Baxter International Inc. (NYSE:BAX) Short Interest Up 17.7% in February

Baxter International Inc. (NYSE:BAX) was the recipient of a large growth in short interest in the month of February. As of February 28th, there was short interest totalling 20,990,000 shares, a growth of 17.7% from the February 13th total of 17,830,000 shares. Based on an average daily volume of 4,900,000 shares, the days-to-cover ratio is currently 4.3 days. Currently, 4.1% of the shares of the company are sold short.

Baxter International Stock Down 1.8 %

Shares of NYSE:BAX opened at $33.47 on Friday. The firm has a fifty day moving average of $32.83 and a 200 day moving average of $33.90. Baxter International has a 52-week low of $28.34 and a 52-week high of $43.99. 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 capitalization of $17.12 billion, a PE ratio of -26.15, a price-to-earnings-growth ratio of 0.93 and a beta of 0.60.

Baxter International (NYSE:BAX) last posted its quarterly earnings data on Thursday, February 20th. The medical instruments supplier reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 positive return on equity of 16.67% and a negative net margin of 5.05%. As a group, research analysts anticipate that Baxter International will post 2.48 EPS for the current fiscal year.

Baxter International Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, February 28th will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date of this dividend is Friday, February 28th. Baxter International’s payout ratio is currently -53.13%.

Institutional Investors Weigh In On Baxter International

A number of hedge funds have recently made changes to their positions in BAX. CoreFirst Bank & Trust purchased a new position in Baxter International in the 4th quarter worth $26,000. Riverview Trust Co increased its holdings in shares of Baxter International by 5,488.2% in the fourth quarter. Riverview Trust Co now owns 950 shares of the medical instruments supplier’s stock worth $28,000 after buying an additional 933 shares during the period. LRI Investments LLC lifted its stake in shares of Baxter International by 60.8% in the 3rd quarter. LRI Investments LLC now owns 1,560 shares of the medical instruments supplier’s stock valued at $59,000 after acquiring an additional 590 shares during the last quarter. Bruce G. Allen Investments LLC boosted its holdings in Baxter International by 247.3% during the 4th quarter. Bruce G. Allen Investments LLC now owns 2,622 shares of the medical instruments supplier’s stock valued at $76,000 after acquiring an additional 1,867 shares during the period. Finally, CKW Financial Group grew its position in Baxter International by 19.3% during the 4th quarter. CKW Financial Group now owns 2,625 shares of the medical instruments supplier’s stock worth $77,000 after acquiring an additional 425 shares during the last quarter. 90.19% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on BAX. Argus upgraded Baxter International from a “hold” rating to a “buy” rating in a research note on Monday, February 24th. Barclays lifted their price objective on shares of Baxter International from $39.00 to $41.00 and gave the stock an “overweight” rating in a research report on Monday, March 10th. The Goldman Sachs Group began coverage on shares of Baxter International in a research report on Wednesday, February 26th. They set a “buy” rating and a $42.00 target price for the company. Citigroup lowered 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. Finally, JPMorgan Chase & Co. reduced their price objective on Baxter International from $38.00 to $36.00 and set a “neutral” rating for the company in a report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $38.56.

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.