DNB Asset Management AS Raises Stock Holdings in Baxter International Inc. $BAX

DNB Asset Management AS boosted its stake in shares of Baxter International Inc. (NYSE:BAX) by 304.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 398,118 shares of the medical instruments supplier’s stock after buying an additional 299,750 shares during the quarter. DNB Asset Management AS owned 0.08% of Baxter International worth $9,065,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Cooke & Bieler LP boosted its position in shares of Baxter International by 25.7% during the third quarter. Cooke & Bieler LP now owns 2,200,860 shares of the medical instruments supplier’s stock worth $50,114,000 after buying an additional 450,350 shares during the period. Greenhaven Associates Inc. bought a new stake in Baxter International during the 3rd quarter valued at $143,186,000. Cullen Capital Management LLC boosted its position in Baxter International by 10.4% during the 2nd quarter. Cullen Capital Management LLC now owns 1,651,542 shares of the medical instruments supplier’s stock worth $50,009,000 after acquiring an additional 155,415 shares during the period. Stoneridge Investment Partners LLC bought a new position in shares of Baxter International in the third quarter worth $2,128,000. Finally, Gabelli Funds LLC increased its holdings in shares of Baxter International by 20.6% during the second quarter. Gabelli Funds LLC now owns 574,700 shares of the medical instruments supplier’s stock valued at $17,402,000 after purchasing an additional 98,000 shares during the period. 90.19% of the stock is owned by hedge funds and other institutional investors.

Baxter International Stock Up 0.1%

Shares of NYSE:BAX opened at $20.39 on Friday. The firm has a 50 day simple moving average of $20.19 and a 200 day simple moving average of $21.03. Baxter International Inc. has a 52 week low of $17.40 and a 52 week high of $37.74. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.56 and a current ratio of 2.31. The company has a market cap of $10.49 billion, a PE ratio of -11.02, a price-to-earnings-growth ratio of 1.42 and a beta of 0.59.

Baxter International (NYSE:BAX) last announced its earnings results on Thursday, February 12th. The medical instruments supplier reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.09). Baxter International had a negative net margin of 8.51% and a positive return on equity of 16.95%. The firm had revenue of $2.97 billion for the quarter, compared to analyst estimates of $2.82 billion. During the same period last year, the firm earned $0.58 earnings per share. Baxter International’s revenue for the quarter was up 8.0% compared to the same quarter last year. Baxter International has set its FY 2026 guidance at 1.850-2.050 EPS. As a group, research 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 disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Friday, February 27th will be given a dividend of $0.01 per share. The ex-dividend date of this dividend is Friday, February 27th. This represents a $0.04 dividend on an annualized basis and a yield of 0.2%. Baxter International’s payout ratio is presently -2.16%.

Analyst Ratings Changes

BAX has been the topic of several research analyst reports. Barclays lowered their target price on shares of Baxter International from $30.00 to $25.00 and set an “overweight” rating on the stock in a research note on Friday, February 13th. Zacks Research downgraded Baxter International from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 20th. Wells Fargo & Company dropped their price objective on Baxter International from $21.00 to $19.00 and set an “equal weight” rating on the stock in a research note on Friday, December 12th. Evercore decreased their target price on Baxter International from $24.00 to $23.00 in a research note on Monday, January 5th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Baxter International in a research report on Wednesday, January 21st. Two analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $20.10.

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.