Front Street Capital Management Inc. Buys Shares of 1,319,992 Baxter International Inc. $BAX

Key Points

• Front Street Capital Management acquired 1,319,992 Baxter International shares valued at approximately $28.1 million, making BAX its 12th-largest holding and representing about 3.2% of its portfolio.
• Institutional ownership remains high at 90.19%, with several major investment firms—including BlackRock and Pzena Investment Management—initiating sizable positions during the second quarter.
• Baxter’s latest quarterly results exceeded expectations, with adjusted EPS of $0.56 versus the $0.37 estimate and revenue of $2.96 billion. Despite recent analyst price-target increases, the consensus rating remains Hold, with an average target of $22.45.

Front Street Capital Management Inc. purchased a new position in shares of Baxter International Inc. (NYSE:BAX - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 1,319,992 shares of the medical instruments supplier's stock, valued at approximately $28,142,000. Baxter International makes up about 3.2% of Front Street Capital Management Inc.'s holdings, making the stock its 12th biggest position. Front Street Capital Management Inc. owned about 0.26% of Baxter International as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in BAX. BlackRock Inc. acquired a new position in shares of Baxter International during the second quarter valued at approximately $1,744,874,000. Pzena Investment Management LLC acquired a new stake in Baxter International in the second quarter worth approximately $1,392,098,000. Equity Investment Corp acquired a new stake in Baxter International in the second quarter worth approximately $146,815,000. Bank of New York Mellon Corp bought a new position in Baxter International during the 2nd quarter valued at $68,036,000. Finally, Edmond DE Rothschild Holding S.A. bought a new position in Baxter International during the 2nd quarter valued at $51,958,000. 90.19% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on BAX. UBS Group boosted their price objective on Baxter International from $19.00 to $25.00 and gave the stock a "hold" rating in a research note on Tuesday, July 28th. Wells Fargo & Company lifted their target price on Baxter International from $19.00 to $23.00 and gave the stock an "equal weight" rating in a report on Friday, July 31st. TD Cowen boosted their price target on shares of Baxter International from $20.00 to $24.00 and gave the stock a "hold" rating in a research report on Monday, July 27th. Stifel Nicolaus upped their price target on shares of Baxter International from $19.00 to $24.00 and gave the company a "hold" rating in a report on Tuesday, July 28th. Finally, Zacks Research upgraded shares of Baxter International from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 11th. Two analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $22.45.

Baxter International Price Performance

NYSE BAX opened at $26.50 on Tuesday. Baxter International Inc. has a 1 year low of $15.73 and a 1 year high of $30.00. The business's fifty day moving average is $23.74 and its two-hundred day moving average is $20.41. The stock has a market capitalization of $13.70 billion, a P/E ratio of -12.80, a P/E/G ratio of 3.99 and a beta of 0.60. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.32 and a current ratio of 1.95.

Baxter International (NYSE:BAX - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The medical instruments supplier reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.19. The business had revenue of $2.96 billion during the quarter, compared to analyst estimates of $2.80 billion. Baxter International had a positive return on equity of 16.57% and a negative net margin of 9.27%.The company's revenue was up 5.3% compared to the same quarter last year. During the same period last year, the company posted $0.59 EPS. Baxter International has set its FY 2026 guidance at 1.950-2.150 EPS. On average, research analysts forecast that Baxter International Inc. will post 2.04 earnings per share for the current fiscal year.

Baxter International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, August 28th will be issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.2%. The ex-dividend date is Friday, August 28th. Baxter International's payout ratio is presently -1.93%.

Baxter International Profile

Baxter International Inc is a global healthcare company that develops, manufactures and markets a broad portfolio of medical products, pharmaceutical therapies and biotechnology-based solutions. The company's primary business activities are organized around renal care, medication delivery, acute therapies, pharmacy automation, surgical care and biotechnology. Baxter's offerings are designed to support patient care in hospitals, dialysis centers, nursing homes and other healthcare facilities worldwide.

In the renal care segment, Baxter provides hemodialysis and peritoneal dialysis systems, water treatment equipment and related disposables, including dialyzers, bloodlines and catheters.

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