NewEdge Wealth LLC Acquires Shares of 43,244 Baxter International Inc. $BAX

Key Points

• NewEdge Wealth acquired 43,244 Baxter International shares worth approximately $922,000 during the second quarter. Institutional investors own 90.19% of the company, with several other funds also initiating or expanding positions.
• Analysts broadly maintain a cautious outlook: Baxter has a consensus “Hold” rating from 13 analysts, with an average price target of $22.45, despite several firms raising their targets to between $23 and $25.
• Baxter exceeded quarterly earnings expectations, reporting $0.56 in adjusted EPS versus a $0.37 consensus estimate and $2.96 billion in revenue, up 5.3% year over year. The company also declared a quarterly dividend of $0.01 per share.

NewEdge Wealth LLC bought a new position in shares of Baxter International Inc. (NYSE:BAX - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 43,244 shares of the medical instruments supplier's stock, valued at approximately $922,000.

Other hedge funds also recently made changes to their positions in the company. Basepoint Wealth LLC bought a new stake in shares of Baxter International in the fourth quarter valued at approximately $26,000. Imprint Wealth LLC bought a new position in Baxter International during the 3rd quarter worth $27,000. MUFG Securities EMEA plc bought a new position in Baxter International during the 2nd quarter worth $46,000. Los Angeles Capital Management LLC acquired a new position in Baxter International in the 4th quarter valued at $46,000. Finally, Versant Capital Management Inc raised its holdings in Baxter International by 552.2% in the 2nd quarter. Versant Capital Management Inc now owns 2,413 shares of the medical instruments supplier's stock valued at $51,000 after acquiring an additional 2,043 shares in the last quarter. 90.19% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently issued reports on BAX shares. Zacks Research raised Baxter International from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 11th. Wells Fargo & Company upped their price objective on shares of Baxter International from $19.00 to $23.00 and gave the stock an "equal weight" rating in a research report on Friday, July 31st. Stifel Nicolaus increased their price objective on shares of Baxter International from $19.00 to $24.00 and gave the stock a "hold" rating in a research note on Tuesday, July 28th. UBS Group raised their target price on shares of Baxter International from $19.00 to $25.00 and gave the company a "hold" rating in a report on Tuesday, July 28th. Finally, TD Cowen boosted their target price on shares of Baxter International from $20.00 to $24.00 and gave the company a "hold" rating in a research report on Monday, July 27th. 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. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $22.45.

Baxter International Price Performance

Baxter International stock opened at $26.37 on Friday. 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 Inc. has a 52 week low of $15.73 and a 52 week high of $30.00. The stock has a market capitalization of $13.63 billion, a P/E ratio of -12.74, a price-to-earnings-growth ratio of 3.99 and a beta of 0.60. The stock has a fifty day moving average of $23.62 and a 200-day moving average of $20.36.

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, beating the consensus estimate of $0.37 by $0.19. Baxter International had a positive return on equity of 16.57% and a negative net margin of 9.27%.The business had revenue of $2.96 billion for the quarter, compared to analyst estimates of $2.80 billion. During the same period last year, the firm posted $0.59 earnings per share. Baxter International's revenue 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. On average, sell-side analysts expect that Baxter International Inc. will post 2.04 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 Thursday, October 1st. Stockholders of record on Friday, August 28th will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date is Friday, August 28th. Baxter International's dividend payout ratio (DPR) is presently -1.93%.

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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