Baxter International Inc. (NYSE:BAX) Sees Large Decrease in Short Interest

Baxter International Inc. (NYSE:BAX) was the target of a large decline in short interest in September. As of September 30th, there was short interest totalling 12,030,000 shares, a decline of 8.9% from the September 15th total of 13,200,000 shares. Based on an average trading volume of 4,300,000 shares, the days-to-cover ratio is currently 2.8 days.

Baxter International Trading Down 0.3 %

Shares of NYSE:BAX traded down $0.11 during trading hours on Thursday, hitting $36.65. 3,868,688 shares of the company’s stock traded hands, compared to its average volume of 4,139,624. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.40 and a quick ratio of 0.91. The business has a fifty day moving average price of $37.63 and a 200-day moving average price of $36.72. Baxter International has a 1 year low of $31.66 and a 1 year high of $44.01. The firm has a market capitalization of $18.68 billion, a P/E ratio of 6.96, a price-to-earnings-growth ratio of 1.28 and a beta of 0.59.

Baxter International (NYSE:BAX) last issued its earnings results on Tuesday, August 6th. The medical instruments supplier reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.02. Baxter International had a net margin of 16.51% and a return on equity of 18.06%. The firm had revenue of $3.81 billion during the quarter, compared to analyst estimates of $3.75 billion. During the same period in the previous year, the firm earned $0.55 earnings per share. The business’s revenue was up 2.8% on a year-over-year basis. Equities analysts expect that Baxter International will post 2.96 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of BAX. Trust Co. of Vermont raised its holdings in shares of Baxter International by 31.0% in the 4th quarter. Trust Co. of Vermont now owns 1,870 shares of the medical instruments supplier’s stock valued at $72,000 after purchasing an additional 443 shares in the last quarter. Canandaigua National Bank & Trust Co. bought a new stake in shares of Baxter International in the 1st quarter valued at about $202,000. GAMMA Investing LLC grew its position in shares of Baxter International by 156.8% in the 1st quarter. GAMMA Investing LLC now owns 13,948 shares of the medical instruments supplier’s stock worth $596,000 after buying an additional 8,517 shares during the last quarter. Massmutual Trust Co. FSB ADV raised its stake in shares of Baxter International by 15.1% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 2,069 shares of the medical instruments supplier’s stock worth $88,000 after acquiring an additional 272 shares in the last quarter. Finally, ARGA Investment Management LP purchased a new stake in shares of Baxter International during the 1st quarter valued at $10,951,000. Institutional investors own 90.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on BAX. Wells Fargo & Company dropped their price target on Baxter International from $44.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 7th. Evercore ISI dropped their price target on Baxter International from $46.00 to $45.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 2nd. StockNews.com cut Baxter International from a “buy” rating to a “hold” rating in a research report on Tuesday, October 1st. The Goldman Sachs Group boosted their price target on Baxter International from $36.00 to $40.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. Finally, Citigroup upped their price objective on Baxter International from $38.00 to $40.00 and gave the company a “neutral” rating in a research report on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $42.00.

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.