Baxter International Inc. (NYSE:BAX) Sees Large Decrease in Short Interest

Baxter International Inc. (NYSE:BAX) saw a significant decrease in short interest in October. As of October 31st, there was short interest totalling 11,470,000 shares, a decrease of 10.3% from the October 15th total of 12,790,000 shares. Based on an average trading volume of 3,560,000 shares, the short-interest ratio is presently 3.2 days.

Analysts Set New Price Targets

A number of research firms have issued reports on BAX. Stifel Nicolaus lowered their target price on Baxter International from $46.00 to $38.00 and set a “buy” rating for the company in a report on Monday, November 11th. JPMorgan Chase & Co. cut their price objective on shares of Baxter International from $44.00 to $42.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Citigroup raised their target price on shares of Baxter International from $38.00 to $40.00 and gave the company a “neutral” rating in a research report on Tuesday, October 1st. The Goldman Sachs Group upped their target price on Baxter International from $36.00 to $40.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Finally, Wells Fargo & Company lowered their price target on Baxter International from $44.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Baxter International has an average rating of “Hold” and an average target price of $40.91.

Hedge Funds Weigh In On Baxter International

A number of hedge funds have recently added to or reduced their stakes in BAX. Covestor Ltd lifted its position in shares of Baxter International by 42.1% during the 1st quarter. Covestor Ltd now owns 6,676 shares of the medical instruments supplier’s stock valued at $286,000 after acquiring an additional 1,978 shares during the period. Rockport Wealth LLC bought a new stake in shares of Baxter International during the 1st quarter valued at about $297,000. Bessemer Group Inc. raised its position in Baxter International by 17.3% during the first quarter. Bessemer Group Inc. now owns 5,159 shares of the medical instruments supplier’s stock valued at $221,000 after purchasing an additional 762 shares in the last quarter. Rodgers Brothers Inc. lifted its stake in Baxter International by 6.3% in the first quarter. Rodgers Brothers Inc. now owns 107,413 shares of the medical instruments supplier’s stock worth $4,591,000 after purchasing an additional 6,327 shares during the last quarter. Finally, Gabelli Funds LLC boosted its position in Baxter International by 9.6% during the 1st quarter. Gabelli Funds LLC now owns 286,200 shares of the medical instruments supplier’s stock valued at $12,232,000 after buying an additional 25,000 shares during the period. Institutional investors own 90.19% of the company’s stock.

Baxter International Stock Performance

BAX stock traded down $0.50 during mid-day trading on Tuesday, hitting $32.52. 4,509,390 shares of the company were exchanged, compared to its average volume of 4,096,504. Baxter International has a 1-year low of $31.60 and a 1-year high of $44.01. The business has a 50 day simple moving average of $36.73 and a 200-day simple moving average of $35.76. The company has a current ratio of 1.43, a quick ratio of 1.09 and a debt-to-equity ratio of 1.31. The stock has a market capitalization of $16.60 billion, a PE ratio of 162.11, a price-to-earnings-growth ratio of 12.69 and a beta of 0.60.

Baxter International (NYSE:BAX) last posted its quarterly earnings data on Friday, November 8th. The medical instruments supplier reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.02. Baxter International had a return on equity of 18.30% and a net margin of 0.77%. The firm had revenue of $3.85 billion for the quarter, compared to analysts’ expectations of $3.85 billion. During the same quarter last year, the business earned $0.68 EPS. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. On average, equities analysts forecast that Baxter International will post 1.98 earnings per share for the current year.

Baxter International Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, November 29th will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 2.09%. The ex-dividend date is Friday, November 29th. Baxter International’s dividend payout ratio (DPR) is currently 580.03%.

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.