Short Interest in Baxter International Inc. (NYSE:BAX) Drops By 10.3%

Baxter International Inc. (NYSE:BAX) was the recipient of a significant decrease in short interest during the month of October. As of October 31st, there was short interest totalling 11,470,000 shares, a decrease of 10.3% from the October 15th total of 12,790,000 shares. Based on an average daily volume of 3,560,000 shares, the short-interest ratio is currently 3.2 days.

Baxter International Trading Down 1.5 %

Shares of Baxter International stock traded down $0.50 during trading on Tuesday, hitting $32.52. The company’s stock had a trading volume of 4,509,390 shares, compared to its average volume of 4,096,504. The stock has a market cap of $16.60 billion, a price-to-earnings ratio of 162.11, a price-to-earnings-growth ratio of 12.69 and a beta of 0.60. The stock has a 50-day moving average price of $36.73 and a two-hundred day moving average price of $35.76. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.43 and a quick ratio of 1.09. Baxter International has a 52 week low of $31.60 and a 52 week high of $44.01.

Baxter International (NYSE:BAX) last issued 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 firm had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $3.85 billion. Baxter International had a return on equity of 18.30% and a net margin of 0.77%. The business’s revenue was up 3.8% compared to the same quarter last year. During the same period last year, the business posted $0.68 EPS. Equities research analysts anticipate that Baxter International will post 1.98 EPS for the current fiscal year.

Baxter International Cuts Dividend

The business 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 $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 2.09%. The ex-dividend date is Friday, November 29th. Baxter International’s dividend payout ratio (DPR) is currently 580.03%.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Baxter International

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC raised its stake in Baxter International by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 12,156,660 shares of the medical instruments supplier’s stock worth $460,022,000 after buying an additional 170,776 shares during the period. Bank of New York Mellon Corp lifted its holdings 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 purchasing an additional 2,862,626 shares in the last quarter. LSV Asset Management acquired a new stake in Baxter International in the 2nd quarter valued at $140,296,000. Shapiro Capital Management LLC increased its stake in Baxter International by 19.7% during the 2nd quarter. Shapiro Capital Management LLC now owns 3,285,048 shares of the medical instruments supplier’s stock valued at $109,885,000 after purchasing an additional 541,575 shares in the last quarter. Finally, Thompson Siegel & Walmsley LLC bought a new stake in Baxter International during the 2nd quarter valued at $67,263,000. 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.