Baxter International Inc. (NYSE:BAX) Short Interest Up 6.1% in December

Baxter International Inc. (NYSE:BAX - Get Free Report) was the recipient of a significant growth in short interest in the month of December. As of December 15th, there was short interest totalling 13,120,000 shares, a growth of 6.1% from the November 30th total of 12,370,000 shares. Based on an average trading volume of 4,160,000 shares, the short-interest ratio is currently 3.2 days.

Baxter International Price Performance

Shares of NYSE BAX traded up $0.53 during mid-day trading on Wednesday, reaching $29.16. 3,524,125 shares of the company were exchanged, compared to its average volume of 4,156,489. Baxter International has a 52 week low of $28.33 and a 52 week high of $44.01. The company's 50 day moving average price is $32.49 and its 200 day moving average price is $35.02. The stock has a market capitalization of $14.89 billion, a PE ratio of 145.81, a PEG ratio of 12.74 and a beta of 0.57. The company has a quick ratio of 1.09, a current ratio of 1.43 and a debt-to-equity ratio of 1.31.

Baxter International (NYSE:BAX - Get Free Report) last issued its quarterly earnings results on Friday, November 8th. The medical instruments supplier reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.02. The firm had revenue of $3.85 billion during the quarter, compared to analyst estimates of $3.85 billion. Baxter International had a return on equity of 18.30% and a net margin of 0.77%. The company's revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.68 earnings per share. Sell-side analysts forecast that Baxter International will post 1.92 earnings per share for the current fiscal year.

Baxter International Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, November 29th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 2.33%. The ex-dividend date of this dividend is Friday, November 29th. Baxter International's dividend payout ratio (DPR) is presently 340.00%.

Analysts Set New Price Targets

A number of research analysts have weighed in on BAX shares. Stifel Nicolaus reduced their target price on Baxter International from $46.00 to $38.00 and set a "buy" rating for the company in a report on Monday, November 11th. StockNews.com lowered shares of Baxter International from a "buy" rating to a "hold" rating in a report on Monday, November 11th. Finally, Citigroup cut their price target on shares of Baxter International from $37.00 to $35.00 and set a "neutral" rating for the company in a report on Wednesday, December 11th. One analyst has rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $40.45.

Institutional Investors Weigh In On Baxter International

A number of hedge funds have recently made changes to their positions in BAX. Geode Capital Management LLC raised its position in Baxter International by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 12,156,660 shares of the medical instruments supplier's stock worth $460,022,000 after purchasing an additional 170,776 shares during the period. LSV Asset Management purchased a new position in shares of Baxter International in the second quarter worth about $140,296,000. Shapiro Capital Management LLC lifted its stake 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 valued at $109,885,000 after acquiring an additional 541,575 shares during the last quarter. Thompson Siegel & Walmsley LLC purchased a new stake in Baxter International during the 2nd quarter valued at about $67,263,000. Finally, Coho Partners Ltd. purchased a new stake in Baxter International during the 3rd quarter valued at about $57,229,000. 90.19% of the stock is currently owned by institutional investors.

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.