Baxter International (BAX)
Supplies hospital infusion, connected-care, surgical, respiratory, and injectable medicine products.
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Supplies hospitals and other care settings with IV therapies, infusion systems, surgical products, smart beds, monitoring and respiratory devices, and injectable medicines. Revenue spans equipment, consumables, pharmaceuticals, and services across two segments, with substantial international exposure and strict manufacturing and regulatory requirements.
Organizes a global hospital-products portfolio into Medical Products & Therapies and Healthcare Systems & Technologies. The former covers IV solutions, infusion systems, parenteral nutrition, surgical products, specialty injectables, inhaled anesthetics, and drug compounding. The latter supplies smart beds, monitoring and diagnostic technologies, respiratory devices, and operating-room equipment.
Sells directly and through distributors and drug wholesalers across U.S. and international markets, with a substantial share of revenue generated abroad. Equipment sales are paired with recurring consumables, pharmaceuticals, and services.
Following the Kidney Care sale, former Pharmaceuticals operations were folded into Medical Products & Therapies. Operations depend on regulatory clearances, inspected manufacturing, product quality systems, supply continuity, and major hospital purchasing agreements.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Jul 31, 2026 | Stifel Nicolaus | Target | Target: $24 | Target: $28 |
| Jul 31, 2026 | Citigroup | Upgrade | ||
| Jul 30, 2026 | Citigroup | Upgrade | ||
| Jul 28, 2026 | UBS | Reiterate | Rating: —Target: $19 | Target: $25 |
| Jul 28, 2026 | Stifel Nicolaus | Target | Target: $20 | Target: $24 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $2.15B · Total debt $9.67B · Total assets $19.79B · Shareholders' equity $6.21B
- Revenue
- $2.96B
- Operating income
- $217.0M
- Net income
- $126.0M
HistoryDividendAnnual yield
| Institutions | ≥ 108.82% | 562.58M shares | |
|---|---|---|---|
| 722 holders · as of Jun 30, 2026 | |||
| Insiders | 0.52% | 2.68M shares | |
| 28 holders · as of Sep 18, 2026 | |||
| Strategic holders | 8.69% | 44.93M shares | |
| 1 holder · as of Jan 21, 2026 | |||
| Adds to | 118.03% | ||
517.00M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Institutional filings for BAX (NYSE) (100% of the company) are not on file here, so the institutional figure is a floor.
These groups come from separate filings that can overlap, so they add to 118.03%; nothing is left for Other.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Institution | 15.83% | 81.84M | as of Jun 30, 2026 |
Pzena Investment Management LLCInstitution | 12.63% | 65.30M | as of Jun 30, 2026 |
Dodge & CoxInstitution | 11.29% | 58.39M | as of Jun 30, 2026 |
FMR LLCInstitution | 10.43% | 53.91M | as of Jun 30, 2026 |
BlackRock Portfolio Management LLCStrategic | 8.69% | 44.93M | filed Jan 21, 2026 |
Insider tradesForm 4
No open-market trades in the last 12 months.
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Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Baxter International | $23.60 | +2.90% | $11.85B | — | 11.2 | 1.0 | +5.3% |
| BD | $181.25 | +0.30% | $49.79B | 54.4 | 13.7 | 2.4 | −9.6% |
| ICU Medical | $158.25 | +1.95% | $3.88B | 131.5 | 17.8 | 1.8 | −0.2% |
| GE HealthCare | $66.50 | +2.61% | $29.27B | 18.8 | 12.8 | 1.4 | +5.8% |
| Philips (ADR) | $24.97 | +0.26% | $24.34B | 18.7 | 13.0 | 1.2 | −2.8% |
| Stryker | $275.68 | +0.54% | $105.11B | 28.4 | 17.2 | 4.1 | +9.4% |
| Median | 28.4 | 13.7 | 1.8 | −0.2% |