BAX Baxter International Inc.

Baxter International, Inc. provides portfolio of essential renal and hospital products, including acute and chronic dialysis, sterile IV solutions, infusion systems and devices, parenteral nutrition therapies; premixed and oncolytic injectable, bio surgery products and anesthetics, drug reconstitution systems and pharmacy automation, software and services. It operates through the following segment: Americas, Europe, Middle East & Africa and Asia-Pacific. The company was founded by Davis Baxter in 1931 and is headquartered in Deerfield, IL.

Company profile

Ticker

BAX

Exchange

NYSE

Website

www.baxter.com

CEO

José E. Almeida

Incorporated

Delaware

Location

Illinois

Fiscal year end

Dec 31

Sector

Health Technology > Medical Specialties

Industry (SIC)

Surgical & Medical Instruments & Apparatus

3M • Boston Scientific • Stryker • Becton Dickinson and • Teleflex • ResMed • Hill-Rom • Integra LifeSciences • Haemonetics • NuVasive ...

SEC CIK

0000010456

Corporate docs

Articles of Incorporation & Bylaws

IRS number

360781620

BAX stock data

S&P 500

1M 1Y 2Y 5Y

Calendar

30 Jul 20

21 Sep 20

31 Dec 20

News

Financial summary

Financial statements Chart BAX financial data

Quarter (USD)	Jun 20	Mar 20	Sep 19	Jun 19
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Annual (USD)	Dec 19	Dec 18	Dec 17	Dec 16
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Recent insider trades

BAX insider ownership history Insider history

Date	Owner	Security	Transaction	Code	10b5-1	$Price	#Shares	$Value	#Remaining
14 Sep 20	Forsyth John D	Common Stock, $1 par value	Sell	Dispose S	No	83.59	310	25.91K	33,969
14 Sep 20	Forsyth John D	Common Stock, $1 par value	Option exercise	Aquire M	Yes	31.26	310	9.69K	34,279
14 Sep 20	Forsyth John D	Stock Option Common Stock, $1 par value	Option exercise	Dispose M	Yes	31.26	310	9.69K	0
11 Sep 20	Gavin James R Iii	Deferred Comp Plan Baxter Common Stock Fund Common Stock, $1 par value	Other	Dispose J	No	83.1	11,894	988.39K	0
1 Sep 20	James W Borzi	Common Stock, $1 par value	Grant	Aquire A	No	0	12,000	0	12,000
1 Sep 20	James W Borzi	Stock Option Common Stock, $1 par value	Grant	Aquire A	No	85.55	60,000	5.13M	60,000
1 Sep 20	Franzi Cristiano	Common Stock, $1 par value	Payment of exercise	Dispose F	No	85.55	1,132	96.84K	38,036

Data from 3, 4 and 5 filings. Stock values as filed, not updated for current price.

Institutional ownership Q2 2020

BAX institutional ownership history Ownership history

84.3% owned by funds/institutions

13F holders	Current	Prev Q	Change
Total holders	1102	1080	+2.0%
Opened positions	103	75	+37.3%
Closed positions	81	123	-34.1%
Increased positions	364	293	+24.2%
Reduced positions	399	491	-18.7%

13F shares	Current	Prev Q	Change
Total value	36.74B	34.63B	+6.1%
Total shares	426.86M	426.31M	+0.1%
Total puts	1.44M	876.1K	+64.1%
Total calls	1.93M	1.13M	+71.4%
Total put/call ratio	0.7	0.8	-4.2%

Largest owners	Shares	Value	Change
BLK BlackRock	44.57M	$3.84B	+7.9%
Vanguard	39.98M	$3.44B	-0.9%
Wellington Management	28.85M	$2.48B	-3.6%
STT State Street	24.04M	$2.08B	+2.0%
MS Morgan Stanley	19.54M	$1.68B	+0.7%
FMR	12.57M	$1.08B	-9.5%
Generation Investment Management	10.61M	$913.19M	+4.4%
Capital International Investors	9.07M	$780.44M	+24.7%
Veritas Asset Management	8.94M	$769.94M	-0.1%
NTRS Northern Trust	8.5M	$731.49M	+0.5%

Largest transactions	Shares	Bought/sold	Change
Third Point	4M	-7.58M	-65.5%
Citadel Advisors	119.51K	-4.15M	-97.2%
BLK BlackRock	44.57M	+3.28M	+7.9%
Nuveen Asset Management	5.43M	-2.58M	-32.2%
Capital International Investors	9.07M	+1.79M	+24.7%
AMP Ameriprise Financial	7.52M	-1.72M	-18.6%
Carmignac Gestion	1.52M	+1.52M	NEW
BNS Bank of Nova Scotia	0	-1.51M	EXIT
Two Sigma Advisers	2.51M	+1.49M	+146.3%
FMR	12.57M	-1.32M	-9.5%

Data from 13F filings. Stock values as filed, not updated for current price. Long positions only.

Financial report summary

Competition

ThermoGenesis • Alaris Medical Systems • rEVO Biologics • AIM ImmunoTech • Sangamo Therapeutics • Fresenius Medical Care AG & Co. KGaA • Alaris Medical Systems • United Health Products • Edwards Lifesciences • Curis

Management Discussion

Net income attributable to Baxter stockholders for the three and six months ended June 30, 2020 totaled $246 million, or $0.48 per diluted share, and $578 million, or $1.12 per diluted share, compared to $313 million, or $0.60 per diluted share, and $655 million, or $1.26 per diluted share, for the three and six months ended June 30, 2019. Net income for the three and six months ended June 30, 2020 included special items which decreased net income by $83 million and $176 million, respectively, or $0.16 and $0.34 per diluted share, respectively, as further discussed below. Net income for the three and six months ended June 30, 2019 included special items which decreased net income by $123 million and $175 million, respectively, or $0.24 and $0.34 per diluted share, respectively, as further discussed below.

Content analysis ?

Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability	H.S. junior Avg

New words: adapt, admission, annuitization, appeal, attempt, avert, breach, coverage, cyber, directly, economy, face, facing, factor, heighten, heightened, high, hospital, incentive, infection, inflow, insolvency, led, macroeconomic, mitigate, pace, personal, prioritize, recessionary, remote, remotely, Renminbi, repayment, reputation, reputational, resumption, run, shelter, shifted, shown, skilled, spread, stabilize, stemming, telecommunication, uncertainty, underway, unemployment, unknown, unprecedented, wave, worldwide

Removed: cyclophosphamide, EVO, exercised, internationally, IQ, spectrum

From filing 10-Q 2020 Q2