Baxter International Inc. (NYSE:BAX) Short Interest Update

Baxter International Inc. (NYSE:BAX) was the target of a significant increase in short interest in the month of July. As of July 31st, there was short interest totalling 9,930,000 shares, an increase of 12.2% from the July 15th total of 8,850,000 shares. Based on an average daily volume of 4,950,000 shares, the short-interest ratio is presently 2.0 days.

Baxter International Price Performance

Shares of NYSE BAX opened at $36.12 on Monday. The business’s 50 day moving average price is $34.77 and its two-hundred day moving average price is $37.79. The company has a market cap of $18.41 billion, a PE ratio of 6.95, a price-to-earnings-growth ratio of 1.88 and a beta of 0.57. The company has a quick ratio of 1.01, a current ratio of 1.48 and a debt-to-equity ratio of 1.35. Baxter International has a twelve month low of $31.01 and a twelve month high of $44.01.

Baxter International (NYSE:BAX) last posted its earnings results on Tuesday, August 6th. The medical instruments supplier reported $0.68 EPS for the quarter, beating the consensus estimate of $0.66 by $0.02. Baxter International had a return on equity of 18.47% and a net margin of 17.79%. The company had revenue of $3.81 billion for the quarter, compared to the consensus estimate of $3.75 billion. During the same quarter in the prior year, the business earned $0.55 earnings per share. The firm’s revenue for the quarter was up 2.8% on a year-over-year basis. On average, analysts predict that Baxter International will post 2.91 EPS for the current year.

Baxter International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, August 30th will be paid a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 3.21%. The ex-dividend date of this dividend is Friday, August 30th. Baxter International’s dividend payout ratio (DPR) is currently 22.31%.

Wall Street Analyst Weigh In

Several research firms have weighed in on BAX. StockNews.com upgraded Baxter International from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Citigroup reduced their target price on Baxter International from $38.00 to $37.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. Morgan Stanley lowered Baxter International from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $39.00 to $30.00 in a report on Monday, July 15th. TD Cowen lowered Baxter International from a “buy” rating to a “hold” rating and set a $40.00 price target on the stock. in a report on Friday, May 10th. Finally, Evercore ISI cut their price target on Baxter International from $46.00 to $45.00 and set an “outperform” rating on the stock in a report on Tuesday, July 2nd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $41.73.

Institutional Investors Weigh In On Baxter International

Several institutional investors have recently made changes to their positions in the stock. SkyView Investment Advisors LLC boosted its stake in shares of Baxter International by 17.4% in the second quarter. SkyView Investment Advisors LLC now owns 8,408 shares of the medical instruments supplier’s stock valued at $281,000 after buying an additional 1,248 shares during the period. Shapiro Capital Management LLC boosted its stake in shares of Baxter International by 19.7% in the second quarter. Shapiro Capital Management LLC now owns 3,285,048 shares of the medical instruments supplier’s stock valued at $109,885,000 after buying an additional 541,575 shares during the period. Gabelli Funds LLC lifted its stake in Baxter International by 7.0% during the second quarter. Gabelli Funds LLC now owns 306,200 shares of the medical instruments supplier’s stock worth $10,242,000 after purchasing an additional 20,000 shares during the last quarter. Pacer Advisors Inc. lifted its stake in Baxter International by 34.3% during the second quarter. Pacer Advisors Inc. now owns 54,334 shares of the medical instruments supplier’s stock worth $1,817,000 after purchasing an additional 13,869 shares during the last quarter. Finally, Argent Trust Co lifted its stake in Baxter International by 10.7% during the second quarter. Argent Trust Co now owns 7,073 shares of the medical instruments supplier’s stock worth $237,000 after purchasing an additional 684 shares during the last quarter. 90.19% of the stock is currently owned by institutional investors.

Baxter International Company Profile

Baxter International Inc, through its subsidiaries, develops and provides a portfolio of healthcare products worldwide. The company operates through four segments: Medical Products and Therapies, Healthcare Systems and Technologies, Pharmaceuticals, and Kidney Care. The company offers sterile intravenous (IV) solutions; infusion systems and devices; parenteral nutrition therapies; 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, including surgical video technologies, precision positioning devices, and other accessories.