Argent Capital Management LLC Sells 24,340 Shares of Baxter International Inc. (NYSE:BAX)

Argent Capital Management LLC reduced its stake in shares of Baxter International Inc. (NYSE:BAX) by 1.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,394,075 shares of the medical instruments supplier’s stock after selling 24,340 shares during the quarter. Baxter International accounts for 3.4% of Argent Capital Management LLC’s holdings, making the stock its 3rd largest position. Argent Capital Management LLC owned approximately 0.26% of Baxter International worth $84,397,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Alps Advisors Inc. raised its position in Baxter International by 0.5% during the second quarter. Alps Advisors Inc. now owns 10,261 shares of the medical instruments supplier’s stock valued at $621,000 after acquiring an additional 52 shares in the last quarter. Clifford Swan Investment Counsel LLC raised its position in Baxter International by 0.4% during the first quarter. Clifford Swan Investment Counsel LLC now owns 15,204 shares of the medical instruments supplier’s stock valued at $788,000 after acquiring an additional 67 shares in the last quarter. Bronfman E.L. Rothschild L.P. raised its position in Baxter International by 3.9% during the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,776 shares of the medical instruments supplier’s stock valued at $144,000 after acquiring an additional 103 shares in the last quarter. Liberty Capital Management Inc. raised its position in Baxter International by 0.4% during the second quarter. Liberty Capital Management Inc. now owns 28,707 shares of the medical instruments supplier’s stock valued at $1,741,000 after acquiring an additional 107 shares in the last quarter. Finally, Ledyard National Bank raised its position in Baxter International by 1.1% during the second quarter. Ledyard National Bank now owns 12,212 shares of the medical instruments supplier’s stock valued at $739,000 after acquiring an additional 138 shares in the last quarter. Institutional investors own 83.60% of the company’s stock.

In related news, SVP Giuseppe Accogli sold 12,670 shares of the firm’s stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $60.96, for a total value of $772,363.20. Following the completion of the transaction, the senior vice president now directly owns 33,286 shares of the company’s stock, valued at approximately $2,029,114.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John D. Forsyth sold 9,440 shares of the firm’s stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $61.76, for a total value of $583,014.40. Following the completion of the transaction, the director now directly owns 32,444 shares of the company’s stock, valued at $2,003,741.44. The disclosure for this sale can be found here. Insiders sold a total of 35,050 shares of company stock valued at $2,158,587 over the last ninety days. 0.05% of the stock is currently owned by company insiders.

Shares of Baxter International Inc. (NYSE:BAX) traded up 0.11% during mid-day trading on Tuesday, hitting $63.72. The company had a trading volume of 579,903 shares. The firm has a market capitalization of $34.72 billion, a P/E ratio of 38.67 and a beta of 0.65. The firm has a 50-day moving average price of $62.89 and a 200 day moving average price of $59.41. Baxter International Inc. has a 12 month low of $43.13 and a 12 month high of $64.75.

Baxter International (NYSE:BAX) last released its quarterly earnings data on Wednesday, July 26th. The medical instruments supplier reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.06. Baxter International had a return on equity of 14.82% and a net margin of 8.85%. The firm had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.59 billion. During the same period last year, the business posted $0.46 EPS. Baxter International’s quarterly revenue was up .8% on a year-over-year basis. On average, equities research analysts forecast that Baxter International Inc. will post $2.39 earnings per share for the current fiscal year.

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Several research analysts recently weighed in on the company. Cowen and Company set a $68.00 price target on Baxter International and gave the company a “hold” rating in a research report on Sunday. Cantor Fitzgerald set a $70.00 price target on Baxter International and gave the company a “buy” rating in a research report on Wednesday, July 26th. Citigroup Inc. assumed coverage on Baxter International in a research report on Thursday, August 17th. They set a “neutral” rating and a $63.00 price target for the company. Zacks Investment Research cut Baxter International from a “buy” rating to a “hold” rating in a research report on Monday. Finally, Leerink Swann restated an “outperform” rating and issued a $75.00 price objective (up from $67.00) on shares of Baxter International in a research report on Thursday, July 27th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company’s stock. Baxter International has an average rating of “Buy” and an average price target of $65.69.

Baxter International Company Profile

Baxter International Inc, through its subsidiaries, provides renal and hospital products. The Company operates through two segments: Hospital Products and Renal. Its Hospital Products business manufactures sterile intravenous (IV) solutions and administration sets, premixed drugs and drug-reconstitution systems, pre-filled vials and syringes for injectable drugs, IV nutrition products, parenteral nutrition therapies, infusion pumps, inhalation anesthetics and biosurgery products.

Institutional Ownership by Quarter for Baxter International (NYSE:BAX)

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