Baxter International Inc. (NYSE:BAX) Short Interest Down 12.7% in March

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

Baxter International Price Performance

Baxter International stock opened at $34.03 on Wednesday. The business’s fifty day moving average is $33.31 and its two-hundred day moving average is $33.54. The company has a debt-to-equity ratio of 1.31, a quick ratio of 1.09 and a current ratio of 1.43. The firm has a market cap of $17.46 billion, a P/E ratio of -26.59, a P/E/G ratio of 0.93 and a beta of 0.60. Baxter International has a 52 week low of $28.34 and a 52 week high of $43.72.

Baxter International (NYSE:BAX) last posted its quarterly earnings data on Thursday, February 20th. The medical instruments supplier reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.06. The firm had revenue of $2.75 billion during the quarter, compared to analysts’ expectations of $2.67 billion. Baxter International had a negative net margin of 5.05% and a positive return on equity of 16.67%. Equities research analysts forecast 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 was paid on Tuesday, April 1st. Shareholders of record on Friday, February 28th were paid a $0.17 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.68 dividend on an annualized basis and a yield of 2.00%. Baxter International’s payout ratio is -53.13%.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Baxter International

A number of hedge funds have recently modified their holdings of the business. Dodge & Cox increased its holdings in Baxter International by 13.0% during the 4th quarter. Dodge & Cox now owns 50,377,294 shares of the medical instruments supplier’s stock worth $1,469,002,000 after purchasing an additional 5,779,100 shares in the last quarter. Bank of New York Mellon Corp raised its position in Baxter International by 22.3% in the 4th quarter. Bank of New York Mellon Corp now owns 15,359,040 shares of the medical instruments supplier’s stock valued at $447,870,000 after buying an additional 2,803,920 shares during the last quarter. Geode Capital Management LLC lifted its stake in Baxter International by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 12,446,939 shares of the medical instruments supplier’s stock valued at $362,006,000 after acquiring an additional 290,279 shares in the last quarter. Thompson Siegel & Walmsley LLC boosted its position in Baxter International by 35.1% during the 4th quarter. Thompson Siegel & Walmsley LLC now owns 2,548,215 shares of the medical instruments supplier’s stock worth $74,306,000 after acquiring an additional 662,042 shares during the last quarter. Finally, Sound Shore Management Inc. CT bought a new position in shares of Baxter International during the 4th quarter worth approximately $72,450,000. Institutional investors and hedge funds own 90.19% of the company’s stock.

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.