59,180 Shares of Baxter International Inc. $BAX Purchased by Rakuten Investment Management Inc.

Rakuten Investment Management Inc. acquired a new position in Baxter International Inc. (NYSE:BAX) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 59,180 shares of the medical instruments supplier’s stock, valued at approximately $1,390,000.

Other large investors have also made changes to their positions in the company. Provenance Wealth Advisors LLC boosted its stake in Baxter International by 13,741.9% during the 3rd quarter. Provenance Wealth Advisors LLC now owns 4,291 shares of the medical instruments supplier’s stock valued at $103,000 after purchasing an additional 4,260 shares during the period. One Way Holdings LLC acquired a new stake in Baxter International in the 3rd quarter valued at approximately $588,000. Sumitomo Mitsui Trust Group Inc. increased its position in Baxter International by 7.1% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 30,529 shares of the medical instruments supplier’s stock worth $733,000 after buying an additional 2,031 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new position in Baxter International in the 3rd quarter worth approximately $3,173,000. Finally, ProShare Advisors LLC lifted its holdings in shares of Baxter International by 8.6% during the third quarter. ProShare Advisors LLC now owns 101,805 shares of the medical instruments supplier’s stock worth $2,443,000 after buying an additional 8,065 shares during the last quarter. Institutional investors and hedge funds own 90.19% of the company’s stock.

Baxter International Stock Performance

NYSE BAX opened at $25.73 on Friday. Baxter International Inc. has a twelve month low of $15.73 and a twelve month high of $30.00. The company has a quick ratio of 1.19, a current ratio of 1.79 and a debt-to-equity ratio of 1.20. The stock has a market cap of $13.31 billion, a P/E ratio of -18.25, a PEG ratio of 3.80 and a beta of 0.68. The company’s 50-day simple moving average is $24.50 and its 200 day simple moving average is $21.51.

Baxter International (NYSE:BAX) last announced its quarterly earnings results on Thursday, October 29th. The medical instruments supplier reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.06. The firm had revenue of $2.98 billion during the quarter, compared to analysts’ expectations of $2.91 billion. Baxter International had a negative net margin of 6.23% and a positive return on equity of 16.23%. The company’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.69 earnings per share. As a group, research analysts forecast that Baxter International Inc. will post 2.10 earnings per share for the current fiscal year.

Baxter International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, January 4th. Stockholders of record on Friday, November 27th will be issued a $0.01 dividend. The ex-dividend date of this dividend is Friday, November 27th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.2%. Baxter International’s dividend payout ratio is presently -2.84%.

Analyst Ratings Changes

BAX has been the subject of several research reports. Barclays began coverage on Baxter International in a research report on Wednesday, October 7th. They issued an “underweight” rating and a $20.00 price objective for the company. Citigroup dropped their target price on shares of Baxter International from $28.00 to $27.00 and set a “neutral” rating on the stock in a research report on Monday, October 5th. Jefferies Financial Group reiterated a “hold” rating and set a $25.00 target price on shares of Baxter International in a research note on Thursday, October 29th. The Goldman Sachs Group increased their price target on shares of Baxter International from $19.00 to $21.00 and gave the company a “neutral” rating in a report on Wednesday, July 15th. Finally, TD Cowen raised their price target on shares of Baxter International from $20.00 to $24.00 and gave the stock a “hold” rating in a research report on Monday, July 27th. One equities research analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, Baxter International currently has an average rating of “Reduce” and a consensus target price of $23.00.

About Baxter International

Baxter International is a global healthcare company that develops and supplies products used in hospitals, clinics and other care settings. Its offerings include intravenous solutions and administration sets, infusion pumps, medication-delivery systems, and products for surgical and hospital care.

The company also provides patient-monitoring and connected-care technologies, including products associated with Hillrom, which Baxter acquired in 2021. Its products and services support healthcare professionals and patients in countries around the world.

Founded in 1931, Baxter began by producing intravenous solutions.