Sapphire Star Partners Lp Lowers stake in Baxter International Inc (BAX)

Baxter International Inc (BAX) : Sapphire Star Partners Lp reduced its stake in Baxter International Inc by 37.68% during the most recent quarter end. The investment management company now holds a total of 10,930 shares of Baxter International Inc which is valued at $492,069 after selling 6,608 shares in Baxter International Inc , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.Baxter International Inc makes up approximately 0.60% of Sapphire Star Partners Lp’s portfolio.

Other Hedge Funds, Including , Partnerre Asset Management Corp boosted its stake in BAX in the latest quarter, The investment management firm added 100 additional shares and now holds a total of 3,756 shares of Baxter International Inc which is valued at $177,283. Baxter International Inc makes up approx 0.09% of Partnerre Asset Management Corp’s portfolio.

Baxter International Inc closed down -0.12 points or -0.25% at $46.98 with 23,99,253 shares getting traded on Monday. Post opening the session at $47.1, the shares hit an intraday low of $46.8 and an intraday high of $47.19 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 $0.56 EPS for the quarter, beating the analyst consensus estimate by $ 0.11 according to the earnings call on Oct 25, 2016. Analyst had a consensus of $0.45. The company had revenue of $2558.00 million for the quarter, compared to analysts expectations of $2548.94 million. The company’s revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.41 EPS.

Investors should note that on Nov 8, 2016, Baxter International Inc announced a cash dividend of $0.1300. The company’s management has announced Nov 30, 2016 as the ex-dividend date and fixed the record date on Dec 2, 2016. The payable date has been fixed on Jan 3, 2017.

Many Wall Street Analysts have commented on Baxter International Inc. Company shares were Reiterated by RBC Capital Mkts on Oct 26, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 55 from a previous price target of $50 .Baxter International Inc was Initiated by Wells Fargo to “Outperform” on Oct 13, 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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