Synovus Financial Corp grew its holdings in shares of Baxter International Inc (NYSE:BAX) by 5.3% in the 4th quarter, Holdings Channel reports. The institutional investor owned 211,868 shares of the medical instruments supplier’s stock after acquiring an additional 10,653 shares during the period. Synovus Financial Corp’s holdings in Baxter International were worth $13,958,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Baxter International by 1.3% in the third quarter. Vanguard Group Inc. now owns 36,398,931 shares of the medical instruments supplier’s stock valued at $2,805,993,000 after buying an additional 470,198 shares during the period. Vanguard Group Inc boosted its holdings in shares of Baxter International by 1.3% in the 3rd quarter. Vanguard Group Inc now owns 36,398,931 shares of the medical instruments supplier’s stock valued at $2,805,993,000 after purchasing an additional 470,198 shares in the last quarter. FMR LLC lifted its stake in shares of Baxter International by 2.5% in the 3rd quarter. FMR LLC now owns 29,356,040 shares of the medical instruments supplier’s stock valued at $2,263,057,000 after acquiring an additional 719,013 shares during the last quarter. Morgan Stanley lifted its stake in shares of Baxter International by 267.9% in the 3rd quarter. Morgan Stanley now owns 10,570,520 shares of the medical instruments supplier’s stock valued at $814,880,000 after acquiring an additional 7,697,267 shares during the last quarter. Finally, Standard Life Aberdeen plc lifted its stake in shares of Baxter International by 121.2% in the 3rd quarter. Standard Life Aberdeen plc now owns 5,743,738 shares of the medical instruments supplier’s stock valued at $442,813,000 after acquiring an additional 3,146,868 shares during the last quarter. 84.01% of the stock is currently owned by institutional investors and hedge funds.

In other Baxter International news, Director John D. Forsyth sold 1,500 shares of Baxter International stock in a transaction on Thursday, December 13th. The shares were sold at an average price of $67.02, for a total value of $100,530.00. Following the completion of the transaction, the director now directly owns 31,640 shares of the company’s stock, valued at approximately $2,120,512.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Third Point Llc sold 8,000,000 shares of Baxter International stock in a transaction dated Monday, December 3rd. The stock was sold at an average price of $68.62, for a total transaction of $548,960,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 8,055,348 shares of company stock worth $552,892,722 over the last 90 days. Insiders own 0.07% of the company’s stock.

Several research analysts have recently weighed in on BAX shares. Barclays raised Baxter International from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $67.00 to $72.00 in a research report on Friday, February 1st. Piper Jaffray Companies reiterated an “overweight” rating and set a $80.00 price target on shares of Baxter International in a research note on Friday, February 1st. Zacks Investment Research downgraded Baxter International from a “hold” rating to a “sell” rating in a research note on Tuesday, January 29th. Morgan Stanley upgraded Baxter International from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $66.00 to $77.00 in a research note on Wednesday, January 2nd. Finally, Citigroup upgraded Baxter International from a “neutral” rating to a “buy” rating and lifted their price target for the company from $69.00 to $76.00 in a research note on Wednesday, January 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $76.41.

BAX stock traded up $0.03 during trading on Tuesday, reaching $73.46. The company had a trading volume of 661,441 shares, compared to its average volume of 3,420,882. The company has a market cap of $39.08 billion, a P/E ratio of 24.09, a PEG ratio of 1.82 and a beta of 0.99. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.60 and a quick ratio of 1.96. Baxter International Inc has a 52 week low of $61.05 and a 52 week high of $78.38.

Baxter International (NYSE:BAX) last posted its quarterly earnings results on Thursday, January 31st. The medical instruments supplier reported $0.78 EPS for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.05. Baxter International had a net margin of 14.60% and a return on equity of 18.46%. The firm had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $2.80 billion. On average, equities research analysts expect that Baxter International Inc will post 3.27 earnings per share for the current fiscal year.

Baxter International declared that its board has approved a share repurchase program on Tuesday, November 13th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the medical instruments supplier to purchase up to 6.1% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

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Baxter International Company Profile

Baxter International Inc provides a portfolio of healthcare products. The company operates through North and South America; Europe, Middle East and Africa; and Asia-Pacific segments. It offers peritoneal dialysis and hemodialysis, and additional dialysis therapies and services; renal replacement therapies and other organ support therapies focused in the intensive care unit; sterile intravenous (IV) solutions, IV therapies, infusion pumps, administration sets, and drug reconstitution devices; and parenteral nutrition therapies.

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

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