Tocqueville Asset Management L.P. Invests $30.60 Million in Baxter International Inc. $BAX

Tocqueville Asset Management L.P. acquired a new stake in Baxter International Inc. (NYSE:BAX) during the second quarter, according to its most recent 13F filing with the SEC. The fund acquired 1,435,460 shares of the medical instruments supplier’s stock, valued at approximately $30,604,000.

Several other institutional investors have also added to or reduced their stakes in the business. Basepoint Wealth LLC bought a new position in Baxter International during the fourth quarter worth about $26,000. Imprint Wealth LLC purchased a new position in shares of Baxter International in the third quarter worth about $27,000. MUFG Securities EMEA plc bought a new stake in shares of Baxter International in the second quarter valued at approximately $46,000. Los Angeles Capital Management LLC purchased a new stake in shares of Baxter International during the 4th quarter valued at approximately $46,000. Finally, Versant Capital Management Inc lifted its stake in shares of 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 valued at $51,000 after buying an additional 2,043 shares in the last quarter. 90.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. The Goldman Sachs Group lifted their price objective on shares of Baxter International from $19.00 to $21.00 and gave the company a “neutral” rating in a research note on Wednesday, July 15th. Citigroup upgraded Baxter International from a “sell” rating to a “neutral” rating and increased their target price for the stock from $17.00 to $28.00 in a research report on Friday, July 31st. UBS Group lifted their price target on Baxter International from $19.00 to $25.00 and gave the company a “hold” rating in a research report on Tuesday, July 28th. TD Cowen boosted their price objective on Baxter International from $20.00 to $24.00 and gave the company a “hold” rating in a research note on Monday, July 27th. Finally, Zacks Research raised Baxter International from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 11th. Two equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Baxter International currently has a consensus rating of “Hold” and a consensus price target of $22.45.

Baxter International Price Performance

Shares of NYSE:BAX opened at $26.61 on Thursday. The company has a 50 day moving average of $23.40 and a 200 day moving average of $20.27. The company has a current ratio of 1.95, a quick ratio of 1.32 and a debt-to-equity ratio of 1.39. The stock has a market cap of $13.76 billion, a P/E ratio of -12.86, a P/E/G ratio of 3.92 and a beta of 0.60. Baxter International Inc. has a 12 month low of $15.73 and a 12 month high of $30.00.

Baxter International (NYSE:BAX) last posted its 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 negative net margin of 9.27% and a positive return on equity of 16.57%. The business had revenue of $2.96 billion for the quarter, compared to analysts’ expectations of $2.80 billion. During the same period in the prior year, the company posted $0.59 EPS. The business’s revenue for the quarter 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. As a group, sell-side analysts forecast that Baxter International Inc. will post 2.04 EPS for the current fiscal year.

Baxter International Announces Dividend

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

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.