Progressive Investment Management Corp buys $3.4 Million stake in Baxter International Inc (BAX)

Baxter International Inc (BAX) : Progressive Investment Management Corp scooped up 15,438 additional shares in Baxter International Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 75,008 shares of Baxter International Inc which is valued at $3.4 Million.Baxter International Inc makes up approximately 3.50% of Progressive Investment Management Corp’s portfolio.

Other Hedge Funds, Including , Tredje Ap-fonden boosted its stake in BAX in the latest quarter, The investment management firm added 63,356 additional shares and now holds a total of 74,111 shares of Baxter International Inc which is valued at $3.4 Million. Baxter International Inc makes up approx 0.16% of Tredje Ap-fonden’s portfolio.Meeder Asset Management Inc reduced its stake in BAX by selling 18,816 shares or 40.19% in the most recent quarter. The Hedge Fund company now holds 27,996 shares of BAX which is valued at $1.3 Million. Baxter International Inc makes up approx 0.12% of Meeder Asset Management Inc’s portfolio.Highlander Capital Management reduced its stake in BAX by selling 400 shares or 11.94% in the most recent quarter. The Hedge Fund company now holds 2,950 shares of BAX which is valued at $134,284. Baxter International Inc makes up approx 0.14% of Highlander Capital Management’s portfolio.

Baxter International Inc closed down -0.16 points or -0.37% at $43.5 with 1,07,47,349 shares getting traded on Wednesday. Post opening the session at $43.93, the shares hit an intraday low of $43.16 and an intraday high of $43.93 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, Baxter International Inc reported $0.36 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on Apr 26, 2016. Analyst had a consensus of $0.29. The company had revenue of $2375.00 million for the quarter, compared to analysts expectations of $2351.22 million. The company’s revenue was down -1.2 % 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 May 3, 2016, Baxter International Inc announced a cash dividend of $0.1300. The company’s management has announced Jun 1, 2016 as the ex-dividend date and fixed the record date on Jun 3, 2016. The payable date has been fixed on Jul 1, 2016.

Many Wall Street Analysts have commented on Baxter International Inc. Company shares were Reiterated by RBC Capital Mkts on Apr 27, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 47 from a previous price target of $40 .Baxter International Inc was Upgraded by Piper Jaffray to ” Overweight” on Apr 14, 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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