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

Baxter International Inc. (NYSE:BAX) was the target of a large increase in short interest during the month of February. As of February 28th, there was short interest totalling 20,990,000 shares, an increase of 17.7% from the February 13th total of 17,830,000 shares. Currently, 4.1% of the company’s shares are short sold. Based on an average daily volume of 4,900,000 shares, the short-interest ratio is currently 4.3 days.

Hedge Funds Weigh In On Baxter International

A number of hedge funds have recently made changes to their positions in BAX. CoreFirst Bank & Trust acquired a new stake in Baxter International during the fourth quarter worth about $26,000. Riverview Trust Co raised its stake in shares of Baxter International by 5,488.2% in the 4th quarter. Riverview Trust Co now owns 950 shares of the medical instruments supplier’s stock valued at $28,000 after acquiring an additional 933 shares during the period. LRI Investments LLC lifted its stake in shares of Baxter International by 60.8% during the third quarter. LRI Investments LLC now owns 1,560 shares of the medical instruments supplier’s stock worth $59,000 after purchasing an additional 590 shares in the last quarter. CKW Financial Group boosted its position in shares of Baxter International by 100.0% in the third quarter. CKW Financial Group now owns 2,200 shares of the medical instruments supplier’s stock worth $81,000 after buying an additional 1,100 shares during the period. Finally, Bruce G. Allen Investments LLC grew its stake in shares of Baxter International by 247.3% in the fourth quarter. Bruce G. Allen Investments LLC now owns 2,622 shares of the medical instruments supplier’s stock valued at $76,000 after buying an additional 1,867 shares in the last quarter. Institutional investors and hedge funds own 90.19% of the company’s stock.

Baxter International Price Performance

Shares of NYSE:BAX traded down $0.45 during trading on Wednesday, hitting $34.07. 5,089,359 shares of the stock were exchanged, compared to its average volume of 4,883,922. Baxter International has a 12-month low of $28.33 and a 12-month high of $43.99. The company has a market cap of $17.43 billion, a PE ratio of -26.61, a P/E/G ratio of 0.93 and a beta of 0.60. The company has a fifty day moving average price of $32.66 and a two-hundred day moving average price of $33.90. The company has a current ratio of 1.43, a quick ratio of 1.09 and a debt-to-equity ratio of 1.31.

Baxter International (NYSE:BAX) last posted its quarterly earnings data on Thursday, February 20th. The medical instruments supplier reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.06. The firm had revenue of $2.75 billion during the quarter, compared to analysts’ expectations of $2.67 billion. Baxter International had a positive return on equity of 16.67% and a negative net margin of 5.05%. On average, analysts forecast that Baxter International will post 2.48 EPS for the current year.

Baxter International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, February 28th will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 2.00%. The ex-dividend date is Friday, February 28th. Baxter International’s dividend payout ratio (DPR) is -53.13%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on BAX shares. Citigroup reduced their price objective on shares of Baxter International from $37.00 to $35.00 and set a “neutral” rating on the stock in a report on Wednesday, December 11th. The Goldman Sachs Group began coverage on shares of Baxter International in a research report on Wednesday, February 26th. They set a “buy” rating and a $42.00 price objective for the company. JPMorgan Chase & Co. cut their target price on Baxter International from $38.00 to $36.00 and set a “neutral” rating on the stock in a research report on Friday, February 21st. Argus upgraded Baxter International from a “hold” rating to a “buy” rating in a research report on Monday, February 24th. Finally, Barclays raised their price target on shares of Baxter International from $39.00 to $41.00 and gave the company an “overweight” rating in a research report on Monday, March 10th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $38.56.

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.