Overview
- SCCM Enhanced Equity Income Fund disclosed the sale of Baxter in its third-quarter 2025 investor letter.
- Safety incidents tied to Baxter’s Novum IQ large-volume pump led management to reduce the full-year earnings outlook.
- Hospital group purchasing organization pricing pressure persisted through 2025, adding to margin strain.
- The managers acknowledged Baxter’s long-term recovery potential but chose to avoid concentrated exposure to near-term headwinds.
- By December 4, Baxter shares were up 41.89% over 52 weeks at $18.48, hedge-fund holders rose to 38 portfolios, and the fund’s Q3 composite returned 0.9% versus 3.5% for the BXM benchmark.