Short Interest in Baxter International Inc. (NYSE:BAX) Rises By 27.0%

Baxter International Inc. (NYSE:BAX) was the recipient of a significant growth in short interest during the month of April. As of April 15th, there was short interest totalling 9,680,000 shares, a growth of 27.0% from the March 31st total of 7,620,000 shares. Based on an average daily trading volume, of 3,530,000 shares, the days-to-cover ratio is presently 2.7 days.

Institutional Investors Weigh In On Baxter International

Several large investors have recently made changes to their positions in BAX. Headinvest LLC acquired a new position in Baxter International during the third quarter valued at approximately $25,000. Bruce G. Allen Investments LLC bought a new position in Baxter International in the 4th quarter worth $36,000. Turtle Creek Wealth Advisors LLC bought a new position in Baxter International in the 4th quarter worth $37,000. Hexagon Capital Partners LLC lifted its position in Baxter International by 205.4% during the 4th quarter. Hexagon Capital Partners LLC now owns 953 shares of the medical instruments supplier’s stock worth $37,000 after acquiring an additional 641 shares during the last quarter. Finally, CKW Financial Group bought a new stake in Baxter International during the fourth quarter valued at about $43,000. Institutional investors own 90.19% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on BAX shares. StockNews.com upgraded shares of Baxter International from a “hold” rating to a “buy” rating in a research report on Friday, January 19th. UBS Group reduced their target price on Baxter International from $40.00 to $36.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 6th. JPMorgan Chase & Co. increased their target price on shares of Baxter International from $38.00 to $44.00 and gave the stock a “neutral” rating in a research report on Friday, February 9th. Citigroup increased their target price on Baxter International from $41.00 to $44.00 and gave the company a “neutral” rating in a research note on Wednesday, April 3rd. Finally, Barclays increased their price target on Baxter International from $52.00 to $54.00 and gave the company an “overweight” rating in a report on Monday, February 12th. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $46.30.

Baxter International Stock Down 0.4 %

Shares of BAX traded down $0.17 during trading hours on Tuesday, reaching $40.47. The company’s stock had a trading volume of 322,258 shares, compared to its average volume of 3,579,640. The company has a 50 day moving average of $41.81 and a two-hundred day moving average of $38.65. The company has a quick ratio of 1.04, a current ratio of 1.48 and a debt-to-equity ratio of 1.31. The firm has a market cap of $20.55 billion, a price-to-earnings ratio of 7.78, a P/E/G ratio of 2.16 and a beta of 0.62. Baxter International has a 1-year low of $31.01 and a 1-year high of $50.21.

Baxter International (NYSE:BAX) last released its earnings results on Thursday, February 8th. The medical instruments supplier reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.02. Baxter International had a net margin of 17.77% and a return on equity of 19.49%. The company had revenue of $3.89 billion during the quarter, compared to the consensus estimate of $3.81 billion. During the same quarter in the prior year, the firm earned $0.88 EPS. The company’s revenue was up 3.5% compared to the same quarter last year. As a group, research analysts predict that Baxter International will post 2.89 EPS for the current fiscal year.

Baxter International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 1st were given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 2.87%. The ex-dividend date of this dividend was Thursday, February 29th. Baxter International’s payout ratio is currently 22.22%.

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.