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

Baxter International Inc. (NYSE:BAX) was the recipient of a significant increase in short interest during the month of September. As of September 15th, there was short interest totalling 13,200,000 shares, an increase of 21.2% from the August 31st total of 10,890,000 shares. Based on an average daily volume of 4,420,000 shares, the days-to-cover ratio is presently 3.0 days.

Wall Street Analyst Weigh In

BAX has been the subject of several research analyst reports. StockNews.com upgraded Baxter International from a “hold” rating to a “buy” rating in a research note on Tuesday, September 17th. Evercore ISI reduced their price objective on Baxter International from $46.00 to $45.00 and set an “outperform” rating for the company in a research note on Tuesday, July 2nd. Wells Fargo & Company reduced their price objective on Baxter International from $44.00 to $40.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 7th. JPMorgan Chase & Co. reduced their price objective on Baxter International from $44.00 to $42.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Finally, Morgan Stanley lowered Baxter International from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $39.00 to $30.00 in a report on Monday, July 15th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Baxter International presently has a consensus rating of “Hold” and a consensus price target of $41.73.

Baxter International Price Performance

BAX traded down $0.94 during trading on Monday, hitting $37.97. The company’s stock had a trading volume of 4,866,087 shares, compared to its average volume of 4,141,599. The company has a current ratio of 1.40, a quick ratio of 0.91 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. The business’s fifty day simple moving average is $37.37 and its 200 day simple moving average is $37.17. The firm has a market capitalization of $19.35 billion, a price-to-earnings ratio of 7.48, a P/E/G ratio of 1.32 and a beta of 0.59.

Baxter International (NYSE:BAX) last issued its quarterly earnings data 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 18.06% and a net margin of 16.51%. The company had revenue of $3.81 billion for the quarter, compared to analyst estimates of $3.75 billion. During the same period last year, the company earned $0.55 earnings per share. Baxter International’s quarterly revenue was up 2.8% compared to the same quarter last year. On average, equities research analysts forecast that Baxter International will post 2.96 EPS for the current fiscal year.

Baxter International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, August 30th will be given a $0.29 dividend. The ex-dividend date is Friday, August 30th. This represents a $1.16 annualized dividend and a dividend yield of 3.06%. Baxter International’s dividend payout ratio (DPR) is presently 22.31%.

Hedge Funds Weigh In On Baxter International

Several hedge funds and other institutional investors have recently made changes to their positions in BAX. Innealta Capital LLC purchased a new stake in Baxter International in the second quarter valued at $27,000. LRI Investments LLC acquired a new stake in shares of Baxter International in the first quarter valued at $39,000. United Community Bank acquired a new stake in shares of Baxter International in the fourth quarter valued at $43,000. Versant Capital Management Inc grew its stake in shares of Baxter International by 974.2% in the second quarter. Versant Capital Management Inc now owns 1,332 shares of the medical instruments supplier’s stock valued at $45,000 after buying an additional 1,208 shares in the last quarter. Finally, Trust Co. of Vermont grew its stake in shares of Baxter International by 31.0% in the fourth quarter. Trust Co. of Vermont now owns 1,870 shares of the medical instruments supplier’s stock valued at $72,000 after buying an additional 443 shares in the last quarter. Hedge funds and other institutional investors own 90.19% of the company’s stock.

About Baxter International

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.