Is Baxter International Inc. (BAX) A Good Stock To Buy?

Since Baxter International Inc. (NYSE:BAX) has experienced declining sentiment from the aggregate hedge fund industry, logic holds that there was a specific group of funds that decided to sell off their entire stakes last quarter. It’s worth mentioning that First Eagle Investment Management said goodbye to the largest investment of the 700 funds monitored by Insider Monkey, valued at close to $96.3 million in stock, and Ian Cumming and Joseph Steinberg’s Leucadia National was right behind this move, as the fund sold off about $31.7 million worth of shares.

Let’s now review hedge fund activity in other stocks – not necessarily in the same industry as Baxter International Inc. (NYSE:BAX) but similarly valued. These stocks are China Unicom (Hong Kong) Limited (ADR) (NYSE:CHU), CSX Corporation (NYSE:CSX), Barrick Gold Corporation (USA) (NYSE:ABX), and Tyson Foods, Inc. (NYSE:TSN). This group of stocks’ market values are similar to BAX’s market value.

As you can see these stocks had an average of 34 funds long the stock at the end of September and the average amount invested in these stocks was $1.03 billion. That figure was $4.35 billion in Baxter’s case. Barrick Gold Corporation (USA) (NYSE:ABX) is the most popular stock in this table. On the other hand China Unicom (Hong Kong) Limited (ADR) (NYSE:CHU) is the least popular one with only 12 bullish hedge fund positions. Compared to these stocks Baxter International Inc. (NYSE:BAX) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.