First Merchants Corp increased its position in shares of Baxter International Inc. (NYSE:BAX) by 43.1% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 33,361 shares of the medical instruments supplier’s stock after buying an additional 10,055 shares during the quarter. First Merchants Corp’s holdings in Baxter International were worth $2,093,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Baker Ellis Asset Management LLC purchased a new position in Baxter International during the 2nd quarter worth approximately $109,000. Acrospire Investment Management LLC grew its stake in Baxter International by 71.3% during the 2nd quarter. Acrospire Investment Management LLC now owns 2,402 shares of the medical instruments supplier’s stock worth $145,000 after buying an additional 1,000 shares during the last quarter. Harvest Fund Management Co. Ltd grew its stake in Baxter International by 8.4% during the 2nd quarter. Harvest Fund Management Co. Ltd now owns 2,928 shares of the medical instruments supplier’s stock worth $177,000 after buying an additional 226 shares during the last quarter. Captrust Financial Advisors purchased a new position in Baxter International during the 2nd quarter worth approximately $188,000. Finally, Salem Investment Counselors Inc. grew its stake in Baxter International by 400.0% during the 1st quarter. Salem Investment Counselors Inc. now owns 3,800 shares of the medical instruments supplier’s stock worth $198,000 after buying an additional 3,040 shares during the last quarter. Hedge funds and other institutional investors own 83.77% of the company’s stock.

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In other Baxter International news, SVP Giuseppe Accogli sold 12,670 shares of Baxter International stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $60.96, for a total value of $772,363.20. Following the sale, the senior vice president now owns 33,286 shares of the company’s stock, valued at $2,029,114.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Carole J. Shapazian sold 4,020 shares of Baxter International stock in a transaction dated Thursday, August 24th. The stock was sold at an average price of $61.61, for a total transaction of $247,672.20. Following the completion of the sale, the director now directly owns 13,868 shares in the company, valued at approximately $854,407.48. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,050 shares of company stock worth $2,158,587. Insiders own 0.05% of the company’s stock.

BAX has been the topic of a number of research reports. Royal Bank Of Canada restated a “hold” rating and set a $60.00 price target on shares of Baxter International in a research note on Friday, September 1st. Zacks Investment Research upgraded Baxter International from a “hold” rating to a “buy” rating and set a $69.00 price target on the stock in a research note on Tuesday, October 10th. UBS AG raised their price target on Baxter International from $57.00 to $62.00 and gave the stock a “neutral” rating in a research note on Friday, July 28th. Morgan Stanley lifted their target price on Baxter International from $59.00 to $62.00 and gave the company an “equal weight” rating in a research note on Thursday, October 26th. Finally, Barclays PLC lifted their target price on Baxter International from $64.00 to $70.00 and gave the company an “overweight” rating in a research note on Thursday, July 27th. Six research analysts have rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the company’s stock. Baxter International presently has a consensus rating of “Buy” and an average price target of $67.00.

Baxter International Inc. (BAX) traded up $0.83 during trading on Friday, hitting $64.90. The company had a trading volume of 1,628,237 shares, compared to its average volume of 2,469,448. The stock has a market capitalization of $35,359.59, a P/E ratio of 26.82, a PEG ratio of 2.17 and a beta of 0.68. The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.42 and a current ratio of 3.01. Baxter International Inc. has a 12-month low of $43.13 and a 12-month high of $65.70.

Baxter International (NYSE:BAX) last announced its quarterly earnings data on Wednesday, October 25th. The medical instruments supplier reported $0.64 EPS for the quarter, topping the consensus estimate of $0.59 by $0.05. The business had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.66 billion. Baxter International had a net margin of 9.88% and a return on equity of 15.32%. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.56 earnings per share. research analysts expect that Baxter International Inc. will post 2.43 EPS for the current fiscal year.

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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