Baxter International Inc. (NYSE:BAX) Short Interest Up 21.2% in September

Baxter International Inc. (NYSE:BAX) saw a large increase in short interest in September. As of September 15th, there was short interest totalling 13,200,000 shares, an increase of 21.2% from the August 31st total of 10,890,000 shares. Based on an average daily volume of 4,420,000 shares, the short-interest ratio is currently 3.0 days.

Wall Street Analyst Weigh In

BAX has been the topic of several recent research reports. Citigroup decreased their price target on shares of Baxter International from $38.00 to $37.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. StockNews.com upgraded Baxter International from a “hold” rating to a “buy” rating in a report on Tuesday, September 17th. JPMorgan Chase & Co. decreased their price target on Baxter International from $44.00 to $42.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Morgan Stanley downgraded Baxter International from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $39.00 to $30.00 in a report on Monday, July 15th. Finally, Wells Fargo & Company decreased their target price on shares of Baxter International from $44.00 to $40.00 and set an “equal weight” rating for the company in a report on Wednesday, August 7th. One research 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.com, Baxter International presently has a consensus rating of “Hold” and a consensus target price of $41.73.

Baxter International Trading Down 2.4 %

NYSE:BAX traded down $0.94 during mid-day trading on Monday, hitting $37.97. The company had a trading volume of 4,866,414 shares, compared to its average volume of 4,141,599. The business’s fifty day moving average is $37.37 and its two-hundred day moving average is $37.17. Baxter International has a fifty-two week low of $31.01 and a fifty-two week high of $44.01. The firm has a market cap of $19.35 billion, a P/E ratio of 7.48, a P/E/G ratio of 1.32 and a beta of 0.59. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.91 and a current ratio of 1.40.

Baxter International (NYSE:BAX) last issued its quarterly earnings results on Tuesday, August 6th. The medical instruments supplier reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.02. The company had revenue of $3.81 billion during the quarter, compared to analysts’ expectations of $3.75 billion. Baxter International had a net margin of 16.51% and a return on equity of 18.06%. The business’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period last year, the business earned $0.55 EPS. As a group, research analysts expect that Baxter International will post 2.96 earnings per share for the current year.

Baxter International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, August 30th will be given a $0.29 dividend. The ex-dividend date is Friday, August 30th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.06%. Baxter International’s payout ratio is presently 22.31%.

Institutional Investors Weigh In On Baxter International

Several institutional investors and hedge funds have recently bought and sold shares of BAX. Innealta Capital LLC bought a new position in Baxter International in the 2nd quarter valued at approximately $27,000. LRI Investments LLC bought a new position in shares of Baxter International during the first quarter worth about $39,000. United Community Bank bought a new stake in shares of Baxter International in the 4th quarter valued at $43,000. Versant Capital Management Inc lifted its stake in shares of Baxter International by 974.2% in the 2nd quarter. Versant Capital Management Inc now owns 1,332 shares of the medical instruments supplier’s stock valued at $45,000 after purchasing an additional 1,208 shares during the period. Finally, Trust Co. of Vermont grew its position in shares of Baxter International by 31.0% during the 4th quarter. Trust Co. of Vermont now owns 1,870 shares of the medical instruments supplier’s stock worth $72,000 after buying an additional 443 shares during the period. Institutional investors own 90.19% of the company’s stock.

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.