Baxter International Inc. (BAX)
Healthcare · NYQ · US
Fundamentals
Valuation and ratings
Baxter International Inc. trades at USD23.35, which is 50% above the USD11.70 our discounted cash flow model puts on the business. On that measure it screens as expensive, which is not the same as saying it will fall.
Our moat model scores it 27 out of 100, which is little in the way of a moat. A moat is a structural reason competitors cannot take the profits away, and it matters more to a long holding period than any single quarter's numbers do.
About Baxter International Inc.
Baxter International Inc., through its subsidiaries, provides a portfolio of healthcare products in the United States. The company operates through three segments: Medical Products & Therapies, Healthcare Systems & Technologies, and Pharmaceuticals. It offers sterile intravenous (IV) solutions; infusion systems and devices; parenteral nutrition therapies; inhaled anesthetics; 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 comprising operating room integration technologies, precision positioning devices, and other accessories. The company also provides specialty injectable pharmaceuticals, inhaled anesthetics, and drug compounding services. Its products are used in hospitals, nursing homes, rehabilitation centers, ambulatory surgery centers, doctors' offices, kidney dialysis centers, and patients at home under physician supervision. The company sells its products through direct sales force, independent distributors, drug wholesalers, and specialty pharmacy or other alternate site providers. It operates in Eastern Europe, the Middle East, Africa, Latin America, Asia, Western Europe, Canada, Japan, Australia, and New Zealand. Baxter International Inc. was incorporated in 1931 and is headquartered in Deerfield, Illinois.
BAX passes 1 of our 30 screens today
Each screen prints the exact criteria it used, and the circumstances in which it is wrong.
Smart money ownership
15 of the funds we track reported a position in their latest SEC 13F filing. Largest first:
- Richard Pzena, PZENA INVESTMENT MANAGEMENT LLC$1.08B · 3.5% of book
- Dodge & Cox, DODGE & COX$961.88M · 0.5% of book
- Greenhaven Associates, GREENHAVEN ASSOCIATES INC$240.37M · 4.0% of book
- First Pacific Advisors, First Pacific Advisors, LP$112.58M · 1.6% of book
- Marshall Wace, MARSHALL WACE, LLP$38.08M · 0.0% of book
A word of warning on reading these figures: a 13F reports the market value of a holding, so a fund that traded nothing at all still appears to have sold when the price fell. We found 102 companies where the standard reading gives the opposite answer. Only the share count is honest.
Common questions
Is Baxter International Inc. (BAX) undervalued?
Against our discounted cash flow estimate of USD11.70, BAX at USD23.35 is 50% above fair value. That is one model's answer, not a recommendation, and most of a DCF's output sits in a terminal value nobody can forecast.
Which funds own BAX?
15 of the institutions we track reported a position in BAX in their most recent SEC 13F filing. A 13F is filed up to 45 days after quarter end, so it tells you what a fund held then, not what it holds now.
The full research page for BAX, with financial statements, ownership detail, peer comparison and alerts, is free inside the app.
Data from company filings, exchange quotes and SEC EDGAR 13F disclosures. Quotes are delayed. Metrics we do not have are left out rather than estimated. Educational information, not financial advice.