Baxter International Inc. $BAX Shares Purchased by Calamos Advisors LLC

Key Points

• Calamos Advisors increased its Baxter stake by 32.8% in the third quarter, adding 58,850 shares to bring its holdings to 238,341 shares, valued at about $5.72 million. Institutional investors collectively own 90.19% of the stock.
• Analyst sentiment is cautious: the consensus rating is “Reduce”, based on one Buy, ten Holds and three Sells, with an average price target of $23.
• Baxter reported quarterly EPS of $0.58, beating estimates of $0.52, while revenue rose 5% year over year to $2.98 billion.

Calamos Advisors LLC lifted its position in Baxter International Inc. (NYSE:BAX - Free Report) by 32.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 238,341 shares of the medical instruments supplier's stock after purchasing an additional 58,850 shares during the period. Calamos Advisors LLC's holdings in Baxter International were worth $5,720,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Kestra Advisory Services LLC grew its holdings in Baxter International by 16.1% in the 3rd quarter. Kestra Advisory Services LLC now owns 38,003 shares of the medical instruments supplier's stock worth $912,000 after acquiring an additional 5,256 shares during the last quarter. Commonwealth Equity Services LLC increased its position in shares of Baxter International by 37.3% in the third quarter. Commonwealth Equity Services LLC now owns 171,400 shares of the medical instruments supplier's stock valued at $4,114,000 after acquiring an additional 46,535 shares during the period. Chicago Partners Investment Group LLC purchased a new position in shares of Baxter International in the third quarter valued at about $766,000. Rakuten Investment Management Inc. bought a new position in shares of Baxter International during the third quarter valued at about $1,390,000. Finally, Provenance Wealth Advisors LLC raised its stake in shares of Baxter International by 13,741.9% during the third quarter. Provenance Wealth Advisors LLC now owns 4,291 shares of the medical instruments supplier's stock valued at $103,000 after acquiring an additional 4,260 shares during the last quarter. 90.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on BAX shares. JPMorgan Chase & Co. dropped their target price on shares of Baxter International from $26.00 to $25.00 and set a "neutral" rating for the company in a report on Friday, October 30th. Barclays initiated coverage on Baxter International in a report on Wednesday, October 7th. They set an "underweight" rating and a $20.00 price target on the stock. Stifel Nicolaus boosted their price target on Baxter International from $19.00 to $24.00 and gave the company a "hold" rating in a report on Tuesday, July 28th. Citigroup lowered their price target on Baxter International from $28.00 to $27.00 and set a "neutral" rating for the company in a research report on Monday, October 5th. Finally, Wolfe Research began coverage on Baxter International in a report on Tuesday, October 20th. They issued a "peer perform" rating for the company. One investment analyst has rated the stock with a Buy rating, ten have given a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Reduce" and an average price target of $23.00.

Baxter International Stock Performance

NYSE:BAX opened at $25.73 on Monday. The stock has a market cap of $13.31 billion, a P/E ratio of -18.25, a price-to-earnings-growth ratio of 3.80 and a beta of 0.68. The firm's fifty day simple moving average is $24.50 and its 200 day simple moving average is $21.51. Baxter International Inc. has a twelve month low of $15.73 and a twelve month high of $30.00. 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 issued its quarterly earnings data on Thursday, October 29th. The medical instruments supplier reported $0.58 earnings per share (EPS) for the quarter, beating 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 business had revenue of $2.98 billion for the quarter, compared to the consensus estimate of $2.91 billion. During the same period in the previous year, the firm earned $0.69 EPS. The company's quarterly revenue was up 5.0% compared to the same quarter last year. As a group, research analysts predict that Baxter International Inc. will post 2.10 EPS for the current year.

Baxter International Announces Dividend

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

Baxter International Profile

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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