RNC Capital Management LLC Raises Stake in Baxter International Inc. $BAX

RNC Capital Management LLC grew its position in Baxter International Inc. (NYSE:BAX) by 1.7% during the 2nd quarter, Holdings Channel reports. The fund owned 138,325 shares of the medical instruments supplier’s stock after buying an additional 2,277 shares during the quarter. RNC Capital Management LLC’s holdings in Baxter International were worth $4,188,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Dodge & Cox boosted its holdings in shares of Baxter International by 2.1% in the first quarter. Dodge & Cox now owns 51,458,925 shares of the medical instruments supplier’s stock valued at $1,761,439,000 after acquiring an additional 1,081,631 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in Baxter International by 1.1% during the first quarter. Ameriprise Financial Inc. now owns 7,540,942 shares of the medical instruments supplier’s stock worth $258,140,000 after buying an additional 83,973 shares in the last quarter. Sound Shore Management Inc. CT boosted its holdings in Baxter International by 13.7% during the first quarter. Sound Shore Management Inc. CT now owns 2,825,902 shares of the medical instruments supplier’s stock worth $96,731,000 after buying an additional 341,321 shares in the last quarter. Amundi boosted its holdings in Baxter International by 9.5% during the first quarter. Amundi now owns 1,444,705 shares of the medical instruments supplier’s stock worth $45,292,000 after buying an additional 125,431 shares in the last quarter. Finally, ARGA Investment Management LP boosted its holdings in Baxter International by 52.5% during the first quarter. ARGA Investment Management LP now owns 1,327,946 shares of the medical instruments supplier’s stock worth $45,456,000 after buying an additional 457,345 shares in the last quarter. Hedge funds and other institutional investors own 90.19% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on BAX. Evercore ISI decreased their price objective on shares of Baxter International from $33.00 to $31.00 and set an “outperform” rating on the stock in a report on Tuesday, October 7th. UBS Group cut their target price on shares of Baxter International from $35.00 to $24.00 and set a “neutral” rating for the company in a research report on Monday, August 4th. Stifel Nicolaus reissued a “hold” rating and issued a $25.00 price objective (down previously from $36.00) on shares of Baxter International in a research report on Monday, August 4th. Barclays lowered their target price on shares of Baxter International from $41.00 to $36.00 and set an “overweight” rating for the company in a report on Monday, August 4th. Finally, The Goldman Sachs Group downgraded shares of Baxter International from a “buy” rating to a “neutral” rating and set a $25.00 target price for the company. in a research note on Friday, August 1st. Three investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $28.89.

Baxter International Stock Performance

Shares of BAX opened at $22.92 on Thursday. Baxter International Inc. has a one year low of $21.33 and a one year high of $37.74. The company has a 50-day moving average of $23.49 and a two-hundred day moving average of $27.21. The stock has a market cap of $11.77 billion, a price-to-earnings ratio of -76.38, a PEG ratio of 0.74 and a beta of 0.58. The company has a debt-to-equity ratio of 1.30, a current ratio of 2.30 and a quick ratio of 1.49.

Baxter International (NYSE:BAX) last posted its quarterly earnings results on Thursday, July 31st. The medical instruments supplier reported $0.59 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.01). Baxter International had a positive return on equity of 16.96% and a negative net margin of 1.42%.The company had revenue of $2.81 billion for the quarter, compared to analyst estimates of $2.82 billion. During the same quarter in the prior year, the business posted $0.68 earnings per share. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. Baxter International has set its Q3 2025 guidance at 0.580-0.620 EPS. FY 2025 guidance at 2.420-2.520 EPS. On average, equities research analysts expect that Baxter International Inc. will post 2.48 earnings per share for the current year.

Baxter International Profile

Baxter International Inc, through its subsidiaries, develops and provides a portfolio of healthcare products worldwide. The company operates through four segments: Medical Products and Therapies, Healthcare Systems and Technologies, Pharmaceuticals, and Kidney Care. The company offers sterile intravenous (IV) solutions; infusion systems and devices; parenteral nutrition therapies; generic injectable pharmaceuticals; surgical hemostat and sealant products, advanced surgical equipment; smart bed systems; patient monitoring and diagnostic technologies; and respiratory health devices, as well as advanced equipment for the surgical space, including surgical video technologies, precision positioning devices, and other accessories.