PNC Financial Services Group Reduces $56K in Baxter International Inc. ($BAX)
PNC Financial Services reduced its holdings in Baxter International by 1.0%, reflecting a strategic adjustment.
Key Points
- PNC Financial Services reduced its stake in Baxter International by 1.0%, selling 2,564 shares to hold 244,544 shares worth $5.27 million.
- Baxter International, with a market cap of $11.13 billion, trades near $21.55 and has a forward P/E of 10.71.
- Insiders at Baxter made several transactions, and analysts have mixed ratings, with Citigroup recently downgrading the stock to 'sell'.
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PNC Financial Services Group has reduced its holdings in Baxter International Inc. (NYSE: BAX). According to its latest Form 13F filing with the SEC, the group trimmed its position by 1.0%, selling 2,564 shares. This leaves PNC with 244,544 shares valued at approximately $5.27 million as of the reporting period.
PNC Financial Services Group vs. the S&P 500
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What Changed in PNC Financial Services Group's Baxter International Position
PNC Financial Services cut its stake in Baxter International by 1.0%, reducing its holdings from 247,108 shares to 244,544 shares. The shares are now valued at about $5.27 million, reflecting a strategic adjustment in its investment portfolio.
Other Institutional Activity in Baxter International
Several other institutional investors also adjusted their positions in Baxter International. BlackRock, Inc. reduced its holdings by 5,383,261 shares, ending with 79,400,664 shares valued at $1.33 billion, marking a 6.3% decrease. Pzena Investment Management LLC similarly decreased its position by 5,518,428 shares, leaving it with 64,527,823 shares worth approximately $1.08 billion, a 7.9% reduction. On the other hand, Dodge & Cox increased its holdings by 254,600 shares, resulting in a total of 57,254,570 shares valued at $961.88 million, a 0.4% increase. FMR LLC significantly boosted its holdings by 11,453,034 shares to a total of 46,264,804 shares, valued at $777.25 million, representing a 32.9% increase. Meanwhile, Vanguard Capital Management LLC and Vanguard Portfolio Management LLC both opened new positions, with 33,506,975 and 23,993,355 shares, respectively.
Baxter International Inc. Stock Down 15.7%
Shares of Baxter International (NYSE: BAX) traded near $21.55 on Friday. The company has a market capitalization of about $11.13 billion and a forward P/E ratio of 10.71, indicating expectations for future earnings. Baxter's beta is 0.642, suggesting lower volatility compared to the market. The stock's 52-week range spans from a low of $15.73 to a high of $31.76. The 50-day moving average is $18.73, while the 200-day moving average stands at $19.61. Baxter maintains a current ratio of 1.85 and a quick ratio of 1.03, with a debt-to-equity ratio of 161.02.
$BAX stock price
Daily closing prices, year to date. Not investment advice.
Recent Earnings
Baxter International reported revenues of $11.32 billion, reflecting a modest growth of 2.9%. However, the company posted a net margin of -9.7% and a return on equity of -15.0%, indicating financial challenges. The next earnings report is expected on July 30, 2026.
Earnings drift grade
Outlook vs expectations on the last report — not price action.
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Forward outlook
1 target raises vs 1 cuts.
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EPS & revenue
EPS beat estimates by 15.9%. Revenue beat estimates by 2.2%.
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Profit surprise
EBITDA missed by 34 percent. Operating income missed by 78 percent.
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Pre-earnings setup
Expectations were about average.
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Analyst signal
1 downgrade, 1 target raise, 1 target cut.
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Earnings quality
Positive free cash flow.
Earnings Call Summary
First quarter revenue reached $2.7 billion with reported growth of 3 percent year over year, but organic growth declined 1 percent due to Novum infusion pump issues and challenging prior year comparisons. Adjusted earnings of $0.36 per share beat expectations. Management emphasized steady progress on their turnaround plan through process improvements and cost management, with confidence that second half performance will improve as known headwinds clear.
Guidance Baxter expects full year 2026 organic revenue to be approximately flat and adjusted earnings between $1.85 and $2.05 per share. The company plans to improve significantly in the second half as manufacturing cost headwinds and prior year comparison challenges ease.
Underwhelming report. Mixed results that may lead to slightly lower expectations.
Dividend
Baxter International pays an annual dividend rate of $0.20 per share, yielding 0.93%. The dividend payout ratio is 3.08%, suggesting a conservative approach to dividend payments.
Insider Buying and Selling at Baxter International Inc.
Recent insider activity at Baxter International includes several transactions. On June 2, 2026, James Teaff, President of CCS, and Steven Wallace, President of Advanced Surgery, each sold 321 and 153 shares, respectively, at an average price of $18.68. On June 1, 2026, Anita Zielinski, SVP and Interim CFO, acquired 13,426 shares. Additionally, on May 5, 2026, William Ampofo II, Michael McDonnell, and Patricia Morrison each acquired 12,836 shares.
Analysts Set New Price Targets
Analyst activity includes Citigroup downgrading Baxter International to a 'sell' with a $17.00 price target on May 28, 2026. Barclays maintained its 'buy' rating with a $27.00 target on May 4, 2026. The consensus among 12 analysts is a 'hold', with a mean price target of $21.54.
About Baxter International
Baxter International Inc., headquartered in Deerfield, Illinois, is a healthcare company providing a wide range of medical products. It operates through segments like Medical Products & Therapies, Healthcare Systems & Technologies, and Pharmaceuticals. Its offerings include sterile IV solutions, infusion systems, respiratory health devices, and advanced surgical equipment. Baxter serves various healthcare facilities worldwide and was founded in 1931.
Bottom Line
PNC Financial Services' recent trimming of its stake in Baxter International is a notable development tracked by investors. The 13F filing provides a snapshot of holdings as of the reporting period and may not reflect current positions. Investors watch these filings to gauge institutional sentiment, though they are backward-looking and not indicative of future actions.
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