Baxter International Inc. (NYSE:BAX) Short Interest Down 8.9% in September

Baxter International Inc. (NYSE:BAX) saw a large decrease in short interest in September. As of September 30th, there was short interest totalling 12,030,000 shares, a decrease of 8.9% from the September 15th total of 13,200,000 shares. Based on an average trading volume of 4,300,000 shares, the short-interest ratio is currently 2.8 days.

Baxter International Stock Performance

Shares of NYSE:BAX traded down $0.11 during trading on Thursday, hitting $36.65. The stock had a trading volume of 3,868,688 shares, compared to its average volume of 4,139,624. The stock has a 50-day simple moving average of $37.63 and a two-hundred day simple moving average of $36.72. The stock has a market capitalization of $18.68 billion, a price-to-earnings ratio of 6.96, a price-to-earnings-growth ratio of 1.28 and a beta of 0.59. Baxter International has a 12-month low of $31.66 and a 12-month high of $44.01. The company has a quick ratio of 0.91, a current ratio of 1.40 and a debt-to-equity ratio of 1.35.

Baxter International (NYSE:BAX) last announced its quarterly earnings data on Tuesday, August 6th. The medical instruments supplier reported $0.68 EPS for the quarter, beating the consensus estimate of $0.66 by $0.02. The business had revenue of $3.81 billion during the quarter, compared to analysts’ expectations of $3.75 billion. Baxter International had a net margin of 16.51% and a return on equity of 18.06%. The business’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.55 EPS. On average, equities research analysts expect that Baxter International will post 2.96 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on BAX shares. Citigroup boosted their price target on shares of Baxter International from $38.00 to $40.00 and gave the company a “neutral” rating in a report on Tuesday, October 1st. Evercore ISI reduced their price objective on shares of Baxter International from $46.00 to $45.00 and set an “outperform” rating for the company in a research note on Tuesday, July 2nd. 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 report on Thursday, August 8th. StockNews.com cut Baxter International from a “buy” rating to a “hold” rating in a research note on Tuesday, October 1st. Finally, Wells Fargo & Company lowered their price target on shares of Baxter International from $44.00 to $40.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $42.00.

Institutional Investors Weigh In On Baxter International

Several hedge funds have recently added to or reduced their stakes in BAX. First PREMIER Bank acquired a new position in shares of Baxter International in the 3rd quarter valued at about $25,000. Innealta Capital LLC purchased a new stake in Baxter International in the 2nd quarter worth approximately $27,000. LRI Investments LLC acquired a new stake in shares of Baxter International during the 1st quarter worth approximately $39,000. Versant Capital Management Inc increased its holdings in shares of Baxter International by 974.2% during the 2nd quarter. Versant Capital Management Inc now owns 1,332 shares of the medical instruments supplier’s stock valued at $45,000 after purchasing an additional 1,208 shares in the last quarter. Finally, Trust Co. of Vermont increased its holdings in shares of Baxter International by 31.0% during the 4th quarter. Trust Co. of Vermont now owns 1,870 shares of the medical instruments supplier’s stock valued at $72,000 after purchasing an additional 443 shares in the last quarter. 90.19% of the stock is owned by hedge funds and other 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.