Ownership Change: Starboard Value LP Has Decreased Its Holding in Baxter Intl INC (BAX) by $8.81 Million as Market Value Rose

Ownership Change: Starboard Value LP Has Decreased Its Holding in Baxter Intl INC (BAX) by $8.81 Million as Market Value Rose

Jeffrey Smith decreased its stake in Baxter Intl Inc (BAX) by 9.09% based on its latest 2016Q3 regulatory filing with the SEC. Starboard Value Lp sold 187,500 shares as the company’s stock rose 4.73% with the market. The hedge fund run by Jeffrey Smith held 1.88M shares of the medical and dental instruments company at the end of 2016Q3, valued at $89.25 million, down from 2.06M at the end of the previous reported quarter. Starboard Value Lp who had been investing in Baxter Intl Inc for a number of months, seems to be less bullish one the $25.61 billion market cap company. The stock is up 0.49% or $0.23 hitting $46.74, despite the negative news. About 2.06 million shares traded hands. Baxter International Inc (NYSE:BAX) has risen 5.87% since June 7, 2016 and is uptrending. It has underperformed by 1.55% the S&P500.

Jeffrey Smith founded Starboard Value in 2002 after obtaining a spin-off from Ramius. Starboard Value an activist hedge fund fundamentally oriented which has interest in small cap stocks Starboard Value Lp is a New York-based hedge fund that was founded by Jeffrey Smith. It had more than $2.57 billion assets under management in November, 2014. Taken from Starboard Value latest Adv, the fund reported to have 15 full and part-time employees. Among which 10 performing investment advisory and research functions. The hedge fund had between 11-25 clients.

Insitutional Activity: The institutional sentiment increased to 0.83 in Q3 2016. Its up 0.15, from 0.68 in 2016Q2. The ratio improved, as 48 funds sold all BAX shares owned while 343 reduced positions. 76 funds bought stakes while 249 increased positions. They now own 438.38 million shares or 0.26% more from 437.24 million shares in 2016Q2. Parametric Port Associate Ltd has 1.68 million shares for 0.12% of their US portfolio. State Board Of Administration Of Florida Retirement System accumulated 0.12% or 793,614 shares. Crawford Inv Counsel Incorporated holds 0.09% of its portfolio in Baxter International Inc (NYSE:BAX) for 51,886 shares. Atria Invs Limited Company accumulated 27,099 shares or 0.12% of the stock. Country Trust Savings Bank holds 76,620 shares or 0.19% of its portfolio. Parkside Financial Bank reported 740 shares or 0.02% of all its holdings. Northwestern Mutual Wealth Mgmt holds 0.05% of its portfolio in Baxter International Inc (NYSE:BAX) for 63,613 shares. New Century Investment Mngmt Inc accumulated 2.16% or 52,068 shares. Benedict Fincl Advisors accumulated 8,078 shares or 0.14% of the stock. Vanguard Incorporated holds 0.09% of its portfolio in Baxter International Inc (NYSE:BAX) for 31.36M shares. Cypress Lc (Wy), a Wyoming-based fund reported 280 shares. Moreover, Tower Rech Cap Limited Liability Company (Trc) has 0% invested in Baxter International Inc (NYSE:BAX) for 100 shares. Symphony Asset Mngmt Ltd Limited Liability Company holds 0.09% or 17,569 shares in its portfolio. Moreover, Riverhead Cap Mgmt Lc has 0.09% invested in Baxter International Inc (NYSE:BAX) for 28,421 shares. Legal & General Gp Plc accumulated 0.15% or 3.02 million shares.

Insider Transactions: Since November 18, 2016, the stock had 0 insider buys, and 1 sale for $201,588 net activity. 4,280 shares with value of $201,588 were sold by STORM KORNELIS J. on Friday, November 18.

Analysts await Baxter International Inc (NYSE:BAX) to report earnings on February, 7. They expect $0.52 earnings per share, up 20.93% or $0.09 from last year’s $0.43 per share. BAX’s profit will be $284.92M for 22.47 P/E if the $0.52 EPS becomes a reality. After $0.56 actual earnings per share reported by Baxter International Inc for the previous quarter, Wall Street now forecasts -7.14% negative EPS growth.

Another recent and important Baxter International Inc (NYSE:BAX) news was published by Businesswire.com which published an article titled: “Baxter International Inc. to Host Fourth Quarter 2016 Financial Results …” on January 06, 2017.

According to Zacks Investment Research, “Baxter engages in the worldwide development, manufacture and distribution of a diversified line of products, systems and services used primarily in the health-care field. The company’s products are used by hospitals, clinical and medical research laboratories, blood and dialysis centers, rehabilitation centers, nursing homes, doctors’ offices and by patients, at home, under physician supervision.”

Baxter International Inc (NYSE:BAX) Ratings Coverage

Out of 11 analysts covering Baxter International (NYSE:BAX), 5 rate it a “Buy”, 0 “Sell”, while 6 “Hold”. This means 45% are positive. Baxter International has been the topic of 20 analyst reports since July 30, 2015 according to StockzIntelligence Inc. The rating was upgraded by Piper Jaffray on Thursday, April 14 to “Overweight”. On Thursday, September 15 the stock rating was initiated by Barclays Capital with “Overweight”. Leerink Swann downgraded Baxter International Inc (NYSE:BAX) on Thursday, July 30 to “Market Perform” rating. The firm has “Overweight” rating by Barclays Capital given on Tuesday, August 11. As per Tuesday, September 22, the company rating was initiated by UBS. On Friday, July 31 the stock rating was downgraded by S&P Research to “Hold”. RBC Capital Markets maintained Baxter International Inc (NYSE:BAX) on Wednesday, February 3 with “Sector Perform” rating. Evercore initiated Baxter International Inc (NYSE:BAX) on Wednesday, May 4 with “Buy” rating. As per Wednesday, October 28, the company rating was maintained by Leerink Swann. The stock has “Neutral” rating given by JP Morgan on Monday, June 6.

BAX Company Profile

Baxter International Inc., incorporated on October 19, 1931, through its subsidiaries, provides a portfolio of essential renal and hospital products, including home, acute and in-center dialysis; sterile intravenous (IV) solutions; infusion systems and devices; parenteral nutrition; biosurgery products and anesthetics, and pharmacy automation, software and services. The Firm operates through two divisions: Hospital Products and Renal. The Company’s products are used by hospitals, kidney dialysis centers, nursing homes, rehabilitation centers, doctors’ offices and by patients at home under physician supervision. The Firm makes products in approximately 30 countries and sells them in approximately 120 countries.

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