Front Street Capital Management Inc. Makes New Investment in Baxter International Inc. $BAX

Front Street Capital Management Inc. bought a new stake in shares of Baxter International Inc. (NYSE:BAX) during the 2nd quarter, HoldingsChannel.com reports. The firm bought 1,319,992 shares of the medical instruments supplier’s stock, valued at approximately $28,142,000. Baxter International accounts for 3.2% of Front Street Capital Management Inc.’s portfolio, making the stock its 12th largest position.

Other hedge funds and other institutional investors have also modified their holdings of the company. Imprint Wealth LLC purchased a new position in shares of Baxter International during the third quarter valued at $27,000. Basepoint Wealth LLC acquired a new position in Baxter International during the fourth quarter valued at $26,000. MUFG Securities EMEA plc purchased a new stake in Baxter International in the 2nd quarter worth about $46,000. Los Angeles Capital Management LLC purchased a new stake in Baxter International in the 4th quarter worth about $46,000. Finally, Versant Capital Management Inc boosted its position in Baxter International by 552.2% during the 2nd 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 during the period. Institutional investors and hedge funds own 90.19% of the company’s stock.

Baxter International Stock Up 0.6%

BAX opened at $26.50 on Tuesday. Baxter International Inc. has a fifty-two week low of $15.73 and a fifty-two week high of $30.00. The business has a 50-day moving average of $23.74 and a 200-day moving average of $20.41. 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 company has a market capitalization of $13.70 billion, a PE ratio of -12.80, a price-to-earnings-growth ratio of 3.99 and a beta of 0.60.

Baxter International (NYSE:BAX) last announced its quarterly earnings results on Thursday, July 30th. The medical instruments supplier reported $0.56 EPS for the quarter, beating 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 quarter in the previous year, the business posted $0.59 EPS. The firm’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. Equities research analysts forecast that Baxter International Inc. will post 2.04 EPS for the current fiscal year.

Baxter International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, August 28th will be given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend is Friday, August 28th. Baxter International’s payout ratio is currently -1.93%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Wells Fargo & Company upped their target price on Baxter International from $19.00 to $23.00 and gave the company an “equal weight” rating in a report on Friday, July 31st. UBS Group raised their price target on shares of Baxter International from $19.00 to $25.00 and gave the stock a “hold” rating in a report on Tuesday, July 28th. Stifel Nicolaus boosted their price objective on shares of Baxter International from $19.00 to $24.00 and gave the company a “hold” rating in a research report on Tuesday, July 28th. Weiss Ratings upgraded shares of Baxter International from a “sell (d-)” rating to a “sell (d)” rating in a research note on Friday, July 31st. Finally, The Goldman Sachs Group increased their target price on shares of Baxter International from $19.00 to $21.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 15th. Two analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $22.45.

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.