Hsbc Holdings PLC Buys New Shares in Baxter International Inc. $BAX

Key Points

• Hsbc Holdings PLC acquired 691,167 shares of Baxter International in the second quarter, valued at approximately $14.7 million and representing about 0.13% of the company.
• Several other institutional investors also initiated positions, and institutional investors and hedge funds now own approximately 90.19% of Baxter’s stock.
• Baxter’s latest quarterly results exceeded expectations, with adjusted EPS of $0.56 versus the $0.37 consensus and revenue of $2.96 billion. Despite improved analyst ratings, the stock carries a consensus “Hold” rating with an average price target of $22.45.

Hsbc Holdings PLC bought a new position in Baxter International Inc. (NYSE:BAX - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 691,167 shares of the medical instruments supplier's stock, valued at approximately $14,748,000. Hsbc Holdings PLC owned about 0.13% of Baxter International at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of BAX. EFG International AG acquired a new stake in shares of Baxter International during the second quarter worth about $67,000. Legal & General Group Plc purchased a new stake in shares of Baxter International in the 2nd quarter valued at $20,777,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Baxter International in the second quarter worth $8,098,000. Jones Financial Companies Lllp purchased a new position in shares of Baxter International during the second quarter worth $26,000. Finally, Front Street Capital Management Inc. acquired a new position in Baxter International during the second quarter valued at $28,142,000. 90.19% of the stock is owned by institutional investors and hedge funds.

Baxter International Stock Down 2.0%

NYSE BAX opened at $25.97 on Friday. The business has a fifty day moving average price of $24.12 and a 200 day moving average price of $20.51. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.32 and a current ratio of 1.95. The company has a market cap of $13.43 billion, a P/E ratio of -12.55, a P/E/G ratio of 4.01 and a beta of 0.60. Baxter International Inc. has a one year low of $15.73 and a one year high of $30.00.

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

Baxter International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, August 28th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend is Friday, August 28th. Baxter International's dividend payout ratio (DPR) is currently -1.93%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on BAX shares. Wall Street Zen upgraded Baxter International from a "hold" rating to a "buy" rating in a research note on Saturday, August 1st. Citigroup upgraded Baxter International from a "sell" rating to a "neutral" rating and raised their target price for the company from $17.00 to $28.00 in a research report on Friday, July 31st. Weiss Ratings raised Baxter International from a "sell (d-)" rating to a "sell (d)" rating in a report on Friday, July 31st. Zacks Research upgraded Baxter International from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 11th. Finally, UBS Group upped their target price on Baxter International from $19.00 to $25.00 and gave the stock a "hold" rating in a research note on Tuesday, July 28th. Two research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Baxter International has a consensus rating of "Hold" and an average target price of $22.45.

Baxter International Company 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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