Valeo Financial Advisors LLC Purchases New Position in Baxter International Inc. (NYSE:BAX)

Valeo Financial Advisors LLC acquired a new position in Baxter International Inc. (NYSE:BAX) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 5,737 shares of the medical instruments supplier’s stock, valued at approximately $218,000.

Other large investors have also recently made changes to their positions in the company. LSV Asset Management bought a new stake in shares of Baxter International during the 2nd quarter valued at about $140,296,000. Bank of New York Mellon Corp boosted its position in Baxter International by 73.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 6,772,533 shares of the medical instruments supplier’s stock valued at $226,541,000 after acquiring an additional 2,862,626 shares in the last quarter. Thompson Siegel & Walmsley LLC purchased a new position in shares of Baxter International during the 2nd quarter worth approximately $67,263,000. Shapiro Capital Management LLC raised its position in shares of Baxter International by 19.7% in the 2nd quarter. Shapiro Capital Management LLC now owns 3,285,048 shares of the medical instruments supplier’s stock worth $109,885,000 after acquiring an additional 541,575 shares in the last quarter. Finally, ARGA Investment Management LP purchased a new position in shares of Baxter International in the 1st quarter valued at approximately $10,951,000. 90.19% of the stock is currently owned by institutional investors.

Baxter International Stock Down 0.7 %

BAX stock opened at $36.65 on Wednesday. The stock has a market capitalization of $18.68 billion, a P/E ratio of 7.05, a P/E/G ratio of 1.28 and a beta of 0.59. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.40 and a quick ratio of 0.91. Baxter International Inc. has a 1-year low of $31.01 and a 1-year high of $44.01. The business has a fifty day moving average price of $37.63 and a 200-day moving average price of $36.72.

Baxter International (NYSE:BAX) last issued its earnings results on Tuesday, August 6th. The medical instruments supplier reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.02. The business had revenue of $3.81 billion during the quarter, compared to analyst estimates of $3.75 billion. Baxter International had a return on equity of 18.06% and a net margin of 16.51%. Baxter International’s revenue was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.55 EPS. Equities analysts forecast that Baxter International Inc. will post 2.96 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on BAX. The Goldman Sachs Group increased their price objective on Baxter International from $36.00 to $40.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Citigroup lifted their price target on shares of Baxter International from $38.00 to $40.00 and gave the company a “neutral” rating in a research report on Tuesday, October 1st. Morgan Stanley cut shares of Baxter International from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $39.00 to $30.00 in a report on Monday, July 15th. Wells Fargo & Company lowered their target price on shares of Baxter International from $44.00 to $40.00 and set an “equal weight” rating for the company in a report on Wednesday, August 7th. Finally, Evercore ISI cut their price target on Baxter International from $46.00 to $45.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 2nd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Baxter International presently has a consensus rating of “Hold” and a consensus price target of $42.00.

About Baxter International

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.