Baxter International Inc. (NYSE:BAX) Short Interest Down 12.7% in March

Baxter International Inc. (NYSE:BAX) saw a large decline in short interest in March. As of March 15th, there was short interest totalling 18,330,000 shares, a decline of 12.7% from the February 28th total of 20,990,000 shares. Based on an average daily trading volume, of 4,930,000 shares, the short-interest ratio is presently 3.7 days. Approximately 3.6% of the shares of the stock are sold short.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. CoreFirst Bank & Trust acquired a new stake in shares of Baxter International during the 4th quarter valued at about $26,000. Riverview Trust Co raised its position in Baxter International by 5,488.2% during the fourth quarter. Riverview Trust Co now owns 950 shares of the medical instruments supplier’s stock valued at $28,000 after acquiring an additional 933 shares in the last quarter. LRI Investments LLC lifted its stake in Baxter International by 60.8% in the third 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. MassMutual Private Wealth & Trust FSB grew its position in Baxter International by 48.1% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 2,021 shares of the medical instruments supplier’s stock worth $69,000 after acquiring an additional 656 shares in the last quarter. Finally, Bruce G. Allen Investments LLC increased its stake in shares of 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 worth $76,000 after purchasing an additional 1,867 shares during the last quarter. 90.19% of the stock is owned by institutional investors and hedge funds.

Baxter International Stock Down 6.1 %

Shares of BAX traded down $2.06 during trading hours on Thursday, reaching $31.59. The company’s stock had a trading volume of 1,659,217 shares, compared to its average volume of 4,366,357. The company has a 50 day moving average of $33.34 and a two-hundred day moving average of $33.54. 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 $16.20 billion, a price-to-earnings ratio of -24.68, a P/E/G ratio of 0.93 and a beta of 0.60. Baxter International has a 1-year low of $28.34 and a 1-year high of $43.72.

Baxter International (NYSE:BAX) last released its quarterly earnings data on Thursday, February 20th. The medical instruments supplier reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.06. The firm had revenue of $2.75 billion for the quarter, compared to analyst estimates of $2.67 billion. Baxter International had a negative net margin of 5.05% and a positive return on equity of 16.67%. As a group, research analysts predict that Baxter International will post 2.48 EPS for the current fiscal year.

Baxter International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, February 28th were given a dividend of $0.17 per share. The ex-dividend date was Friday, February 28th. This represents a $0.68 dividend on an annualized basis and a yield of 2.15%. Baxter International’s payout ratio is -53.13%.

Analysts Set New Price Targets

BAX has been the subject of several research reports. Argus raised Baxter International from a “hold” rating to a “buy” rating in a research note on Monday, February 24th. Citigroup cut their target price on shares of Baxter International from $37.00 to $35.00 and set a “neutral” rating for the company in a research note on Wednesday, December 11th. The Goldman Sachs Group started coverage on shares of Baxter International in a report on Wednesday, February 26th. They set a “buy” rating and a $42.00 target price for the company. Barclays upped their price target on Baxter International from $39.00 to $41.00 and gave the company an “overweight” rating in a report on Monday, March 10th. Finally, JPMorgan Chase & Co. decreased their target price on Baxter International from $38.00 to $36.00 and set a “neutral” rating on the stock in a report on Friday, February 21st. One 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target 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.