Baxter International Inc. (NYSE:BAX) Short Interest Update

Baxter International Inc. (NYSE:BAX - Get Free Report) was the recipient of a significant growth in short interest during the month of October. As of October 15th, there was short interest totalling 12,790,000 shares, a growth of 6.3% from the September 30th total of 12,030,000 shares. Based on an average daily trading volume, of 3,940,000 shares, the days-to-cover ratio is presently 3.2 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp raised its position in shares of Baxter International by 73.2% in the 2nd 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. LSV Asset Management purchased a new stake in Baxter International during the 2nd quarter valued at $140,296,000. Shapiro Capital Management LLC increased its holdings in shares of Baxter International by 19.7% in the 2nd 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 in the last quarter. Thompson Siegel & Walmsley LLC bought a new stake in shares of Baxter International in the 2nd quarter worth $67,263,000. Finally, Coho Partners Ltd. purchased a new position in shares of Baxter International in the third quarter worth $57,229,000. Institutional investors own 90.19% of the company's stock.

Baxter International Stock Up 0.5 %

Shares of BAX traded up $0.17 on Friday, reaching $35.87. The stock had a trading volume of 3,117,355 shares, compared to its average volume of 4,043,347. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.91 and a current ratio of 1.40. Baxter International has a 12-month low of $32.28 and a 12-month high of $44.01. The firm has a market capitalization of $18.30 billion, a price-to-earnings ratio of 7.43, a price-to-earnings-growth ratio of 1.21 and a beta of 0.59. The company has a 50-day simple moving average of $37.64 and a 200-day simple moving average of $36.29.

Baxter International (NYSE:BAX - Get Free Report) last issued its quarterly earnings results on Tuesday, August 6th. The medical instruments supplier reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.02. The company had revenue of $3.81 billion during the quarter, compared to analyst estimates of $3.75 billion. Baxter International had a net margin of 16.51% and a return on equity of 18.06%. Baxter International's quarterly revenue was up 2.8% compared to the same quarter last year. During the same period last year, the business earned $0.55 EPS. Sell-side analysts predict that Baxter International will post 2.96 EPS for the current year.

Wall Street Analysts Forecast Growth

BAX has been the subject of several analyst reports. Morgan Stanley cut shares of 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 report on Monday, July 15th. Wells Fargo & Company dropped their target price on shares of Baxter International from $44.00 to $40.00 and set an "equal weight" rating for the company in a report on Wednesday, August 7th. StockNews.com upgraded Baxter International from a "hold" rating to a "buy" rating in a report on Tuesday, October 22nd. Citigroup increased their price objective on Baxter International from $38.00 to $40.00 and gave the stock a "neutral" rating in a report on Tuesday, October 1st. Finally, The Goldman Sachs Group lifted their price objective on Baxter International from $36.00 to $40.00 and gave the stock a "neutral" rating in a research report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $41.20.

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.