Baxter International Inc. (NYSE:BAX) Short Interest Update

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

Institutional Investors Weigh In On Baxter International

A number of hedge funds have recently modified their holdings of the business. TD Private Client Wealth LLC increased its position in shares of Baxter International by 29.5% during the third quarter. TD Private Client Wealth LLC now owns 41,027 shares of the medical instruments supplier’s stock worth $1,558,000 after acquiring an additional 9,357 shares in the last quarter. Toronto Dominion Bank increased its holdings in Baxter International by 15.4% during the 3rd quarter. Toronto Dominion Bank now owns 170,855 shares of the medical instruments supplier’s stock worth $6,487,000 after purchasing an additional 22,787 shares in the last quarter. Empire Financial Management Company LLC lifted its holdings in shares of Baxter International by 263.3% in the third quarter. Empire Financial Management Company LLC now owns 26,907 shares of the medical instruments supplier’s stock valued at $1,022,000 after purchasing an additional 19,500 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Baxter International by 1.4% during the third 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. Finally, LRI Investments LLC grew its holdings in shares of Baxter International by 60.8% during the third quarter. LRI Investments LLC now owns 1,560 shares of the medical instruments supplier’s stock worth $59,000 after buying an additional 590 shares in the last quarter. Institutional investors and hedge funds own 90.19% of the company’s stock.

Baxter International Price Performance

NYSE BAX traded down $0.50 on Tuesday, hitting $32.52. 4,509,390 shares of the company were exchanged, compared to its average volume of 4,096,504. The company has a current ratio of 1.43, a quick ratio of 1.09 and a debt-to-equity ratio of 1.31. The company has a market cap of $16.60 billion, a P/E ratio of 162.11, a P/E/G ratio of 12.69 and a beta of 0.60. Baxter International has a 1-year low of $31.60 and a 1-year high of $44.01. The firm has a 50 day moving average of $36.73 and a two-hundred day moving average of $35.76.

Baxter International (NYSE:BAX) last issued its quarterly earnings results on Friday, November 8th. The medical instruments supplier reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.02. Baxter International had a return on equity of 18.30% and a net margin of 0.77%. The business had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.85 billion. During the same quarter in the prior year, the firm posted $0.68 earnings per share. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. On average, equities analysts predict that Baxter International will post 1.98 EPS for the current year.

Baxter International Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, November 29th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 2.09%. The ex-dividend date is Friday, November 29th. Baxter International’s payout ratio is presently 580.03%.

Analyst Upgrades and Downgrades

Several research analysts have commented on BAX shares. JPMorgan Chase & Co. decreased their target price on shares of Baxter International from $44.00 to $42.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. StockNews.com cut shares of Baxter International from a “buy” rating to a “hold” rating in a report on Monday, November 11th. The Goldman Sachs Group boosted their target price on Baxter International from $36.00 to $40.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Wells Fargo & Company lowered their price target on Baxter International from $44.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 7th. Finally, Stifel Nicolaus cut their price objective on Baxter International from $46.00 to $38.00 and set a “buy” rating for the company in a report on Monday, November 11th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $40.91.

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.