Covestor Ltd Raises Stock Position in Baxter International Inc. (NYSE:BAX)

Covestor Ltd lifted its position in Baxter International Inc. (NYSE:BAX) by 23.4% in the third quarter, Holdings Channel reports. The firm owned 6,431 shares of the medical instruments supplier’s stock after buying an additional 1,219 shares during the period. Covestor Ltd’s holdings in Baxter International were worth $244,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of BAX. First PREMIER Bank bought a new stake in Baxter International during the 3rd quarter valued at $25,000. Innealta Capital LLC bought a new stake in shares of Baxter International in the second quarter valued at about $27,000. LRI Investments LLC purchased a new stake in Baxter International in the first quarter worth about $39,000. Fortitude Family Office LLC bought a new position in Baxter International during the 3rd quarter worth about $38,000. Finally, Versant Capital Management Inc increased its position in Baxter International by 974.2% during the 2nd quarter. Versant Capital Management Inc now owns 1,332 shares of the medical instruments supplier’s stock valued at $45,000 after purchasing an additional 1,208 shares during the period. Hedge funds and other institutional investors own 90.19% of the company’s stock.

Baxter International Price Performance

NYSE BAX opened at $34.64 on Friday. The company has a market cap of $17.67 billion, a price-to-earnings ratio of 7.13, a PEG ratio of 1.22 and a beta of 0.60. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.40 and a quick ratio of 0.91. The stock’s fifty day moving average price is $37.39 and its 200 day moving average price is $36.12. Baxter International Inc. has a 1 year low of $32.48 and a 1 year high of $44.01.

Baxter International (NYSE:BAX) last announced its quarterly earnings data on Friday, November 8th. The medical instruments supplier reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.02. Baxter International had a return on equity of 18.06% and a net margin of 16.51%. The business had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.85 billion. During the same period in the prior year, the company earned $0.68 earnings per share. The company’s revenue was up 3.8% on a year-over-year basis. As a group, equities research analysts forecast that Baxter International Inc. will post 2.96 earnings per share for the current year.

Wall Street Analyst Weigh In

BAX has been the subject of several research reports. JPMorgan Chase & Co. lowered their price target on shares of Baxter International from $44.00 to $42.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Morgan Stanley cut Baxter International from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $39.00 to $30.00 in a research report on Monday, July 15th. StockNews.com raised Baxter International from a “hold” rating to a “buy” rating in a research report on Tuesday, October 22nd. Citigroup raised their price objective on Baxter International from $38.00 to $40.00 and gave the company a “neutral” rating in a research report on Tuesday, October 1st. Finally, Wells Fargo & Company cut their target price on Baxter International from $44.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $41.20.

Baxter International Company Profile

Baxter International Inc, through its subsidiaries, develops and provides a portfolio of healthcare products worldwide. The company operates through four segments: Medical Products and Therapies, Healthcare Systems and Technologies, Pharmaceuticals, and Kidney Care. The company offers sterile intravenous (IV) solutions; infusion systems and devices; parenteral nutrition therapies; generic injectable pharmaceuticals; surgical hemostat and sealant products, advanced surgical equipment; smart bed systems; patient monitoring and diagnostic technologies; and respiratory health devices, as well as advanced equipment for the surgical space, including surgical video technologies, precision positioning devices, and other accessories.