Sawtooth Asset Management Lowers stake in Baxter International Inc (BAX)

Baxter International Inc (BAX) : Sawtooth Asset Management reduced its stake in Baxter International Inc by 80.04% during the most recent quarter end. The investment management company now holds a total of 21,019 shares of Baxter International Inc which is valued at $929,460 after selling 84,303 shares in Baxter International Inc , the firm said in a disclosure report filed with the SEC on Apr 26, 2016.Baxter International Inc makes up approximately 0.57% of Sawtooth Asset Management’s portfolio.

Baxter International Inc opened for trading at $44.39 and hit $44.72 on the upside on Monday, eventually ending the session at $44.71, with a gain of 1.11% or 0.49 points. The heightened volatility saw the trading volume jump to 69,68,985 shares. Company has a market cap of $24,495 M.

Other Hedge Funds, Including , Mawer Investment Management Ltd. reduced its stake in BAX by selling 510 shares or 0.07% in the most recent quarter. The Hedge Fund company now holds 732,370 shares of BAX which is valued at $32,385,401. Baxter International Inc makes up approx 0.37% of Mawer Investment Management Ltd.’s portfolio. Moody Aldrich Partners sold out all of its stake in BAX during the most recent quarter. The investment firm sold 158,570 shares of BAX which is valued $7,011,965.Umb Bank N Amo reduced its stake in BAX by selling 2,733 shares or 7.95% in the most recent quarter. The Hedge Fund company now holds 31,634 shares of BAX which is valued at $1,370,385. Baxter International Inc makes up approx 0.06% of Umb Bank N Amo’s portfolio.Raymond James Trust N.a. boosted its stake in BAX in the latest quarter, The investment management firm added 39,745 additional shares and now holds a total of 55,711 shares of Baxter International Inc which is valued at $2,413,401. Baxter International Inc makes up approx 0.21% of Raymond James Trust N.a.’s portfolio.Palisade Asset Management boosted its stake in BAX in the latest quarter, The investment management firm added 120 additional shares and now holds a total of 139,399 shares of Baxter International Inc which is valued at $5,950,943. Baxter International Inc makes up approx 1.15% of Palisade Asset Management’s portfolio.

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.

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. Company shares were Reiterated by RBC Capital Mkts on Feb 3, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 40 from a previous price target of $37 .

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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