Baxter International Inc. (NYSE:BAX) Short Interest Up 27.0% in April

Baxter International Inc. (NYSE:BAX) was the recipient of a large increase in short interest in the month of April. As of April 15th, there was short interest totalling 9,680,000 shares, an increase of 27.0% from the March 31st total of 7,620,000 shares. Based on an average trading volume of 3,530,000 shares, the days-to-cover ratio is currently 2.7 days.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on BAX shares. Barclays increased their price target on shares of Baxter International from $52.00 to $54.00 and gave the company an “overweight” rating in a report on Monday, February 12th. UBS Group lowered their target price on shares of Baxter International from $40.00 to $36.00 and set a “neutral” rating on the stock in a report on Tuesday, February 6th. Bank of America raised their target price on shares of Baxter International from $42.00 to $45.00 and gave the stock a “neutral” rating in a report on Tuesday, March 5th. Citigroup lifted their price objective on shares of Baxter International from $41.00 to $44.00 and gave the company a “neutral” rating in a research note on Wednesday, April 3rd. Finally, JPMorgan Chase & Co. lifted their price objective 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. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $46.30.

Hedge Funds Weigh In On Baxter International

Institutional investors have recently made changes to their positions in the stock. Headinvest LLC acquired a new position in shares of Baxter International during the third quarter valued at about $25,000. Bruce G. Allen Investments LLC acquired a new position in shares of Baxter International during the fourth quarter valued at about $36,000. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Baxter International during the fourth quarter valued at about $37,000. Hexagon Capital Partners LLC raised its holdings in shares of Baxter International by 205.4% during the fourth quarter. Hexagon Capital Partners LLC now owns 953 shares of the medical instruments supplier’s stock valued at $37,000 after purchasing an additional 641 shares during the period. Finally, CKW Financial Group acquired a new position in shares of Baxter International during the fourth quarter valued at about $43,000. Institutional investors and hedge funds own 90.19% of the company’s stock.

Baxter International Stock Performance

Shares of Baxter International stock opened at $40.13 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.48 and a debt-to-equity ratio of 1.31. Baxter International has a twelve month low of $31.01 and a twelve month high of $50.21. The stock has a market cap of $20.38 billion, a price-to-earnings ratio of 7.69, a P/E/G ratio of 2.16 and a beta of 0.62. The company’s fifty day moving average is $41.82 and its 200 day moving average is $38.55.

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

Baxter International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 1st were given a dividend of $0.29 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $1.16 dividend on an annualized basis and a yield of 2.89%. Baxter International’s dividend payout ratio (DPR) is currently 22.22%.

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.