This afternoon we watched Baxter International drop -1.5% to a price of $38.37 per share. The large-cap Medical Instruments & Supplies company is now trading -23.9% below its average target price of $50.42. Analysts have set target prices ranging from $44.0 to $58.0 per share for Baxter International, and have given the stock an average rating of hold.
The stock has a very low short interest at 1.6%, and a short ratio of 1.9. The company's insiders own 0.27% of its outstanding shares, which indicates a strong alignment between management and shareholder interests. Finally, we also note that a significant number of institutional investors are invested in the stock, with 89.1% of Baxter International's shares being owned by this investor type.
Institutions Invested in Baxter International
| Date Reported | Holder | Percentage | Shares | Value |
|---|---|---|---|---|
| 2023-06-30 | Blackrock Inc. | 13% | 65,169,315 | $2,500,546,546 |
| 2023-06-30 | Vanguard Group Inc | 12% | 60,644,843 | $2,326,942,561 |
| 2023-06-30 | State Street Corporation | 4% | 21,509,396 | $825,315,501 |
| 2023-06-30 | Price (T.Rowe) Associates Inc | 3% | 15,254,038 | $585,297,421 |
| 2023-06-30 | Geode Capital Management, LLC | 2% | 10,629,326 | $407,847,227 |
| 2023-06-30 | Ameriprise Financial, Inc. | 2% | 9,737,776 | $373,638,454 |
| 2023-06-30 | JP Morgan Chase & Company | 2% | 9,576,081 | $367,434,217 |
| 2023-06-30 | Invesco Ltd. | 2% | 9,387,530 | $360,199,516 |
| 2023-06-30 | Macquarie Group Limited | 2% | 8,642,454 | $331,610,950 |
| 2023-06-30 | T. Rowe Price Investment Management, Inc. | 2% | 8,265,067 | $317,130,611 |
Besides an analyst consensus of strong upside potential, other market factors point to there being mixed market sentiment on Baxter International.
