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

Baxter International Inc. (NYSE:BAX) was the recipient of a significant drop in short interest in March. As of March 31st, there was short interest totalling 7,620,000 shares, a drop of 6.8% from the March 15th total of 8,180,000 shares. Based on an average trading volume of 3,700,000 shares, the days-to-cover ratio is presently 2.1 days.

Institutional Investors Weigh In On Baxter International

Hedge funds and other institutional investors have recently made changes to their positions in the company. Headinvest LLC acquired a new stake in shares of Baxter International in the 3rd quarter valued at $25,000. Indiana Trust & Investment Management CO bought a new stake in Baxter International in the third quarter valued at about $27,000. Bruce G. Allen Investments LLC bought a new stake in Baxter International in the fourth quarter valued at about $36,000. Turtle Creek Wealth Advisors LLC bought a new stake in Baxter International in the fourth quarter valued at about $37,000. Finally, Hexagon Capital Partners LLC increased its holdings in Baxter International by 205.4% in the fourth quarter. Hexagon Capital Partners LLC now owns 953 shares of the medical instruments supplier’s stock valued at $37,000 after purchasing an additional 641 shares during the last quarter. 90.19% of the stock is owned by institutional investors and hedge funds.

Baxter International Stock Down 1.2 %

Shares of NYSE BAX traded down $0.47 during mid-day trading on Wednesday, reaching $39.57. 2,658,887 shares of the company traded hands, compared to its average volume of 3,171,708. The company has a debt-to-equity ratio of 1.31, a quick ratio of 1.04 and a current ratio of 1.48. The stock has a market cap of $20.09 billion, a PE ratio of 7.58, a price-to-earnings-growth ratio of 2.15 and a beta of 0.62. The company’s fifty day moving average is $41.82 and its two-hundred day moving average is $38.38. Baxter International has a fifty-two week low of $31.01 and a fifty-two week high of $50.21.

Baxter International (NYSE:BAX) last announced its quarterly earnings data on Thursday, February 8th. The medical instruments supplier reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.02. The company had revenue of $3.89 billion during the quarter, compared to the consensus estimate of $3.81 billion. Baxter International had a return on equity of 19.49% and a net margin of 17.77%. The company’s quarterly revenue was up 3.5% on a year-over-year basis. During the same quarter last year, the company earned $0.88 EPS. On average, analysts expect that Baxter International will post 2.89 earnings per share for the current year.

Baxter International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 1st were paid a $0.29 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $1.16 annualized dividend and a dividend yield of 2.93%. Baxter International’s dividend payout ratio (DPR) is currently 22.22%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on BAX. UBS Group lowered their target price on shares of Baxter International from $40.00 to $36.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 6th. Barclays raised their target price on Baxter International from $52.00 to $54.00 and gave the company an “overweight” rating in a report on Monday, February 12th. StockNews.com raised Baxter International from a “hold” rating to a “buy” rating in a research note on Friday, January 19th. JPMorgan Chase & Co. lifted their price target on Baxter International from $38.00 to $44.00 and gave the stock a “neutral” rating in a research note on Friday, February 9th. Finally, Citigroup lifted their price objective on Baxter International from $41.00 to $44.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 3rd. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $46.30.

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.