Baxter International Inc. (NYSE:BAX) Short Interest Up 6.1% in December

Baxter International Inc. (NYSE:BAX) was the recipient of a significant increase in short interest in the month of December. As of December 15th, there was short interest totalling 13,120,000 shares, an increase of 6.1% from the November 30th total of 12,370,000 shares. Based on an average trading volume of 4,160,000 shares, the days-to-cover ratio is currently 3.2 days.

Baxter International Price Performance

Shares of NYSE BAX opened at $29.16 on Thursday. The firm’s 50-day simple moving average is $32.49 and its 200 day simple moving average is $35.02. The stock has a market cap of $14.89 billion, a P/E ratio of 145.81, a P/E/G ratio of 12.74 and a beta of 0.57. The company has a quick ratio of 1.09, a current ratio of 1.43 and a debt-to-equity ratio of 1.31. Baxter International has a fifty-two week low of $28.33 and a fifty-two week high of $44.01.

Baxter International (NYSE:BAX) last released its quarterly earnings results on Friday, November 8th. The medical instruments supplier reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.02. The company had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $3.85 billion. Baxter International had a net margin of 0.77% and a return on equity of 18.30%. Baxter International’s revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.68 EPS. Equities analysts expect that Baxter International will post 1.92 EPS for the current year.

Baxter International Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, November 29th will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date is Friday, November 29th. Baxter International’s payout ratio is currently 340.00%.

Hedge Funds Weigh In On Baxter International

Several hedge funds have recently modified their holdings of BAX. Oregon Public Employees Retirement Fund raised its holdings in shares of Baxter International by 0.7% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 43,751 shares of the medical instruments supplier’s stock worth $1,463,000 after purchasing an additional 310 shares in the last quarter. Archer Investment Corp increased its holdings in shares of Baxter International by 20.8% in the second quarter. Archer Investment Corp now owns 2,235 shares of the medical instruments supplier’s stock valued at $75,000 after buying an additional 385 shares in the last quarter. M&R Capital Management Inc. lifted its position in shares of Baxter International by 9.5% during the 3rd quarter. M&R Capital Management Inc. now owns 4,480 shares of the medical instruments supplier’s stock valued at $170,000 after acquiring an additional 390 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Baxter International by 6.5% during the 3rd quarter. GAMMA Investing LLC now owns 7,517 shares of the medical instruments supplier’s stock valued at $285,000 after acquiring an additional 459 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its stake in shares of Baxter International by 23.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,519 shares of the medical instruments supplier’s stock worth $96,000 after acquiring an additional 475 shares in the last quarter. 90.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently issued reports on the company. StockNews.com downgraded Baxter International from a “buy” rating to a “hold” rating in a report on Monday, November 11th. Stifel Nicolaus dropped their target price on Baxter International from $46.00 to $38.00 and set a “buy” rating on the stock in a research report on Monday, November 11th. Finally, Citigroup reduced their price target on shares of Baxter International from $37.00 to $35.00 and set a “neutral” rating for the company in a report on Wednesday, December 11th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Baxter International currently has a consensus rating of “Hold” and an average target price of $40.45.

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.