Pegasus Partners Ltd. Purchases New Position in Baxter International Inc (BAX)
Pegasus Partners Ltd. purchased a new position in shares of Baxter International Inc (NYSE:BAX) in the fourth quarter, HoldingsChannel reports. The firm purchased 20,917 shares of the medical instruments supplier’s stock, valued at approximately $1,352,000.
Other large investors have also modified their holdings of the company. Colony Group LLC acquired a new stake in Baxter International during the 3rd quarter worth $6,966,000. Toronto Dominion Bank boosted its stake in Baxter International by 8.6% during the 3rd quarter. Toronto Dominion Bank now owns 212,015 shares of the medical instruments supplier’s stock worth $13,304,000 after purchasing an additional 16,835 shares during the period. Johnson Financial Group Inc. boosted its stake in Baxter International by 15.5% during the 3rd quarter. Johnson Financial Group Inc. now owns 21,038 shares of the medical instruments supplier’s stock worth $1,320,000 after purchasing an additional 2,825 shares during the period. Sawyer & Company Inc acquired a new stake in Baxter International during the 4th quarter worth $327,000. Finally, Canada Pension Plan Investment Board boosted its stake in Baxter International by 35.8% during the 3rd quarter. Canada Pension Plan Investment Board now owns 1,413,054 shares of the medical instruments supplier’s stock worth $88,669,000 after purchasing an additional 372,500 shares during the period. Hedge funds and other institutional investors own 83.12% of the company’s stock.
Shares of Baxter International Inc (BAX) opened at $64.63 on Wednesday. Baxter International Inc has a 52 week low of $48.58 and a 52 week high of $72.58. The company has a market cap of $35,414.07, a price-to-earnings ratio of 26.10, a PEG ratio of 1.84 and a beta of 0.78. The company has a quick ratio of 2.22, a current ratio of 2.80 and a debt-to-equity ratio of 0.37.
BAX has been the subject of several recent analyst reports. Zacks Investment Research upgraded shares of Baxter International from a “hold” rating to a “buy” rating and set a $72.00 target price for the company in a research note on Tuesday, October 24th. Raymond James Financial upgraded shares of Baxter International from a “market perform” rating to an “outperform” rating and set a $73.00 target price for the company in a research note on Wednesday, January 3rd. Royal Bank of Canada restated a “hold” rating and issued a $66.00 target price on shares of Baxter International in a research note on Wednesday, November 22nd. JPMorgan Chase & Co. upgraded shares of Baxter International from a “neutral” rating to an “overweight” rating in a research note on Tuesday, January 2nd. Finally, Bank of America restated a “hold” rating on shares of Baxter International in a research note on Wednesday, November 22nd. Seven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. Baxter International has an average rating of “Buy” and a consensus price target of $70.36.
In other news, SVP Jeanne K. Mason sold 33,350 shares of the stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $65.25, for a total value of $2,176,087.50. Following the completion of the transaction, the senior vice president now owns 124,609 shares in the company, valued at approximately $8,130,737.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Giuseppe Accogli sold 28,641 shares of the stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $67.00, for a total transaction of $1,918,947.00. The disclosure for this sale can be found here. Company insiders own 0.05% of the company’s stock.
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About Baxter International
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.
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