Baxter International during the 2nd quarter valued at approximately $37,000. 83.51% of the stock is currently owned by institutional investors.
In other Baxter International news, Director James R. Gavin III sold 7,950 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $87.63, for a total value of $696,658.50. Following the sale, the director now directly owns 40,932 shares of the company’s stock, valued at $3,586,871.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Andrew Frye sold 3,332 shares of the stock in a transaction on Monday, October 14th. The stock was sold at an average price of $88.00, for a total value of $293,216.00. Following the completion of the sale, 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. Insiders sold 17,396 shares of company stock worth $1,528,575 over the last ninety days. 0.70% of the stock is owned by corporate insiders.
Baxter International (NYSE:BAX) last issued its earnings results on Thursday, July 25th. The medical instruments supplier reported $0.89 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.81 by $0.08. Baxter International had a return on equity of 21.21% and a net margin of 14.28%. The firm had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.80 billion. During the same period last year, the company earned $0.77 earnings per share. The firm’s revenue for the quarter was down .1% on a year-over-year basis. Equities research analysts expect that Baxter International Inc will post 3.37 earnings per share for the current fiscal year.
BAX has been the topic of several research reports. JPMorgan Chase & Co. set a $94.00 price target on Baxter International and gave the company a “buy” rating in a research report on Tuesday, October 8th. KeyCorp initiated coverage on Baxter International in a research report on Tuesday, June 25th. They set a “sector weight” rating on the stock. Credit Suisse Group upped their price target on Baxter International from $84.00 to $95.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Raymond James upped their price target on Baxter International from $84.00 to $95.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Finally, Royal Bank of Canada set a $87.00 price target on Baxter International and gave the company a “hold” rating in a research report on Friday, July 26th. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus 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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