Equity Investment Corpga Lowers stake in Baxter International Inc (BAX)

Baxter International Inc (BAX) : Equity Investment Corpga reduced its stake in Baxter International Inc by 27.68% during the most recent quarter end. The investment management company now holds a total of 1,289,842 shares of Baxter International Inc which is valued at $62,067,197 after selling 493,781 shares in Baxter International Inc , the firm said in a disclosure report filed with the SEC on Aug 2, 2016.Baxter International Inc makes up approximately 1.87% of Equity Investment Corpga’s portfolio.

Other Hedge Funds, Including , Wedbush Securities Inc sold out all of its stake in BAX during the most recent quarter. The investment firm sold 7,479 shares of BAX which is valued $359,889.Everence Capital Management Inc reduced its stake in BAX by selling 7,746 shares or 38.58% in the most recent quarter. The Hedge Fund company now holds 12,331 shares of BAX which is valued at $593,368. Baxter International Inc makes up approx 0.18% of Everence Capital Management Inc’s portfolio.Lmr Partners Llp reduced its stake in BAX by selling 472,766 shares or 95.43% in the most recent quarter. The Hedge Fund company now holds 22,649 shares of BAX which is valued at $1,087,605. Baxter International Inc makes up approx 0.16% of Lmr Partners Llp’s portfolio.Creative Planning reduced its stake in BAX by selling 6,663 shares or 18.81% in the most recent quarter. The Hedge Fund company now holds 28,755 shares of BAX which is valued at $1,346,309. Baxter International Inc makes up approx 0.01% of Creative Planning’s portfolio.

Baxter International Inc closed down -0.08 points or -0.17% at $47.98 with 26,09,589 shares getting traded on Monday. Post opening the session at $48.08, the shares hit an intraday low of $47.93 and an intraday high of $48.31 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Baxter International Inc reported $0.46 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Jul 26, 2016. Analyst had a consensus of $0.40. The company had revenue of $2585.00 million for the quarter, compared to analysts expectations of $2516.16 million. The company’s revenue was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.00 EPS.

Investors should note that on Jul 19, 2016, Baxter International Inc announced a cash dividend of $0.1300. The company’s management has announced Aug 31, 2016 as the ex-dividend date and fixed the record date on Sep 2, 2016. The payable date has been fixed on Oct 3, 2016.

Many Wall Street Analysts have commented on Baxter International Inc. Company shares were Reiterated by RBC Capital Mkts on Jul 27, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 50 from a previous price target of $47 .Baxter International Inc was Resumed by JP Morgan to “Neutral” on Jun 6, 2016.

Baxter International Inc. (Baxter) is a diversified healthcare company. The Company operates in two segments: BioScience segment which include three commercial franchises: Hemophilia BioTherapeutics and BioSurgery and Medical Products segment which include four commercial franchises: Fluid Systems Renal Specialty Pharmaceuticals and BioPharma Solutions. Its BioScience processes recombinant and plasma-based proteins to treat hemophilia and other bleeding disorders; plasma-based therapies to treat immune deficiencies alpha-1 antitrypsin deficiency burns and shock and other chronic and acute blood-related conditions and biosurgery products. Its Medical Products manufactures intravenous (IV) solutions and administration sets premixed drugs and drug-reconstitution systems pre-filled vials and syringes for injectable drugs IV nutrition products infusion pumps and inhalation anesthetics. Its products are used in hospitals kidney dialysis centers and nursing homes among others.

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