Diamond Hill Capital Comments on Baxter International Inc

Author's Avatar
Jul 25, 2014

We sold our shares of medical supply manufacturer Baxter International, Inc. (BAX) after we marginally lowered our intrinsic value estimate to reflect an increased likelihood of more meaningful competition for its Hemophilia franchise. This resulted in an insufficient discount to our estimate of intrinsic value, and we exited the position.

From Diamond Hill Capital (Trades, Portfolio)'s Select Fund Second Quarter 2014 Commentary.