Trust Point Inc. Acquires Shares of 5,607 Baxter International Inc. (NYSE:BAX)

Trust Point Inc. acquired a new position in shares of Baxter International Inc. (NYSE:BAX) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 5,607 shares of the medical instruments supplier’s stock, valued at approximately $213,000.

Other institutional investors have also recently made changes to their positions in the company. Valeo Financial Advisors LLC purchased a new position in Baxter International during the third quarter worth about $218,000. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in shares of Baxter International by 229.9% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 4,747 shares of the medical instruments supplier’s stock worth $180,000 after buying an additional 3,308 shares during the last quarter. First PREMIER Bank purchased a new position in shares of Baxter International in the 3rd quarter worth approximately $25,000. GAMMA Investing LLC grew its holdings in shares of Baxter International by 6.5% in the third quarter. GAMMA Investing LLC now owns 7,517 shares of the medical instruments supplier’s stock valued at $285,000 after acquiring an additional 459 shares in the last quarter. Finally, Handelsbanken Fonder AB increased its position in shares of Baxter International by 8.7% during the third quarter. Handelsbanken Fonder AB now owns 217,629 shares of the medical instruments supplier’s stock valued at $8,263,000 after acquiring an additional 17,450 shares during the last quarter. Institutional investors own 90.19% of the company’s stock.

Wall Street Analysts Forecast Growth

BAX has been the subject of a number of recent analyst reports. Wells Fargo & Company reduced their price objective on Baxter International from $44.00 to $40.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 7th. The Goldman Sachs Group raised their price objective on shares of Baxter International from $36.00 to $40.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Morgan Stanley cut shares of 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 note on Monday, July 15th. StockNews.com lowered shares of Baxter International from a “buy” rating to a “hold” rating in a research note on Tuesday, October 1st. Finally, JPMorgan Chase & Co. dropped their price objective on Baxter International from $44.00 to $42.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $42.00.

Baxter International Stock Up 0.6 %

Baxter International stock opened at $36.86 on Friday. The firm has a 50 day simple moving average of $37.61 and a 200 day simple moving average of $36.63. The company has a current ratio of 1.40, a quick ratio of 0.91 and a debt-to-equity ratio of 1.35. Baxter International Inc. has a 1-year low of $31.70 and a 1-year high of $44.01. The firm has a market capitalization of $18.78 billion, a price-to-earnings ratio of 7.09, a P/E/G ratio of 1.28 and a beta of 0.59.

Baxter International (NYSE:BAX) last announced its quarterly earnings results on Tuesday, August 6th. The medical instruments supplier reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.02. The company had revenue of $3.81 billion during the quarter, compared to analysts’ expectations of $3.75 billion. Baxter International had a return on equity of 18.06% and a net margin of 16.51%. The firm’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.55 earnings per share. On average, analysts predict that Baxter International Inc. will post 2.96 earnings per share for the current year.

Baxter International 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.