Bank of New York Mellon Corp Has $399.36 Million Stock Holdings in Baxter International Inc. $BAX

Bank of New York Mellon Corp decreased its position in Baxter International Inc. (NYSE:BAX) by 7.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 13,188,988 shares of the medical instruments supplier’s stock after selling 1,013,114 shares during the period. Bank of New York Mellon Corp’s holdings in Baxter International were worth $399,363,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in BAX. Zions Bancorporation National Association UT bought a new position in Baxter International during the first quarter worth about $27,000. Creative Financial Designs Inc. ADV lifted its holdings in shares of Baxter International by 169.6% during the 2nd quarter. Creative Financial Designs Inc. ADV now owns 984 shares of the medical instruments supplier’s stock valued at $30,000 after purchasing an additional 619 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its position in shares of Baxter International by 40.1% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 2,831 shares of the medical instruments supplier’s stock valued at $86,000 after purchasing an additional 810 shares during the period. Whittier Trust Co. increased its stake in Baxter International by 82.2% during the 2nd quarter. Whittier Trust Co. now owns 3,202 shares of the medical instruments supplier’s stock worth $97,000 after purchasing an additional 1,445 shares in the last quarter. Finally, Archer Investment Corp raised its holdings in Baxter International by 20.5% during the 1st quarter. Archer Investment Corp now owns 2,935 shares of the medical instruments supplier’s stock worth $100,000 after buying an additional 500 shares during the period. Institutional investors and hedge funds own 90.19% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on BAX. Wall Street Zen downgraded shares of Baxter International from a “buy” rating to a “hold” rating in a research report on Saturday, August 2nd. Citigroup lowered their target price on Baxter International from $26.00 to $21.00 and set a “neutral” rating for the company in a report on Friday, October 31st. JPMorgan Chase & Co. cut their price target on Baxter International from $25.00 to $19.00 in a report on Friday, October 31st. Barclays reduced their price objective on Baxter International from $41.00 to $36.00 and set an “overweight” rating for the company in a research report on Monday, August 4th. Finally, Wells Fargo & Company dropped their target price on Baxter International from $33.00 to $24.00 and set an “equal weight” rating on the stock in a research report on Friday, August 1st. Two research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat, Baxter International currently has an average rating of “Reduce” and an average price target of $23.70.

Baxter International Price Performance

Shares of NYSE BAX opened at $17.99 on Wednesday. The company has a debt-to-equity ratio of 1.30, a current ratio of 2.30 and a quick ratio of 1.49. The business has a 50-day moving average of $22.88 and a 200-day moving average of $26.69. The stock has a market capitalization of $9.24 billion, a price-to-earnings ratio of -59.95, a PEG ratio of 0.73 and a beta of 0.58. Baxter International Inc. has a fifty-two week low of $17.74 and a fifty-two week high of $37.74.

Baxter International (NYSE:BAX) last issued its quarterly earnings results on Thursday, October 30th. The medical instruments supplier reported $0.69 EPS for the quarter, beating the consensus estimate of $0.60 by $0.09. The firm had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.88 billion. Baxter International had a positive return on equity of 16.96% and a negative net margin of 1.42%.The business’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.80 earnings per share. Baxter International has set its Q4 2025 guidance at 0.520-0.570 EPS. FY 2025 guidance at 2.350-2.400 EPS. As a group, sell-side analysts predict that Baxter International Inc. will post 2.48 earnings per share for the current fiscal year.

About Baxter International

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.