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

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

Baxter International Trading Down 1.3 %

Baxter International stock traded down $0.46 during trading on Thursday, reaching $33.64. 130,897 shares of the company were exchanged, compared to its average volume of 4,221,352. Baxter International has a 52-week low of $28.34 and a 52-week high of $43.99. The company has a market capitalization of $17.21 billion, a P/E ratio of -26.08, a PEG ratio of 0.93 and a beta of 0.60. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.43 and a quick ratio of 1.09. The stock’s 50 day simple moving average is $32.75 and its two-hundred day simple moving average is $33.90.

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

Baxter International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders 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 dividend on an annualized basis and a yield of 2.02%. Baxter International’s dividend payout ratio is currently -53.13%.

Institutional Investors Weigh In On Baxter International

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. CoreFirst Bank & Trust purchased a new stake in shares of Baxter International in the 4th quarter valued at $26,000. Riverview Trust Co raised its holdings in shares of Baxter International by 5,488.2% in the 4th quarter. Riverview Trust Co now owns 950 shares of the medical instruments supplier’s stock valued at $28,000 after buying an additional 933 shares during the period. LRI Investments LLC raised its holdings in shares of Baxter International by 60.8% in the 3rd quarter. LRI Investments LLC now owns 1,560 shares of the medical instruments supplier’s stock valued at $59,000 after buying an additional 590 shares during the period. Bruce G. Allen Investments LLC raised its holdings in shares of Baxter International by 247.3% in the 4th quarter. Bruce G. Allen Investments LLC now owns 2,622 shares of the medical instruments supplier’s stock valued at $76,000 after buying an additional 1,867 shares during the period. Finally, CKW Financial Group raised its holdings in shares of Baxter International by 19.3% in the 4th quarter. CKW Financial Group now owns 2,625 shares of the medical instruments supplier’s stock valued at $77,000 after buying an additional 425 shares during the period. Hedge funds and other institutional investors own 90.19% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on BAX shares. The Goldman Sachs Group started coverage on Baxter International in a research note on Wednesday, February 26th. They issued a “buy” rating and a $42.00 price objective for the company. Argus upgraded Baxter International from a “hold” rating to a “buy” rating in a research note on Monday, February 24th. Citigroup dropped their price objective on Baxter International from $37.00 to $35.00 and set a “neutral” rating on the stock in a report on Wednesday, December 11th. Barclays raised their price objective on Baxter International from $39.00 to $41.00 and gave the company an “overweight” rating in a report on Monday, March 10th. Finally, JPMorgan Chase & Co. dropped their price objective on Baxter International from $38.00 to $36.00 and set a “neutral” rating on the stock in a report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $38.56.

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.