Short Interest in Baxter International Inc. (NYSE:BAX) Declines By 12.7%

Baxter International Inc. (NYSE:BAX) was the recipient of a large decrease in short interest in the month of March. As of March 15th, there was short interest totalling 18,330,000 shares, a decrease of 12.7% from the February 28th total of 20,990,000 shares. Currently, 3.6% of the company’s stock are short sold. Based on an average daily volume of 4,930,000 shares, the short-interest ratio is currently 3.7 days.

Analyst Ratings Changes

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

Hedge Funds Weigh In On Baxter International

Several hedge funds and other institutional investors have recently made changes to their positions in BAX. CKW Financial Group raised its stake in Baxter International by 19.3% during the 4th quarter. CKW Financial Group now owns 2,625 shares of the medical instruments supplier’s stock valued at $77,000 after acquiring an additional 425 shares in the last quarter. LRI Investments LLC lifted its holdings in Baxter International by 60.8% in the third quarter. LRI Investments LLC now owns 1,560 shares of the medical instruments supplier’s stock worth $59,000 after purchasing an additional 590 shares during the period. MassMutual Private Wealth & Trust FSB grew its position in Baxter International by 48.1% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 2,021 shares of the medical instruments supplier’s stock valued at $69,000 after buying an additional 656 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its position in Baxter International by 5.8% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 13,618 shares of the medical instruments supplier’s stock valued at $397,000 after buying an additional 752 shares in the last quarter. Finally, CoreFirst Bank & Trust acquired a new position in Baxter International during the 4th quarter valued at about $26,000. 90.19% of the stock is currently owned by institutional investors and hedge funds.

Baxter International Stock Down 6.1 %

NYSE:BAX traded down $2.06 during mid-day trading on Thursday, reaching $31.59. The stock had a trading volume of 1,659,217 shares, compared to its average volume of 4,366,357. 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 company has a market capitalization of $16.20 billion, a price-to-earnings ratio of -24.68, a price-to-earnings-growth ratio of 0.93 and a beta of 0.60. Baxter International has a 1-year low of $28.34 and a 1-year high of $43.72. The stock’s 50 day simple moving average is $33.34 and its two-hundred day simple moving average is $33.54.

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, topping analysts’ consensus estimates of $0.52 by $0.06. The firm had revenue of $2.75 billion during the quarter, compared to the consensus estimate 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 anticipate that Baxter International will post 2.48 EPS for the current year.

Baxter International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, February 28th were issued a dividend of $0.17 per share. The ex-dividend date was Friday, February 28th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.15%. Baxter International’s dividend payout ratio (DPR) is presently -53.13%.

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.