Baxter International Inc. (BAX) Sees Large Drop in Short Interest
Baxter International Inc. (NYSE:BAX) was the recipient of a significant decline in short interest during the month of September. As of September 15th, there was short interest totalling 15,174,057 shares, a decline of 14.0% from the August 31st total of 17,643,435 shares. Currently, 2.8% of the shares of the company are short sold. Based on an average daily volume of 4,716,409 shares, the short-interest ratio is currently 3.2 days.
Several equities analysts recently commented on BAX shares. JPMorgan Chase & Co. restated a “neutral” rating and issued a $45.00 price target on shares of Baxter International in a research note on Monday, June 6th. Argus restated a “hold” rating on shares of Baxter International in a research note on Monday, August 15th. Royal Bank Of Canada upped their price target on shares of Baxter International from $47.00 to $50.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 27th. Barclays PLC started coverage on shares of Baxter International in a research note on Thursday, September 15th. They issued an “overweight” rating and a $52.00 price target on the stock. Finally, Piper Jaffray Cos. restated an “overweight” rating and issued a $60.00 price target on shares of Baxter International in a research note on Monday, June 13th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $48.25.
Large investors have recently made changes to their positions in the company. Trust Department MB Financial Bank N A raised its stake in shares of Baxter International by 4.1% in the second quarter. Trust Department MB Financial Bank N A now owns 1,746 shares of the company’s stock valued at $122,000 after buying an additional 68 shares during the period. Balentine LLC raised its stake in shares of Baxter International by 12.6% in the second quarter. Balentine LLC now owns 3,176 shares of the company’s stock valued at $144,000 after buying an additional 356 shares during the period. Checchi Capital Advisers LLC raised its stake in shares of Baxter International by 1.9% in the second quarter. Checchi Capital Advisers LLC now owns 4,333 shares of the company’s stock valued at $196,000 after buying an additional 81 shares during the period. Pioneer Trust Bank N A OR purchased a new stake in shares of Baxter International during the second quarter valued at $203,000. Finally, Cobblestone Capital Advisors LLC NY purchased a new stake in shares of Baxter International during the second quarter valued at $203,000. 84.79% of the stock is owned by institutional investors.
Baxter International (NYSE:BAX) opened at 47.60 on Monday. The stock has a 50 day moving average of $47.12 and a 200-day moving average of $45.08. The company has a market cap of $25.89 billion, a PE ratio of 5.46 and a beta of 0.64. Baxter International has a 12-month low of $32.18 and a 12-month high of $49.49.
Baxter International (NYSE:BAX) last announced its quarterly earnings data on Tuesday, July 26th. The company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.06. Baxter International had a return on equity of 10.70% and a net margin of 47.74%. The company earned $2.60 billion during the quarter, compared to analyst estimates of $2.51 billion. During the same quarter last year, the firm posted $1.00 EPS. The firm’s revenue for the quarter was up 4.4% on a year-over-year basis. On average, equities research analysts anticipate that Baxter International will post $1.73 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Friday, September 2nd will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.09%. The ex-dividend date of this dividend is Wednesday, August 31st. Baxter International’s dividend payout ratio (DPR) is currently 5.99%.
Baxter International Company Profile
Baxter International Inc, through its subsidiaries, provides a portfolio of essential renal and hospital products, including home, acute and in-center dialysis; sterile intravenous (IV) solutions; infusion systems and devices; parenteral nutrition; biosurgery products and anesthetics, and pharmacy automation, software and services.
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