AEGON ASSET MANAGEMENT UK Plc Purchases New Shares in Baxter International Inc. $BAX

Key Points

• AEGON Asset Management UK purchased 534,356 Baxter International shares in the third quarter, worth about $12.8 million and representing 0.10% of the company. Institutional investors and hedge funds collectively own 90.19% of Baxter.
• Baxter reported quarterly EPS of $0.58, beating the $0.52 analyst consensus, while revenue of $2.98 billion also exceeded estimates and rose 5% year over year.
• Analyst sentiment remains cautious: MarketBeat reports an average “Reduce” rating and a consensus price target of $23.27; most covering analysts rate the stock Hold.

AEGON ASSET MANAGEMENT UK Plc purchased a new position in Baxter International Inc. (NYSE:BAX - Free Report) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 534,356 shares of the medical instruments supplier's stock, valued at approximately $12,825,000. AEGON ASSET MANAGEMENT UK Plc owned 0.10% of Baxter International as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the company. BlackRock Inc. bought a new position in Baxter International during the 2nd quarter valued at $1,744,874,000. Pzena Investment Management LLC bought a new stake in shares of Baxter International in the 2nd quarter worth about $1,392,098,000. Equity Investment Corp acquired a new stake in shares of Baxter International in the 2nd quarter valued at about $146,815,000. Bank of America Corp DE acquired a new stake in shares of Baxter International in the 2nd quarter valued at about $132,993,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Baxter International in the 2nd quarter valued at about $68,036,000. Institutional investors and hedge funds own 90.19% of the company's stock.

Baxter International Price Performance

NYSE BAX opened at $26.40 on Tuesday. The company has a 50 day moving average price of $24.51 and a two-hundred day moving average price of $21.54. Baxter International Inc. has a 12-month low of $15.73 and a 12-month high of $30.00. The stock has a market capitalization of $13.66 billion, a PE ratio of 13.66, a price-to-earnings-growth ratio of 3.90 and a beta of 0.68. The company has a quick ratio of 1.19, a current ratio of 1.79 and a debt-to-equity ratio of 1.20.

Baxter International (NYSE:BAX - Get Free Report) last released its earnings results on Thursday, October 29th. The medical instruments supplier reported $0.58 earnings per share for the quarter, topping analysts' consensus estimates of $0.52 by $0.06. Baxter International had a negative net margin of 6.23% and a positive return on equity of 16.23%. The firm had revenue of $2.98 billion during the quarter, compared to analyst estimates of $2.91 billion. During the same quarter in the previous year, the business earned $0.69 EPS. The business's revenue was up 5.0% on a year-over-year basis. As a group, equities analysts predict that Baxter International Inc. will post 2.10 earnings per share for the current fiscal year.

Baxter International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 4th. Investors of record on Friday, November 27th will be given a dividend of $0.01 per share. The ex-dividend date is Friday, November 27th. This represents a $0.04 annualized dividend and a yield of 0.2%. Baxter International's dividend payout ratio is -2.84%.

Analyst Ratings Changes

BAX has been the subject of a number of research reports. JPMorgan Chase & Co. decreased their price target on Baxter International from $26.00 to $25.00 and set a "neutral" rating for the company in a research note on Friday, October 30th. UBS Group upped their price objective on Baxter International from $19.00 to $25.00 and gave the company a "hold" rating in a research note on Tuesday, July 28th. Jefferies Financial Group reaffirmed a "hold" rating and set a $25.00 target price on shares of Baxter International in a report on Thursday, October 29th. Wall Street Zen raised Baxter International from a "hold" rating to a "buy" rating in a report on Saturday, October 31st. Finally, TD Cowen lifted their target price on Baxter International from $20.00 to $24.00 and gave the stock a "hold" rating in a research report on Monday, July 27th. One analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat, Baxter International has an average rating of "Reduce" and a consensus target price of $23.27.

About Baxter International

Baxter International is a global healthcare company that develops and supplies products used in hospitals, clinics and other care settings. Its offerings include intravenous solutions and administration sets, infusion pumps, medication-delivery systems, and products for surgical and hospital care.

The company also provides patient-monitoring and connected-care technologies, including products associated with Hillrom, which Baxter acquired in 2021. Its products and services support healthcare professionals and patients in countries around the world.

Founded in 1931, Baxter began by producing intravenous solutions.

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