Short Interest in Baxter International Inc. (NYSE:BAX) Increases By 12.2%

Baxter International Inc. (NYSE:BAX) was the target of a large growth in short interest in July. As of July 31st, there was short interest totalling 9,930,000 shares, a growth of 12.2% from the July 15th total of 8,850,000 shares. Based on an average trading volume of 4,950,000 shares, the short-interest ratio is presently 2.0 days.

Baxter International Stock Performance

Shares of BAX opened at $36.12 on Monday. The company has a market cap of $18.41 billion, a PE ratio of 6.95, a P/E/G ratio of 1.88 and a beta of 0.57. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.48 and a quick ratio of 1.01. Baxter International has a one year low of $31.01 and a one year high of $44.01. The stock has a 50-day moving average of $34.77 and a 200-day moving average of $37.79.

Baxter International (NYSE:BAX) last posted 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 for the quarter, compared to the consensus estimate of $3.75 billion. Baxter International had a return on equity of 18.47% and a net margin of 17.79%. Baxter International’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.55 earnings per share. On average, equities research analysts predict that Baxter International will post 2.91 EPS for the current fiscal year.

Baxter International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, August 30th will be given a $0.29 dividend. The ex-dividend date is Friday, August 30th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.21%. Baxter International’s dividend payout ratio (DPR) is presently 22.31%.

Institutional Investors Weigh In On Baxter International

Institutional investors and hedge funds have recently made changes to their positions in the business. LSV Asset Management bought a new position in Baxter International in the second quarter valued at $140,296,000. Bank of New York Mellon Corp grew its stake in shares of Baxter International by 73.2% in the second quarter. Bank of New York Mellon Corp now owns 6,772,533 shares of the medical instruments supplier’s stock worth $226,541,000 after purchasing an additional 2,862,626 shares during the last quarter. Thompson Siegel & Walmsley LLC bought a new stake in shares of Baxter International in the second quarter worth about $67,263,000. Shapiro Capital Management LLC grew its stake in shares of Baxter International by 19.7% in the second quarter. Shapiro Capital Management LLC now owns 3,285,048 shares of the medical instruments supplier’s stock worth $109,885,000 after purchasing an additional 541,575 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its stake in shares of Baxter International by 79.9% in the fourth quarter. Russell Investments Group Ltd. now owns 1,121,434 shares of the medical instruments supplier’s stock worth $43,357,000 after purchasing an additional 498,007 shares during the last quarter. Hedge funds and other institutional investors own 90.19% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on BAX shares. TD Cowen downgraded Baxter International from a “buy” rating to a “hold” rating and set a $40.00 price objective for the company. in a research report on Friday, May 10th. Citigroup reduced their target price on Baxter International from $38.00 to $37.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. JPMorgan Chase & Co. reduced their target price on Baxter International from $44.00 to $42.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. The Goldman Sachs Group raised their target price on Baxter International from $36.00 to $40.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. Finally, Morgan Stanley cut Baxter International from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $39.00 to $30.00 in a research note on Monday, July 15th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Baxter International has a consensus rating of “Hold” and a consensus target price of $41.73.

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.