NewEdge Wealth LLC Invests $922,000 in Baxter International Inc. $BAX

NewEdge Wealth LLC purchased a new stake in Baxter International Inc. (NYSE:BAX) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 43,244 shares of the medical instruments supplier’s stock, valued at approximately $922,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Pzena Investment Management LLC acquired a new position in Baxter International in the 2nd quarter worth about $1,392,098,000. AMG National Trust Bank acquired a new stake in shares of Baxter International during the second quarter valued at about $2,522,000. BlackRock Inc. bought a new stake in shares of Baxter International during the second quarter worth about $1,744,874,000. Equity Investment Corp bought a new stake in shares of Baxter International during the second quarter worth about $146,815,000. Finally, Geode Capital Management LLC increased its stake in shares of Baxter International by 7.8% in the fourth quarter. Geode Capital Management LLC now owns 13,510,205 shares of the medical instruments supplier’s stock valued at $257,174,000 after buying an additional 972,891 shares during the period. Institutional investors own 90.19% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on BAX. Wells Fargo & Company lifted their target price 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. Barclays raised their price target on shares of Baxter International from $25.00 to $27.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. Stifel Nicolaus lifted their price target on shares of Baxter International from $19.00 to $24.00 and gave the stock a “hold” rating in a report on Tuesday, July 28th. Wall Street Zen raised shares of Baxter International from a “hold” rating to a “buy” rating in a research note on Saturday, August 1st. Finally, UBS Group raised their target price on Baxter International from $19.00 to $25.00 and gave the stock a “hold” rating in a research report on Tuesday, July 28th. Two equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $22.45.

Baxter International Stock Down 0.2%

BAX 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 fifty-two week low of $15.73 and a fifty-two week high of $30.00. The stock’s 50 day simple moving average is $23.62 and its 200 day simple moving average is $20.36. The company has a market cap 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.

Baxter International (NYSE:BAX) last announced its quarterly earnings results 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. The business had revenue of $2.96 billion for the quarter, compared to analysts’ expectations of $2.80 billion. Baxter International had a negative net margin of 9.27% and a positive return on equity of 16.57%. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.59 EPS. Baxter International has set its FY 2026 guidance at 1.950-2.150 EPS. On average, research analysts expect that Baxter International Inc. will post 2.04 earnings per share for the current fiscal year.

Baxter International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, August 28th will be given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a 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%.

About Baxter International

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.