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

Baxter International Inc. (NYSE:BAX) was the target of a significant growth in short interest in January. As of January 15th, there was short interest totalling 16,740,000 shares, a growth of 30.4% from the December 31st total of 12,840,000 shares. Based on an average daily volume of 4,460,000 shares, the days-to-cover ratio is currently 3.8 days.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on BAX. Citigroup lowered their price target 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. Stifel Nicolaus lowered their target price on shares of Baxter International from $46.00 to $38.00 and set a “buy” rating for the company in a research note on Monday, November 11th. Finally, StockNews.com downgraded Baxter International from a “buy” rating to a “hold” rating in a research report on Monday, November 11th. 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 company. According to data from MarketBeat.com, Baxter International presently has an average rating of “Hold” and a consensus target price of $40.45.

Baxter International Trading Down 1.5 %

Baxter International stock opened at $32.60 on Monday. The stock has a 50-day moving average price of $30.97 and a 200 day moving average price of $34.57. The company has a market capitalization of $16.65 billion, a price-to-earnings ratio of 163.03, a price-to-earnings-growth ratio of 10.46 and a beta of 0.59. Baxter International has a 52 week low of $28.33 and a 52 week high of $44.01. The company has a quick ratio of 1.09, a current ratio of 1.43 and a debt-to-equity ratio of 1.31.

Baxter International (NYSE:BAX) last announced its quarterly earnings data on Friday, November 8th. The medical instruments supplier reported $0.80 EPS for the quarter, beating the consensus estimate of $0.78 by $0.02. The business had revenue of $3.85 billion during the quarter, compared to analysts’ expectations of $3.85 billion. Baxter International had a net margin of 0.77% and a return on equity of 18.30%. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.68 EPS. Sell-side analysts anticipate that Baxter International will post 1.83 EPS for the current year.

Baxter International Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, November 29th were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.09%. Baxter International’s payout ratio is currently 340.02%.

Hedge Funds Weigh In On Baxter International

Several institutional investors and hedge funds have recently modified their holdings of BAX. First PREMIER Bank purchased a new position in Baxter International during the third quarter valued at approximately $25,000. Fortitude Family Office LLC purchased a new position in shares of Baxter International during the 3rd quarter valued at approximately $38,000. LRI Investments LLC lifted its stake in shares of Baxter International by 60.8% in the 3rd quarter. LRI Investments LLC now owns 1,560 shares of the medical instruments supplier’s stock valued at $59,000 after purchasing an additional 590 shares during the period. Cromwell Holdings LLC purchased a new stake in Baxter International during the third quarter worth $62,000. Finally, Bruce G. Allen Investments LLC grew its position in Baxter International by 247.3% during 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 during the period. Institutional investors and hedge funds own 90.19% of the company’s stock.

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.