Coho Partners Ltd. Invests $57.23 Million in Baxter International Inc. (NYSE:BAX)

Coho Partners Ltd. acquired a new stake in Baxter International Inc. (NYSE:BAX) during the third quarter, HoldingsChannel.com reports. The institutional investor acquired 1,507,215 shares of the medical instruments supplier’s stock, valued at approximately $57,229,000. Baxter International comprises about 2.1% of Coho Partners Ltd.’s portfolio, making the stock its 28th largest position.

Several other large investors have also modified their holdings of BAX. First PREMIER Bank acquired a new stake in shares of Baxter International during the 3rd quarter worth about $25,000. Innealta Capital LLC acquired a new position in shares of Baxter International during the second quarter worth about $27,000. LRI Investments LLC purchased a new position in Baxter International in the 1st quarter worth approximately $39,000. Versant Capital Management Inc grew its holdings 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 in the last quarter. Finally, Archer Investment Corp increased its position in shares of Baxter International by 20.8% during the second quarter. Archer Investment Corp now owns 2,235 shares of the medical instruments supplier’s stock worth $75,000 after acquiring an additional 385 shares during the last quarter. 90.19% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BAX has been the subject of a number of research analyst reports. Wells Fargo & Company dropped their price target on shares of 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. StockNews.com raised Baxter International from a “hold” rating to a “buy” rating in a report on Tuesday. Morgan Stanley lowered shares of Baxter International from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $39.00 to $30.00 in a research note on Monday, July 15th. Evercore ISI reduced their price target on Baxter International from $46.00 to $45.00 and set an “outperform” rating for the company in a research report on Tuesday, July 2nd. Finally, JPMorgan Chase & Co. reduced 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 note on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $42.00.

Baxter International Trading Down 0.3 %

Shares of NYSE BAX opened at $36.47 on Thursday. The company has a quick ratio of 0.91, a current ratio of 1.40 and a debt-to-equity ratio of 1.35. Baxter International Inc. has a 12 month low of $31.75 and a 12 month high of $44.01. The company has a market cap of $18.58 billion, a price-to-earnings ratio of 7.01, a P/E/G ratio of 1.28 and a beta of 0.59. The business has a fifty day simple moving average of $37.66 and a 200-day simple moving average of $36.50.

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