Baxter International Inc. $BAX Position Boosted by Park National Corp OH

Key Points

• Park National Corp OH significantly increased its stake in Baxter International by 2,691.4% during the 2nd quarter, acquiring a total of 219,512 shares valued at approximately $6.65 million.
• Multiple research analysts have revised their price targets for Baxter International, with UBS Group and Wells Fargo both lowering their targets to $24.00.
• Baxter International recently announced a $0.17 quarterly dividend, resulting in a 2.8% annualized yield, although the company's dividend payout ratio is notably negative at -226.67%.

Park National Corp OH boosted its position in Baxter International Inc. (NYSE:BAX - Free Report) by 2,691.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 219,512 shares of the medical instruments supplier's stock after buying an additional 211,648 shares during the quarter. Park National Corp OH's holdings in Baxter International were worth $6,647,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Dodge & Cox raised its holdings in shares of Baxter International by 2.1% during the first quarter. Dodge & Cox now owns 51,458,925 shares of the medical instruments supplier's stock valued at $1,761,439,000 after acquiring an additional 1,081,631 shares in the last quarter. ARGA Investment Management LP grew its stake in shares of Baxter International by 52.5% in the first quarter. ARGA Investment Management LP now owns 1,327,946 shares of the medical instruments supplier's stock worth $45,456,000 after acquiring an additional 457,345 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Baxter International by 11,821.6% in the first quarter. GAMMA Investing LLC now owns 387,689 shares of the medical instruments supplier's stock worth $13,271,000 after acquiring an additional 384,437 shares during the last quarter. Sound Shore Management Inc. CT grew its stake in shares of Baxter International by 13.7% in the first quarter. Sound Shore Management Inc. CT now owns 2,825,902 shares of the medical instruments supplier's stock worth $96,731,000 after acquiring an additional 341,321 shares during the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd bought a new position in shares of Baxter International in the first quarter worth about $8,426,000. Institutional investors own 90.19% of the company's stock.

Baxter International Stock Performance

Shares of BAX traded up $0.48 during midday trading on Thursday, reaching $23.68. 1,548,931 shares of the stock were exchanged, compared to its average volume of 5,384,863. The company has a debt-to-equity ratio of 1.30, a current ratio of 2.30 and a quick ratio of 1.49. Baxter International Inc. has a twelve month low of $21.33 and a twelve month high of $39.71. The business's 50-day moving average price is $25.21 and its 200 day moving average price is $29.16. The company has a market capitalization of $12.16 billion, a price-to-earnings ratio of -78.92, a PEG ratio of 0.78 and a beta of 0.61.

Baxter International (NYSE:BAX - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The medical instruments supplier reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.01). Baxter International had a positive return on equity of 16.96% and a negative net margin of 1.42%.The company had revenue of $2.81 billion for the quarter, compared to analyst estimates of $2.82 billion. During the same quarter in the prior year, the firm earned $0.68 earnings per share. The company's revenue for the quarter was up 4.3% on a year-over-year basis. Baxter International has set its Q3 2025 guidance at 0.580-0.620 EPS. FY 2025 guidance at 2.420-2.520 EPS. On average, sell-side analysts expect that Baxter International Inc. will post 2.48 EPS for the current fiscal year.

Baxter International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, August 29th will be issued a dividend of $0.17 per share. The ex-dividend date is Friday, August 29th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.9%. Baxter International's payout ratio is presently -226.67%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Barclays dropped their price objective on Baxter International from $41.00 to $36.00 and set an "overweight" rating for the company in a report on Monday, August 4th. Wells Fargo & Company reduced their target price on Baxter International from $33.00 to $24.00 and set an "equal weight" rating for the company in a report on Friday, August 1st. Morgan Stanley cut their price target on Baxter International from $28.00 to $27.00 and set an "underweight" rating for the company in a report on Tuesday, July 15th. UBS Group lowered their price objective on Baxter International from $35.00 to $24.00 and set a "neutral" rating for the company in a research report on Monday, August 4th. Finally, Citigroup lowered their price target on Baxter International from $34.00 to $32.00 and set a "neutral" rating for the company in a research report on Wednesday, July 9th. Three research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $30.11.

About Baxter International

Baxter International Inc, through its subsidiaries, develops and provides a portfolio of healthcare products worldwide. The company operates through four segments: Medical Products and Therapies, Healthcare Systems and Technologies, Pharmaceuticals, and Kidney Care. The company offers sterile intravenous (IV) solutions; infusion systems and devices; parenteral nutrition therapies; generic injectable pharmaceuticals; surgical hemostat and sealant products, advanced surgical equipment; smart bed systems; patient monitoring and diagnostic technologies; and respiratory health devices, as well as advanced equipment for the surgical space, including surgical video technologies, precision positioning devices, and other accessories.