Coho Partners Ltd. Purchases New Stake in Baxter International Inc. (NYSE:BAX)

Coho Partners Ltd. bought a new position in shares of Baxter International Inc. (NYSE:BAX - Free Report) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 1,507,215 shares of the medical instruments supplier's stock, valued at approximately $57,229,000. Baxter International comprises approximately 2.1% of Coho Partners Ltd.'s investment portfolio, making the stock its 28th biggest holding. Coho Partners Ltd. owned 0.30% of Baxter International at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Greenleaf Trust increased its stake in shares of Baxter International by 10.0% during the third quarter. Greenleaf Trust now owns 9,491 shares of the medical instruments supplier's stock valued at $360,000 after buying an additional 859 shares during the period. Home Federal Bank of Tennessee lifted its holdings in Baxter International by 5.8% during the third quarter. Home Federal Bank of Tennessee now owns 22,050 shares of the medical instruments supplier's stock worth $837,000 after buying an additional 1,200 shares during the period. Plimoth Trust Co. LLC bought a new stake in Baxter International during the 3rd quarter valued at $201,000. Everence Capital Management Inc. increased its holdings in shares of Baxter International by 138.1% in the 3rd quarter. Everence Capital Management Inc. now owns 36,912 shares of the medical instruments supplier's stock valued at $1,402,000 after acquiring an additional 21,410 shares during the period. Finally, Trust Point Inc. bought a new position in shares of Baxter International in the 3rd quarter worth $213,000. 90.19% of the stock is owned by hedge funds and other institutional investors.

Baxter International Stock Performance

Baxter International stock traded up $0.25 during mid-day trading on Thursday, hitting $36.72. The company had a trading volume of 2,767,227 shares, compared to its average volume of 4,087,645. The company has a market capitalization of $18.71 billion, a price-to-earnings ratio of 7.06, a P/E/G ratio of 1.28 and a beta of 0.59. Baxter International Inc. has a 12-month low of $31.75 and a 12-month high of $44.01. The company's fifty day moving average is $37.66 and its 200-day moving average is $36.50. The company has a current ratio of 1.40, a quick ratio of 0.91 and a debt-to-equity ratio of 1.35.

Baxter International (NYSE:BAX - Get Free Report) last released its quarterly earnings data on Tuesday, August 6th. The medical instruments supplier reported $0.68 earnings per share for the quarter, beating analysts' consensus estimates of $0.66 by $0.02. Baxter International had a net margin of 16.51% and a return on equity of 18.06%. The company had revenue of $3.81 billion during the quarter, compared to analysts' expectations of $3.75 billion. During the same quarter in the previous year, the company earned $0.55 earnings per share. The firm's revenue for the quarter was up 2.8% on a year-over-year basis. Equities research analysts predict that Baxter International Inc. will post 2.96 EPS for the current year.

Wall Street Analyst Weigh In

BAX has been the topic of a number of recent analyst reports. Evercore ISI lowered their price target on shares of Baxter International from $46.00 to $45.00 and set an "outperform" rating on the stock in a report on Tuesday, July 2nd. Morgan Stanley cut Baxter International from an "equal weight" rating to an "underweight" rating and lowered their price objective for the stock from $39.00 to $30.00 in a research report on Monday, July 15th. Citigroup upped their target price on Baxter International from $38.00 to $40.00 and gave the company a "neutral" rating in a research report on Tuesday, October 1st. Wells Fargo & Company dropped their price target on Baxter International from $44.00 to $40.00 and set an "equal weight" rating on the stock in a research note on Wednesday, August 7th. Finally, StockNews.com raised shares of Baxter International from a "hold" rating to a "buy" rating in a research report on Tuesday. One analyst has rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $42.00.

Baxter International Company Profile

Baxter International Inc, through its subsidiaries, develops and provides a portfolio of healthcare products worldwide. The company operates through four segments: Medical Products and Therapies, Healthcare Systems and Technologies, Pharmaceuticals, and Kidney Care. The company offers sterile intravenous (IV) solutions; infusion systems and devices; parenteral nutrition therapies; generic injectable pharmaceuticals; surgical hemostat and sealant products, advanced surgical equipment; smart bed systems; patient monitoring and diagnostic technologies; and respiratory health devices, as well as advanced equipment for the surgical space, including surgical video technologies, precision positioning devices, and other accessories.