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

Connor Clark & Lunn Investment Management Ltd. bought a new stake in Baxter International Inc. (NYSE:BAX) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 820,729 shares of the medical instruments supplier’s stock, valued at approximately $17,498,000. Connor Clark & Lunn Investment Management Ltd. owned about 0.16% of Baxter International at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Baird Financial Group Inc. raised its position in Baxter International by 3.2% in the 2nd quarter. Baird Financial Group Inc. now owns 52,436 shares of the medical instruments supplier’s stock valued at $1,588,000 after purchasing an additional 1,604 shares during the last quarter. California State Teachers Retirement System raised its holdings in shares of Baxter International by 2.9% in the second quarter. California State Teachers Retirement System now owns 649,463 shares of the medical instruments supplier’s stock valued at $19,666,000 after buying an additional 18,439 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Baxter International by 1.3% in the second quarter. Ameriprise Financial Inc. now owns 7,638,629 shares of the medical instruments supplier’s stock valued at $231,304,000 after buying an additional 97,687 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S lifted its position in Baxter International by 21.4% during the 2nd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 24,356 shares of the medical instruments supplier’s stock worth $737,000 after buying an additional 4,293 shares in the last quarter. Finally, Captrust Financial Advisors grew its holdings in Baxter International by 5.5% during the 2nd quarter. Captrust Financial Advisors now owns 53,933 shares of the medical instruments supplier’s stock worth $1,633,000 after acquiring an additional 2,813 shares during the last quarter. 90.19% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have weighed in on BAX shares. Weiss Ratings raised shares of Baxter International from a “sell (d-)” rating to a “sell (d)” rating in a research note on Friday, July 31st. Citigroup upgraded Baxter International from a “sell” rating to a “neutral” rating and increased their price objective for the company from $17.00 to $28.00 in a research report on Friday, July 31st. UBS Group raised their price target on Baxter International from $19.00 to $25.00 and gave the company a “hold” rating in a report on Tuesday, July 28th. The Goldman Sachs Group lifted their price objective on Baxter International from $19.00 to $21.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 15th. Finally, Wells Fargo & Company boosted their price objective on Baxter International from $19.00 to $23.00 and gave the stock an “equal weight” rating in a report on Friday, July 31st. Two analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $22.45.

Baxter International Stock Performance

Shares of Baxter International stock opened at $26.27 on Wednesday. The firm has a fifty day moving average of $23.86 and a two-hundred day moving average of $20.45. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.32 and a current ratio of 1.95. The stock has a market capitalization of $13.58 billion, a price-to-earnings ratio of -12.69, a PEG ratio of 4.01 and a beta of 0.60. Baxter International Inc. has a 52 week low of $15.73 and a 52 week high of $30.00.

Baxter International (NYSE:BAX) last posted its quarterly earnings results 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 for the quarter, compared to analyst estimates of $2.80 billion. During the same period last year, the company earned $0.59 EPS. The firm’s revenue was up 5.3% on a year-over-year basis. Baxter International has set its FY 2026 guidance at 1.950-2.150 EPS. As a group, equities research analysts predict that Baxter International Inc. will post 2.04 EPS for the current year.

Baxter International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, August 28th will be given 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 is Friday, August 28th. Baxter International’s payout ratio is presently -1.93%.

Baxter International Company 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.