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

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in BAX. Sumitomo Mitsui Trust Group Inc. boosted its position in Baxter International by 1.9% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,160,666 shares of the medical instruments supplier's stock valued at $33,845,000 after buying an additional 21,592 shares during the period. Nicholas Hoffman & Company LLC. bought a new stake in shares of Baxter International in the fourth quarter worth about $907,000. Geode Capital Management LLC increased its holdings in Baxter International by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 12,156,660 shares of the medical instruments supplier's stock valued at $460,022,000 after purchasing an additional 170,776 shares during the period. Bank of New York Mellon Corp raised its position in Baxter International by 22.3% during the 4th quarter. Bank of New York Mellon Corp now owns 15,359,040 shares of the medical instruments supplier's stock valued at $447,870,000 after purchasing an additional 2,803,920 shares during the last quarter. Finally, Toronto Dominion Bank raised its position in Baxter International by 15.4% during the 3rd quarter. Toronto Dominion Bank now owns 170,855 shares of the medical instruments supplier's stock valued at $6,487,000 after purchasing an additional 22,787 shares during the last quarter. Institutional investors own 90.19% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently commented on BAX shares. Barclays boosted their price target on shares of Baxter International from $39.00 to $41.00 and gave the company an "overweight" rating in a research report on Monday, March 10th. Citigroup lowered their price target on Baxter International from $37.00 to $35.00 and set a "neutral" rating on the stock in a report on Wednesday, December 11th. The Goldman Sachs Group assumed coverage on Baxter International in a report on Wednesday, February 26th. They set a "buy" rating and a $42.00 price objective for the company. JPMorgan Chase & Co. decreased their price objective on shares of Baxter International from $38.00 to $36.00 and set a "neutral" rating on the stock in a research report on Friday, February 21st. Finally, Argus upgraded shares of Baxter International from a "hold" rating to a "buy" rating in a research report on Monday, February 24th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $38.56.

Baxter International Trading Down 8.2 %

Shares of BAX traded down $2.58 during mid-day trading on Friday, reaching $28.77. The company's stock had a trading volume of 5,994,926 shares, compared to its average volume of 4,405,622. The company has a current ratio of 1.43, a quick ratio of 1.09 and a debt-to-equity ratio of 1.31. Baxter International has a 52 week low of $28.34 and a 52 week high of $42.86. The company's fifty day moving average price is $33.25 and its two-hundred day moving average price is $33.36. The stock has a market cap of $14.76 billion, a PE ratio of -22.48, a P/E/G ratio of 0.93 and a beta of 0.64.

Baxter International (NYSE:BAX - Get Free Report) last posted its quarterly earnings results on Thursday, February 20th. The medical instruments supplier reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.06. The business had revenue of $2.75 billion during the quarter, compared to the consensus estimate of $2.67 billion. Baxter International had a negative net margin of 5.05% and a positive return on equity of 16.67%. On average, analysts predict that Baxter International will post 2.48 earnings per share for the current fiscal year.

Baxter International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, February 28th were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date was Friday, February 28th. Baxter International's dividend payout ratio (DPR) is presently -53.13%.

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.