RNC Capital Management LLC Increases Holdings in Baxter International Inc. $BAX

Key Points

• RNC Capital Management LLC increased its stake in Baxter International by 74%, owning 136,048 shares valued at approximately $4.65 million.
• Baxter International reported a quarterly earnings per share (EPS) of $0.59, which fell short of analysts' expectations, and announced a dividend of $0.17 per share to be paid on October 1st.
• Several brokerages have adjusted their price targets for Baxter International, with recommendations varying from "buy" to "hold" and a consensus average target price of $30.11.

RNC Capital Management LLC increased its position in Baxter International Inc. (NYSE:BAX - Free Report) by 74.0% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 136,048 shares of the medical instruments supplier's stock after purchasing an additional 57,855 shares during the quarter. RNC Capital Management LLC's holdings in Baxter International were worth $4,657,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Horizon Investments LLC increased its holdings in shares of Baxter International by 5.0% in the 1st quarter. Horizon Investments LLC now owns 7,438 shares of the medical instruments supplier's stock worth $255,000 after purchasing an additional 351 shares in the last quarter. Rothschild Investment LLC increased its holdings in shares of Baxter International by 3.4% in the 1st quarter. Rothschild Investment LLC now owns 14,479 shares of the medical instruments supplier's stock worth $496,000 after purchasing an additional 481 shares in the last quarter. Archer Investment Corp increased its holdings in shares of Baxter International by 20.5% in the 1st quarter. Archer Investment Corp now owns 2,935 shares of the medical instruments supplier's stock worth $100,000 after purchasing an additional 500 shares in the last quarter. Home Federal Bank of Tennessee increased its holdings in shares of Baxter International by 2.5% in the 1st quarter. Home Federal Bank of Tennessee now owns 22,600 shares of the medical instruments supplier's stock worth $774,000 after purchasing an additional 550 shares in the last quarter. Finally, Private Trust Co. NA increased its holdings in shares of Baxter International by 17.3% in the 1st quarter. Private Trust Co. NA now owns 3,822 shares of the medical instruments supplier's stock worth $131,000 after purchasing an additional 565 shares in the last quarter. Hedge funds and other institutional investors own 90.19% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Citigroup reduced their target price on Baxter International from $34.00 to $32.00 and set a "neutral" rating for the company in a report on Wednesday, July 9th. UBS Group reduced their target price on Baxter International from $35.00 to $24.00 and set a "neutral" rating for the company in a report on Monday, August 4th. Wall Street Zen downgraded Baxter International from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. Morgan Stanley dropped their price target on Baxter International from $28.00 to $27.00 and set an "underweight" rating on the stock in a research note on Tuesday, July 15th. Finally, Stifel Nicolaus restated a "hold" rating and issued a $25.00 price target (down from $36.00) on shares of Baxter International in a research note on Monday, August 4th. Three analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Baxter International presently has an average rating of "Hold" and an average target price of $30.11.

Baxter International Stock Performance

NYSE BAX traded down $0.49 on Friday, hitting $24.00. 5,749,897 shares of the company traded hands, compared to its average volume of 6,076,219. The company has a market capitalization of $12.33 billion, a price-to-earnings ratio of -80.00, a P/E/G ratio of 0.80 and a beta of 0.61. The company has a current ratio of 2.30, a quick ratio of 1.49 and a debt-to-equity ratio of 1.30. The business's 50 day moving average price is $25.60 and its 200-day moving average price is $29.39. Baxter International Inc. has a 52-week low of $21.33 and a 52-week high of $40.49.

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

Baxter International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, August 29th will be given a dividend of $0.17 per share. The ex-dividend date is Friday, August 29th. This represents a $0.68 annualized dividend and a yield of 2.8%. Baxter International's payout ratio is -226.67%.

Baxter International Profile

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.