Baxter International Inc. (NYSE:BAX) was the target of a significant decrease in short interest in September. As of September 15th, there was short interest totalling 15,174,057 shares, a decrease of 14.0% from the August 31st total of 17,643,435 shares. Based on an average trading volume of 4,716,409 shares, the days-to-cover ratio is currently 3.2 days. Currently, 2.8% of the company’s stock are short sold.
Several brokerages recently issued reports on BAX. RBC Capital Markets reissued a “hold” rating and set a $50.00 target price (up from $47.00) on shares of Baxter International in a research note on Wednesday, July 27th. Royal Bank Of Canada increased their target price on shares of Baxter International from $47.00 to $50.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 27th. Zacks Investment Research raised shares of Baxter International from a “sell” rating to a “hold” rating and set a $54.00 target price on the stock in a research note on Wednesday, July 27th. Argus reissued a “hold” rating on shares of Baxter International in a research note on Monday, August 15th. Finally, JPMorgan Chase & Co. increased their target price on shares of Baxter International from $45.00 to $48.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 27th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $48.25.
A number of hedge funds have recently added to or reduced their stakes in BAX. Smith Asset Management Group LP acquired a new stake in shares of Baxter International during the second quarter worth approximately $32,281,000. Trust Co. of Toledo NA OH boosted its stake in shares of Baxter International by 5.5% in the second quarter. Trust Co. of Toledo NA OH now owns 40,696 shares of the company’s stock worth $1,840,000 after buying an additional 2,107 shares during the period. Riverhead Capital Management LLC boosted its stake in shares of Baxter International by 2.1% in the first quarter. Riverhead Capital Management LLC now owns 235,633 shares of the company’s stock worth $9,681,000 after buying an additional 4,856 shares during the period. Arizona State Retirement System boosted its stake in shares of Baxter International by 1.9% in the first quarter. Arizona State Retirement System now owns 217,912 shares of the company’s stock worth $8,952,000 after buying an additional 4,000 shares during the period. Finally, Zurich Insurance Group Ltd FI acquired a new stake in shares of Baxter International during the first quarter worth approximately $4,393,000. Institutional investors and hedge funds own 84.79% of the company’s stock.
Baxter International (NYSE:BAX) opened at 48.45 on Friday. Baxter International has a 52-week low of $32.92 and a 52-week high of $49.49. The company’s 50-day moving average is $47.07 and its 200 day moving average is $45.36. The company has a market cap of $26.35 billion, a price-to-earnings ratio of 5.56 and a beta of 0.71.
Baxter International (NYSE:BAX) last released its quarterly earnings results on Tuesday, July 26th. The company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.06. The business had revenue of $2.60 billion for the quarter, compared to analysts’ expectations of $2.51 billion. Baxter International had a net margin of 47.74% and a return on equity of 10.70%. The firm’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.00 earnings per share. Equities analysts forecast that Baxter International will post $1.73 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Friday, September 2nd were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.07%. The ex-dividend date was Wednesday, August 31st. Baxter International’s dividend payout ratio (DPR) is currently 5.99%.
Baxter International Company Profile
Baxter International Inc, through its subsidiaries, provides a portfolio of essential renal and hospital products, including home, acute and in-center dialysis; sterile intravenous (IV) solutions; infusion systems and devices; parenteral nutrition; biosurgery products and anesthetics, and pharmacy automation, software and services.
Receive News & Ratings for Baxter International Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Baxter International Inc. and related companies with MarketBeat.com's FREE daily email newsletter.