BAXTER INTERNATIONAL INC
Ticker: BAXHealthcareSurgical & Medical InstrumentsS&P 500The business
Baxter International Inc. (NYSE: BAX) operates as a global healthcare company providing essential medical products and therapies through its website at www.baxter.com. The company manufactures and distributes sterile intravenous 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. These products serve hospitals, nursing homes, rehabilitation centers, ambulatory surgery centers, doctors' offices, kidney dialysis centers, and patients receiving home-based therapies under physician supervision.
The company operates through three reportable segments: Medical Products & Therapies, which includes sterile IV solutions, infusion systems, parenteral nutrition therapies, and surgical products; Healthcare Systems & Technologies, encompassing connected care solutions, smart bed systems, patient monitoring systems, diagnostic technologies, respiratory devices, and advanced surgical equipment; and Pharmaceuticals, comprising specialty injectable pharmaceuticals, inhaled anesthetics, and drug compounding services.
Baxter maintains a substantial global footprint, manufacturing products in over twenty countries and selling them in more than one hundred countries as of December 2025. The company employs approximately 37,500 people worldwide, with roughly 15,100 employees in the United States and 22,400 outside the country. The company benefits from strong relationships with major customers including hospitals, clinics, group purchasing organizations, and integrated delivery networks, supported by its own direct sales force and independent distributors.
In recent years, Baxter has undertaken significant strategic actions to optimize its portfolio and streamline operations. The company completed the sale of its BioPharma Solutions business in 2023 and divested its Kidney Care business in January 2025. Additionally, Baxter implemented a new operating model in 2023 designed to simplify operations and better align manufacturing and supply chain capabilities with commercial activities. The company's strategy emphasizes innovation in connected care and core therapy offerings, operational excellence through automation and digitization, and disciplined capital allocation focused on deleveraging while maintaining investment-grade credit ratings.
- Sector
- Healthcare
- Industry
- Surgical & Medical Instruments
- HQ
- DEERFIELD, IL
- FY end
- 12-31
- CIK
- 10456
- SIC
- 3841
Ownership
Who holds BAXTER INTERNATIONAL INC — across funds, superinvestors and bonds · N-PORT 2026Q2 · 13F 2026-06-30
Top fund holders
| Fund | % of fund | Value |
|---|---|---|
| Dodge & Cox Stock Fund DODGX · Dodge & Cox Funds | 0.70% | $823.46M |
| VANGUARD TOTAL STOCK MARKET INDEX FUND VTI · VANGUARD INDEX FUNDS | 0.02% | $349.59M |
| BlackRock Equity Dividend Fund | 1.77% | $349.35M |
| VANGUARD 500 INDEX FUND VOO · VANGUARD INDEX FUNDS | 0.02% | $285.32M |
| VANGUARD SMALL-CAP INDEX FUND VB · VANGUARD INDEX FUNDS | 0.13% | $252.28M |
Superinvestors in BAXTER INTERNATIONAL INC
Share of each manager's reported 13F portfolio.
Bonds held by funds
Funds report holding 15 issues of BAXTER INTERNATIONAL INC's debt, $2.01B at fund-held market value — what funds hold, not the company's debt outstanding. Weighted-average coupon 3.67%, maturing 2026–2051.
| Issue | Coupon | Matures | Funds | Fund-held |
|---|---|---|---|---|
| Baxter International Inc | 5.650% | 2035-12-15 | 117 | $433.79M |
| Baxter International Inc | 2.272% | 2028-12-01 | 84 | $377.03M |
| Baxter International Inc | 2.539% | 2032-02-01 | 91 | $301.12M |
| Baxter International Inc | 4.900% | 2030-12-15 | 105 | $278.11M |
| Baxter International Inc | 1.915% | 2027-02-01 | 43 | $157.97M |
| Baxter International Inc | 3.950% | 2030-04-01 | 46 | $143.72M |
| BAXTER INTERNATIONAL INC SR UNSEC 4.45% 02-15-29 | 4.450% | 2029-02-15 | 65 | $139.84M |
| Baxter International Inc | 3.132% | 2051-12-01 | 67 | $76.94M |
| BAXTER INTL | 1.730% | 2031-04-01 | 45 | $66.53M |
| Baxter International Inc | 3.500% | 2046-08-15 | 30 | $16.51M |
The 10 largest by fund-held value, of 15.
Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.
Fund ownership is a subset of institutional 13F ownership — the two describe overlapping populations and must not be added together.
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