SCHEDULE 13G/A: Dodge & Cox Discloses 9.9% Stake in Baxter International

Investment adviser Dodge & Cox has filed an amended Schedule 13G, reporting a beneficial ownership of 9.9% in Baxter International Inc. as of December 31, 2024.

Summary

• Dodge & Cox, an investment adviser based in San Francisco, CA, has filed an Amendment No. 2 to Schedule 13G regarding its holdings in Baxter International Inc.
• As of December 31, 2024, Dodge & Cox beneficially owned 50,377,294 shares of Baxter International's Common Stock.
• This ownership represents 9.9% of the class of securities.
• Dodge & Cox holds sole voting power over 47,562,794 shares and sole dispositive power over 50,377,294 shares.
• The filing indicates that the securities were acquired and are held in the ordinary course of business, not for the purpose of changing or influencing control of the issuer.
• One of Dodge & Cox's registered investment companies, Dodge & Cox Stock Fund, holds a significant portion of this stake, specifically 34,309,200 shares, representing 6.7% of the class.

Sentiment

Score: 5

Explanation: A Schedule 13G filing is a factual disclosure of beneficial ownership and typically carries a neutral sentiment, as it does not inherently indicate positive or negative operational performance or strategic shifts for the issuer.

Future Outlook

NA

Industry Context

This filing is a routine disclosure by a significant institutional investor, Dodge & Cox, detailing its passive ownership stake in Baxter International. It reflects an investment decision by Dodge & Cox rather than a strategic announcement from Baxter International itself. Such filings are common for large asset managers holding over 5% of a company's shares.

Stakeholder Impact

• Shareholders: Provides transparency regarding a significant institutional holder's stake, which can influence market perception and liquidity.
• Investment Community: Offers insight into the holdings of a prominent investment adviser, potentially signaling confidence or a long-term investment thesis in Baxter International.

Key Dates

Keywords

Baxter International, Dodge & Cox, Schedule 13G, Beneficial Ownership, Common Stock, Investment Adviser, BXN, SEC Filing