Third Point is Buying Baxter International Inc. (NYSE:BAX) Shares

In a just published Form 13, filed with the US Securities and Exchange Commission (SEC),...
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In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Baxter International Inc. (NYSE:BAX) reported that Third Point has picked up 46,008,080 of common stock as of 2017-03-01.

The acquisition brings the aggregate amount owned by Third Point to a total of 46,008,080 representing a 8.5% stake in the company.

For those not familiar with the company, Baxter International Inc., 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 Company operates through two segments: Hospital Products and Renal. Its Hospital Products business manufactures IV solutions and administration sets, premixed drugs and drug-reconstitution systems, pre-filled vials and syringes for injectable drugs, IV nutrition products, infusion pumps, inhalation anesthetics, and biosurgery products. The business also provides products and services related to pharmacy compounding, and drug formulation. The Renal business provides products and services to treat end-stage renal disease, or irreversible kidney failure and acute kidney injuries.

A glance at Baxter International Inc. (NYSE:BAX)’s key stats reveals a current market capitalization of 27.80 billion based on 540.08 million shares outstanding and a price at last close of $50.90 per share.

Looking at insider activity, there are a few transactions worth noting.

Specifically, on 2016-05-23, Almeida picked up 11,691 at a purchase price of $42.75. This brings their total holding to 11,691 as of the date of the filing.

On the sell side, the most recent transaction saw Third unload 5,901,767 shares at a sale price of $50.35. This brings their total holding to 46,001,790.

It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Baxter International Inc. (NYSE:BAX) as things move forward to see if its progress aligns with these transactions.

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