Short Interest in Baxter International Inc. (NYSE:BAX) Decreases By 6.8%

Baxter International Inc. (NYSE:BAX) saw a large decline in short interest during the month of March. As of March 31st, there was short interest totalling 7,620,000 shares, a decline of 6.8% from the March 15th total of 8,180,000 shares. Based on an average daily volume of 3,700,000 shares, the short-interest ratio is presently 2.1 days.

Baxter International Price Performance

Shares of NYSE:BAX opened at $40.04 on Tuesday. The company has a market cap of $20.33 billion, a price-to-earnings ratio of 7.67, a PEG ratio of 2.17 and a beta of 0.62. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.48 and a quick ratio of 1.04. The firm has a 50 day simple moving average of $41.82 and a 200 day simple moving average of $38.37. Baxter International has a one year low of $31.01 and a one year high of $50.21.

Baxter International (NYSE:BAX) last issued its quarterly earnings data on Thursday, February 8th. The medical instruments supplier reported $0.88 EPS for the quarter, beating the consensus estimate of $0.86 by $0.02. The business had revenue of $3.89 billion during the quarter, compared to the consensus estimate of $3.81 billion. Baxter International had a net margin of 17.77% and a return on equity of 19.49%. The firm’s revenue was up 3.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.88 EPS. Research analysts predict that Baxter International will post 2.89 earnings per share for the current fiscal year.

Baxter International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 1st were given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 2.90%. The ex-dividend date was Thursday, February 29th. Baxter International’s dividend payout ratio (DPR) is currently 22.22%.

Hedge Funds Weigh In On Baxter International

Several institutional investors and hedge funds have recently added to or reduced their stakes in BAX. Dodge & Cox increased its position in Baxter International by 178.0% in the 4th quarter. Dodge & Cox now owns 27,381,465 shares of the medical instruments supplier’s stock valued at $1,058,567,000 after acquiring an additional 17,533,024 shares during the period. Pzena Investment Management LLC bought a new stake in Baxter International during the third quarter valued at $215,935,000. Carmignac Gestion boosted its position in Baxter International by 467.0% during the third quarter. Carmignac Gestion now owns 4,848,773 shares of the medical instruments supplier’s stock valued at $182,992,000 after acquiring an additional 3,993,537 shares during the last quarter. Shapiro Capital Management LLC bought a new stake in Baxter International during the third quarter valued at $114,307,000. Finally, Bank of New York Mellon Corp boosted its position in Baxter International by 69.0% during the third quarter. Bank of New York Mellon Corp now owns 6,491,343 shares of the medical instruments supplier’s stock valued at $244,983,000 after acquiring an additional 2,650,959 shares during the last quarter. 90.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. JPMorgan Chase & Co. upped their price target on shares of Baxter International from $38.00 to $44.00 and gave the company a “neutral” rating in a research note on Friday, February 9th. Barclays increased their target price on shares of Baxter International from $52.00 to $54.00 and gave the stock an “overweight” rating in a research report on Monday, February 12th. UBS Group decreased their target price on shares of Baxter International from $40.00 to $36.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 6th. Citigroup increased their target price on shares of Baxter International from $41.00 to $44.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 3rd. Finally, StockNews.com raised shares of Baxter International from a “hold” rating to a “buy” rating in a report on Friday, January 19th. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $46.30.

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.