Baxter International Inc. (NYSE:BAX) Short Interest Up 27.0% in April

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

Institutional Investors Weigh In On Baxter International

A number of large investors have recently modified their holdings of the stock. Massmutual Trust Co. FSB ADV grew its stake in shares of Baxter International by 17.0% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,797 shares of the medical instruments supplier’s stock valued at $69,000 after buying an additional 261 shares in the last quarter. Lindbrook Capital LLC boosted its holdings in Baxter International by 8.2% in the third quarter. Lindbrook Capital LLC now owns 4,214 shares of the medical instruments supplier’s stock valued at $159,000 after purchasing an additional 318 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Baxter International by 20.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 2,400 shares of the medical instruments supplier’s stock valued at $93,000 after purchasing an additional 406 shares during the last quarter. Private Trust Co. NA boosted its holdings in Baxter International by 8.9% in the fourth quarter. Private Trust Co. NA now owns 5,222 shares of the medical instruments supplier’s stock valued at $202,000 after purchasing an additional 428 shares during the last quarter. Finally, Zions Bancorporation N.A. boosted its holdings in Baxter International by 10.1% in the third quarter. Zions Bancorporation N.A. now owns 4,774 shares of the medical instruments supplier’s stock valued at $180,000 after purchasing an additional 439 shares during the last quarter. Institutional investors and hedge funds own 90.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on BAX shares. Citigroup boosted their target price on Baxter International from $41.00 to $44.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 3rd. Barclays increased their target price on Baxter International from $52.00 to $54.00 and gave the stock an “overweight” rating in a research report on Monday, February 12th. StockNews.com upgraded Baxter International from a “hold” rating to a “buy” rating in a research report on Friday, January 19th. Bank of America increased their target price on Baxter International from $42.00 to $45.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 5th. Finally, JPMorgan Chase & Co. increased their target price on Baxter International from $38.00 to $44.00 and gave the stock a “neutral” rating in a research report on Friday, February 9th. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $46.30.

Baxter International Stock Performance

Shares of NYSE:BAX opened at $40.13 on Friday. The firm has a market capitalization of $20.38 billion, a PE ratio of 7.69, a P/E/G ratio of 2.16 and a beta of 0.62. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.48 and a quick ratio of 1.04. The business has a 50-day moving average of $41.82 and a two-hundred day moving average of $38.55. Baxter International has a 12 month low of $31.01 and a 12 month high of $50.21.

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

Baxter International Announces Dividend

The business 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 dividend on an annualized basis and a dividend yield of 2.89%. Baxter International’s dividend payout ratio (DPR) is currently 22.22%.

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.