Baxter International Inc. (NYSE:BAX) Sees Significant Growth in Short Interest

Baxter International Inc. (NYSE:BAX) was the recipient of a large growth in short interest during the month of February. As of February 28th, there was short interest totalling 20,990,000 shares, a growth of 17.7% from the February 13th total of 17,830,000 shares. Approximately 4.1% of the company’s stock are short sold. Based on an average daily volume of 4,900,000 shares, the days-to-cover ratio is currently 4.3 days.

Baxter International Price Performance

Shares of Baxter International stock traded down $0.45 during trading hours on Wednesday, reaching $34.07. The stock had a trading volume of 5,089,359 shares, compared to its average volume of 4,883,922. Baxter International has a twelve month low of $28.33 and a twelve month high of $43.99. 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 firm has a market capitalization of $17.43 billion, a PE ratio of -26.61, a PEG ratio of 0.93 and a beta of 0.60. The stock’s 50 day moving average is $32.66 and its 200 day moving average is $33.90.

Baxter International (NYSE:BAX) last issued its quarterly earnings data on Thursday, February 20th. The medical instruments supplier reported $0.58 EPS for the quarter, beating the consensus estimate of $0.52 by $0.06. The company had revenue of $2.75 billion for the quarter, compared to analyst estimates of $2.67 billion. Baxter International had a positive return on equity of 16.67% and a negative net margin of 5.05%. Equities analysts expect that Baxter International will post 2.48 earnings per share for the current fiscal year.

Baxter International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, February 28th will be given a $0.17 dividend. The ex-dividend date is Friday, February 28th. This represents a $0.68 annualized dividend and a dividend yield of 2.00%. Baxter International’s dividend payout ratio (DPR) is presently -53.13%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GF Fund Management CO. LTD. purchased a new position in Baxter International in the 4th quarter worth approximately $365,000. Public Employees Retirement System of Ohio acquired a new position in Baxter International during the fourth quarter worth $5,102,000. Raiffeisen Bank International AG acquired a new stake in shares of Baxter International in the 4th quarter worth $2,193,000. Mufg Securities Americas Inc. purchased a new position in shares of Baxter International during the 4th quarter worth $220,000. Finally, Parkwood LLC purchased a new position in Baxter International during the fourth quarter worth about $10,747,000. Hedge funds and other institutional investors own 90.19% of the company’s stock.

Analyst Upgrades and Downgrades

BAX has been the subject of a number of analyst reports. JPMorgan Chase & Co. decreased their target price on shares of Baxter International from $38.00 to $36.00 and set a “neutral” rating for the company in a research report on Friday, February 21st. Barclays increased their price target on Baxter International from $39.00 to $41.00 and gave the company an “overweight” rating in a research note on Monday, March 10th. The Goldman Sachs Group initiated coverage on shares of Baxter International in a research note on Wednesday, February 26th. They set a “buy” rating and a $42.00 price target on the stock. Argus raised shares of Baxter International from a “hold” rating to a “buy” rating in a report on Monday, February 24th. Finally, Citigroup dropped their price target on Baxter International from $37.00 to $35.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Baxter International currently has a consensus rating of “Hold” and a consensus target price of $38.56.

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.