Baxter International Inc. (NYSE:BAX) Short Interest Up 21.2% in September

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

Analyst Ratings Changes

BAX has been the subject of a number of analyst reports. Citigroup reduced their target price on shares of Baxter International from $38.00 to $37.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. Wells Fargo & Company decreased their price objective on shares of Baxter International from $44.00 to $40.00 and set an “equal weight” rating for the company in a report on Wednesday, August 7th. Morgan Stanley lowered Baxter International from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $39.00 to $30.00 in a report on Monday, July 15th. StockNews.com upgraded Baxter International from a “hold” rating to a “buy” rating in a research note on Tuesday, September 17th. Finally, The Goldman Sachs Group increased their price objective on Baxter International from $36.00 to $40.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $41.73.

Hedge Funds Weigh In On Baxter International

Large investors have recently added to or reduced their stakes in the company. Massmutual Trust Co. FSB ADV lifted its position in shares of Baxter International by 15.1% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 2,069 shares of the medical instruments supplier’s stock worth $88,000 after buying an additional 272 shares during the period. Oregon Public Employees Retirement Fund lifted its holdings in shares of Baxter International by 0.7% during the second quarter. Oregon Public Employees Retirement Fund now owns 43,751 shares of the medical instruments supplier’s stock valued at $1,463,000 after acquiring an additional 310 shares during the period. Kingswood Wealth Advisors LLC boosted its stake in shares of Baxter International by 4.6% in the 2nd quarter. Kingswood Wealth Advisors LLC now owns 7,759 shares of the medical instruments supplier’s stock valued at $260,000 after purchasing an additional 343 shares in the last quarter. Archer Investment Corp grew its holdings in shares of Baxter International by 20.8% in the 2nd quarter. Archer Investment Corp now owns 2,235 shares of the medical instruments supplier’s stock worth $75,000 after purchasing an additional 385 shares during the last quarter. Finally, Trust Co. of Vermont increased its position in shares of Baxter International by 31.0% during the 4th quarter. Trust Co. of Vermont now owns 1,870 shares of the medical instruments supplier’s stock worth $72,000 after purchasing an additional 443 shares in the last quarter. Institutional investors and hedge funds own 90.19% of the company’s stock.

Baxter International Stock Performance

Shares of BAX stock traded down $0.94 during trading hours on Monday, reaching $37.97. 4,866,087 shares of the company’s stock were exchanged, compared to its average volume of 4,141,599. The business has a fifty day moving average price of $37.37 and a 200-day moving average price of $37.17. The stock has a market capitalization of $19.35 billion, a P/E ratio of 7.48, a P/E/G ratio of 1.32 and a beta of 0.59. The company has a quick ratio of 0.91, a current ratio of 1.40 and a debt-to-equity ratio of 1.35. Baxter International has a fifty-two week low of $31.01 and a fifty-two week high of $44.01.

Baxter International (NYSE:BAX) last issued its quarterly earnings results on Tuesday, August 6th. The medical instruments supplier reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.02. The firm had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $3.75 billion. Baxter International had a net margin of 16.51% and a return on equity of 18.06%. The business’s revenue was up 2.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.55 EPS. Analysts predict that Baxter International will post 2.96 EPS for the current fiscal year.

Baxter International Announces Dividend

The company 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 dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.16 annualized dividend and a yield of 3.06%. Baxter International’s dividend payout ratio is 22.31%.

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.