Baxter International Inc. (NYSE:BAX) Short Interest Update

Baxter International Inc. (NYSE:BAX) saw a significant growth in short interest in the month of November. As of November 15th, there was short interest totalling 12,790,000 shares, a growth of 11.5% from the October 31st total of 11,470,000 shares. Based on an average daily volume of 3,800,000 shares, the short-interest ratio is presently 3.4 days.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. The Goldman Sachs Group increased their target price on shares of Baxter International from $36.00 to $40.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. JPMorgan Chase & Co. cut their target price on Baxter International from $44.00 to $42.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Citigroup upped their target price on Baxter International from $38.00 to $40.00 and gave the company a “neutral” rating in a research report on Tuesday, October 1st. Wells Fargo & Company cut their price target on Baxter International from $44.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 7th. Finally, StockNews.com downgraded Baxter International from a “buy” rating to a “hold” rating in a report on Monday, November 11th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $40.91.

Institutional Investors Weigh In On Baxter International

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its stake in Baxter International by 1.4% during the third quarter. Geode Capital Management LLC now owns 12,156,660 shares of the medical instruments supplier’s stock valued at $460,022,000 after buying an additional 170,776 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Baxter International by 73.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 6,772,533 shares of the medical instruments supplier’s stock worth $226,541,000 after buying an additional 2,862,626 shares during the last quarter. LSV Asset Management bought a new position in shares of Baxter International in the 2nd quarter worth about $140,296,000. Shapiro Capital Management LLC boosted its stake in Baxter International by 19.7% in the second quarter. Shapiro Capital Management LLC now owns 3,285,048 shares of the medical instruments supplier’s stock valued at $109,885,000 after acquiring an additional 541,575 shares during the period. Finally, Thompson Siegel & Walmsley LLC acquired a new position in Baxter International during the 2nd quarter valued at approximately $67,263,000. Hedge funds and other institutional investors own 90.19% of the company’s stock.

Baxter International Trading Down 1.3 %

Baxter International stock opened at $33.13 on Wednesday. Baxter International has a 52 week low of $31.60 and a 52 week high of $44.01. The stock has a market cap of $16.92 billion, a PE ratio of 165.66, a P/E/G ratio of 13.32 and a beta of 0.57. The stock has a 50-day moving average price of $35.38 and a 200 day moving average price of $35.56. The company has a current ratio of 1.43, a quick ratio of 1.09 and a debt-to-equity ratio of 1.31.

Baxter International (NYSE:BAX) last posted its quarterly earnings results on Friday, November 8th. The medical instruments supplier reported $0.80 earnings per share 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 quarter last year, the firm posted $0.68 earnings per share. Equities research analysts predict that Baxter International will post 1.98 earnings per share for the current fiscal year.

Baxter International Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, November 29th will be paid a $0.17 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.05%. Baxter International’s dividend payout ratio (DPR) is currently 340.02%.

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.