Sumitomo Mitsui DS Asset Management Company Ltd Buys 24,141 Shares of Baxter International Inc. $BAX

Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of Baxter International Inc. (NYSE:BAX) by 164.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,826 shares of the medical instruments supplier’s stock after purchasing an additional 24,141 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Baxter International were worth $932,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of BAX. BlackRock Inc. acquired a new stake in Baxter International in the 2nd quarter valued at about $1,744,874,000. Pzena Investment Management LLC purchased a new position in shares of Baxter International in the 2nd quarter valued at about $1,392,098,000. Equity Investment Corp acquired a new position in shares of Baxter International during the second quarter worth about $146,815,000. Bank of America Corp DE acquired a new position in shares of Baxter International during the second quarter worth about $132,993,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Baxter International during the second quarter worth about $68,036,000. 90.19% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently weighed in on BAX. Weiss Ratings cut shares of Baxter International from a “sell (d)” rating to a “sell (d-)” rating in a report on Thursday, October 8th. UBS Group lifted their price target on shares of Baxter International from $19.00 to $25.00 and gave the stock a “hold” rating in a research note on Tuesday, July 28th. Wolfe Research began coverage on shares of Baxter International in a research note on Tuesday. They issued a “peer perform” rating for the company. Wells Fargo & Company boosted their price target on shares of Baxter International from $19.00 to $23.00 and gave the stock an “equal weight” rating in a report on Friday, July 31st. Finally, Zacks Research raised shares of Baxter International from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 11th. One investment analyst has rated the stock with a Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $21.73.

Baxter International Stock Down 1.3%

Shares of NYSE BAX opened at $25.32 on Friday. The company has a market capitalization of $13.09 billion, a price-to-earnings ratio of 12.51, a price-to-earnings-growth ratio of 3.88 and a beta of 0.65. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.95 and a quick ratio of 1.32. The business has a 50-day moving average of $24.76 and a two-hundred day moving average of $22.15. Baxter International Inc. has a 1 year low of $15.73 and a 1 year high of $30.00.

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

Baxter International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Friday, August 28th were issued 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 was Friday, August 28th. Baxter International’s dividend payout ratio is -1.93%.

About Baxter International

Baxter International Inc is a global medical products and healthcare technology company headquartered in Deerfield, Illinois. The company develops, manufactures and distributes products used in hospitals, clinics, ambulatory care centers and other healthcare settings.

Baxter’s portfolio has included intravenous therapies and administration systems, infusion pumps, connected-care technologies, surgical products, patient monitoring equipment and products used in medication preparation and delivery.