Baxter International Inc. (NYSE:BAX) Sees Large Growth in Short Interest

Baxter International Inc. (NYSE:BAX) was the target of a large increase in short interest in the month of December. As of December 15th, there was short interest totalling 13,120,000 shares, an increase of 6.1% from the November 30th total of 12,370,000 shares. Based on an average daily volume of 4,160,000 shares, the days-to-cover ratio is presently 3.2 days.

Baxter International Trading Up 0.3 %

Shares of BAX stock opened at $29.26 on Friday. The business has a 50-day moving average price of $32.34 and a two-hundred day moving average price of $34.98. Baxter International has a 12-month low of $28.33 and a 12-month high of $44.01. The company has a quick ratio of 1.09, a current ratio of 1.43 and a debt-to-equity ratio of 1.31. The firm has a market cap of $14.94 billion, a P/E ratio of 146.31, a price-to-earnings-growth ratio of 12.74 and a beta of 0.57.

Baxter International (NYSE:BAX) last released its 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. Baxter International had a return on equity of 18.30% and a net margin of 0.77%. The company had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $3.85 billion. During the same quarter in the previous year, the company posted $0.68 EPS. Baxter International’s quarterly revenue was up 3.8% compared to the same quarter last year. Equities analysts anticipate that Baxter International will post 1.92 EPS for the current fiscal year.

Baxter International Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, November 29th were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 2.32%. The ex-dividend date of this dividend was Friday, November 29th. Baxter International’s dividend payout ratio is currently 340.00%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. StockNews.com cut shares of Baxter International from a “buy” rating to a “hold” rating in a research note on Monday, November 11th. Stifel Nicolaus reduced their price target on shares of Baxter International from $46.00 to $38.00 and set a “buy” rating for the company in a research report on Monday, November 11th. Finally, Citigroup decreased their price target on shares of Baxter International from $37.00 to $35.00 and set a “neutral” rating on the stock in a report on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $40.45.

Institutional Trading of Baxter International

Several hedge funds have recently added to or reduced their stakes in BAX. First PREMIER Bank bought a new position in shares of Baxter International during the third quarter valued at about $25,000. Fortitude Family Office LLC bought a new position in Baxter International during the 3rd quarter worth approximately $38,000. LRI Investments LLC increased its stake in Baxter International by 60.8% in the 3rd 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. Cromwell Holdings LLC bought a new stake in Baxter International in the third quarter valued at approximately $62,000. Finally, Archer Investment Corp boosted its stake in shares of Baxter International by 20.8% during the second quarter. Archer Investment Corp now owns 2,235 shares of the medical instruments supplier’s stock valued at $75,000 after purchasing an additional 385 shares during the period. 90.19% of the stock is owned by institutional investors.

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.