Western Pacific Wealth Management LP Makes New Investment in Baxter International Inc. (NYSE:BAX)

Western Pacific Wealth Management LP purchased a new stake in Baxter International Inc. (NYSE:BAX) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 3,000 shares of the medical instruments supplier’s stock, valued at approximately $114,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BAX. Bank of New York Mellon Corp grew its holdings 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 buying an additional 2,862,626 shares in the last quarter. LSV Asset Management bought a new position in Baxter International during the second quarter valued at approximately $140,296,000. Shapiro Capital Management LLC raised its position in 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 purchasing an additional 541,575 shares during the period. Thompson Siegel & Walmsley LLC bought a new stake in Baxter International in the second quarter worth $67,263,000. Finally, Coho Partners Ltd. purchased a new stake in Baxter International during the third quarter valued at about $57,229,000. 90.19% of the stock is currently owned by institutional investors.

Baxter International Stock Down 0.2 %

NYSE:BAX opened at $36.04 on Friday. 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 firm’s 50-day moving average price is $37.50 and its 200-day moving average price is $36.16. The company has a market capitalization of $18.39 billion, a PE ratio of 7.42, a P/E/G ratio of 1.21 and a beta of 0.60. 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 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. Baxter International had a net margin of 16.51% and a return on equity of 18.06%. The business had revenue of $3.81 billion for the quarter, compared to analysts’ expectations of $3.75 billion. During the same quarter in the prior year, the company earned $0.55 earnings per share. The business’s revenue was up 2.8% compared to the same quarter last year. On average, equities analysts predict that Baxter International Inc. will post 2.96 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. StockNews.com upgraded Baxter International from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. Citigroup lifted their target price on shares of Baxter International from $38.00 to $40.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 1st. The Goldman Sachs Group increased their price target on shares of Baxter International from $36.00 to $40.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. Wells Fargo & Company decreased their price objective on shares of Baxter International from $44.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 7th. Finally, Morgan Stanley downgraded shares of Baxter International from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $39.00 to $30.00 in a research note on Monday, July 15th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $41.20.

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.