market folly

Dan Loeb's hedge fund firm Third Point has filed a Form 4 with the SEC regarding its position in Baxter International (BAX). 

Per the filing, Third Point sold 5 million BAX shares at $64.23 on November 6th.  After this sale, they still own over 36 million shares and one of their partners, Munib Islam, is on Baxter's board.

For more on this fund, we've also posted Third Point's Q3 letter here.

Per Google Finance, Baxter International "provides renal and hospital products. The Company operates through two segments: Hospital Products and Renal. Its Hospital Products business manufactures sterile intravenous (IV) solutions and administration sets, premixed drugs and drug-reconstitution systems, pre-filled vials and syringes for injectable drugs, IV nutrition products, parenteral nutrition therapies, infusion pumps, inhalation anesthetics and biosurgery products. The Renal business offers a portfolio to meet the needs of patients with end-stage renal disease, or irreversible kidney disease and acute kidney injuries, including technologies and therapies for peritoneal dialysis (PD), hemodialysis (HD), continuous renal replacement therapy (CRRT) and additional dialysis services. Its products are used by hospitals, kidney dialysis centers, nursing homes, rehabilitation centers, doctors' offices and by patients at home under physician supervision. "