Manning & Napier Advisors LLC Sells 51,029 Shares of Baxter International Inc. $BAX

Manning & Napier Advisors LLC trimmed its holdings in Baxter International Inc. (NYSE:BAX) by 11.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 404,514 shares of the medical instruments supplier’s stock after selling 51,029 shares during the period. Manning & Napier Advisors LLC owned about 0.08% of Baxter International worth $9,211,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Dodge & Cox grew its position in Baxter International by 1.3% in the second quarter. Dodge & Cox now owns 52,121,620 shares of the medical instruments supplier’s stock valued at $1,578,243,000 after purchasing an additional 662,695 shares in the last quarter. Geode Capital Management LLC raised its holdings in Baxter International by 2.6% during the second quarter. Geode Capital Management LLC now owns 12,882,960 shares of the medical instruments supplier’s stock worth $388,416,000 after acquiring an additional 326,652 shares in the last quarter. Ameriprise Financial Inc. boosted its position in Baxter International by 1.3% during 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 purchasing an additional 97,687 shares during the last quarter. Russell Investments Group Ltd. increased its position in shares of Baxter International by 13.4% during the 2nd quarter. Russell Investments Group Ltd. now owns 1,900,828 shares of the medical instruments supplier’s stock worth $57,568,000 after purchasing an additional 224,804 shares during the last quarter. Finally, Cooke & Bieler LP raised its stake in shares of Baxter International by 10.8% during the 2nd quarter. Cooke & Bieler LP now owns 1,750,510 shares of the medical instruments supplier’s stock worth $53,005,000 after purchasing an additional 170,560 shares in the last quarter. 90.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on BAX shares. UBS Group decreased their price objective on shares of Baxter International from $24.00 to $21.00 and set a “neutral” rating for the company in a research report on Friday, October 31st. Barclays dropped their price objective on Baxter International from $36.00 to $30.00 and set an “overweight” rating on the stock in a research note on Friday, January 9th. Weiss Ratings reiterated a “sell (d)” rating on shares of Baxter International in a research note on Wednesday, October 8th. Argus downgraded Baxter International from a “buy” rating to a “hold” rating in a report on Friday, October 31st. Finally, Zacks Research raised shares of Baxter International from a “strong sell” rating to a “hold” rating in a report on Monday, December 1st. Two equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Baxter International currently has an average rating of “Hold” and an average target price of $21.30.

Baxter International Stock Performance

Shares of Baxter International stock opened at $19.66 on Wednesday. The company’s 50 day moving average price is $18.90 and its two-hundred day moving average price is $22.60. The firm has a market capitalization of $10.10 billion, a P/E ratio of -29.78, a P/E/G ratio of 1.18 and a beta of 0.59. Baxter International Inc. has a fifty-two week low of $17.40 and a fifty-two week high of $37.74. The company has a debt-to-equity ratio of 1.21, a current ratio of 1.84 and a quick ratio of 1.18.

Baxter International (NYSE:BAX) last released its earnings results on Thursday, October 30th. The medical instruments supplier reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.09. The business had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.88 billion. Baxter International had a negative net margin of 3.09% and a positive return on equity of 17.38%. The company’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.80 EPS. Baxter International has set its Q4 2025 guidance at 0.520-0.570 EPS and its FY 2025 guidance at 2.350-2.400 EPS. On average, equities analysts forecast that Baxter International Inc. will post 2.48 earnings per share for the current fiscal year.

Baxter International Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Shareholders of record on Friday, November 28th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Friday, November 28th. This represents a $0.04 annualized dividend and a dividend yield of 0.2%. Baxter International’s dividend payout ratio (DPR) is currently -6.06%.

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.