Connor Clark & Lunn Investment Management Ltd. Makes New $17.50 Million Investment in Baxter International Inc. $BAX

Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Baxter International Inc. (NYSE:BAX) during the second quarter, HoldingsChannel reports. The fund purchased 820,729 shares of the medical instruments supplier’s stock, valued at approximately $17,498,000.

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

Analyst Ratings Changes

Several equities analysts have recently weighed in on BAX shares. The Goldman Sachs Group lifted their price objective on Baxter International from $19.00 to $21.00 and gave the company a “neutral” rating in a report on Wednesday, July 15th. Weiss Ratings raised Baxter International from a “sell (d-)” rating to a “sell (d)” rating in a research note on Friday, July 31st. Citigroup upgraded shares of Baxter International from a “sell” rating to a “neutral” rating and raised their target price for the stock from $17.00 to $28.00 in a report on Friday, July 31st. Barclays lifted 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. Finally, Zacks Research upgraded shares of Baxter International from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 11th. Two research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $22.45.

Baxter International Stock Performance

Shares of Baxter International stock opened at $26.27 on Wednesday. The firm has a market cap of $13.58 billion, a price-to-earnings ratio of -12.69, a price-to-earnings-growth ratio of 4.01 and a beta of 0.60. The stock’s 50-day moving average is $23.86 and its 200-day moving average is $20.45. Baxter International Inc. has a one year low of $15.73 and a one year high of $30.00. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.95 and a quick ratio of 1.32.

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

Baxter International Announces Dividend

The firm 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 dividend of $0.01 per share. 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%.

Baxter International 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.