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

Baxter International Inc. (NYSE:BAX - Get Free Report) was the target of a large drop in short interest in May. As of May 15th, there was short interest totalling 15,110,000 shares, a drop of 13.4% from the April 30th total of 17,440,000 shares. Based on an average daily trading volume, of 4,560,000 shares, the short-interest ratio is presently 3.3 days. Currently, 3.0% of the company's stock are sold short.

Institutional Trading of Baxter International

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Sumitomo Mitsui Trust Group Inc. lifted its holdings in Baxter International by 1.9% in the fourth 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 Baxter International in the 4th quarter worth about $907,000. Bank of New York Mellon Corp grew its position in Baxter International by 22.3% in the 4th quarter. Bank of New York Mellon Corp now owns 15,359,040 shares of the medical instruments supplier's stock worth $447,870,000 after purchasing an additional 2,803,920 shares in the last quarter. Dodge & Cox boosted its stake in Baxter International by 13.0% in the fourth quarter. Dodge & Cox now owns 50,377,294 shares of the medical instruments supplier's stock valued at $1,469,002,000 after acquiring an additional 5,779,100 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in shares of Baxter International by 40.4% during the 4th quarter. Russell Investments Group Ltd. now owns 1,745,709 shares of the medical instruments supplier's stock valued at $50,904,000 after buying an additional 502,370 shares in the last quarter. Institutional investors own 90.19% of the company's stock.

Baxter International Price Performance

Baxter International stock traded up $0.12 during trading hours on Friday, hitting $30.27. 2,349,654 shares of the stock were exchanged, compared to its average volume of 4,432,496. The business's 50-day moving average is $30.10 and its two-hundred day moving average is $31.40. Baxter International has a 12 month low of $26.25 and a 12 month high of $40.49. The company has a debt-to-equity ratio of 1.31, a quick ratio of 1.09 and a current ratio of 1.43. The stock has a market capitalization of $15.53 billion, a P/E ratio of -23.65, a P/E/G ratio of 0.93 and a beta of 0.61.

Baxter International (NYSE:BAX - Get Free Report) last released its earnings results on Thursday, May 1st. The medical instruments supplier reported $0.62 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.48 by $0.14. Baxter International had a positive return on equity of 16.67% and a negative net margin of 5.05%. The firm had revenue of $2.63 billion during the quarter, compared to analysts' expectations of $2.59 billion. During the same quarter in the prior year, the company earned $0.65 EPS. The company's revenue was up 5.4% on a year-over-year basis. Equities research analysts expect that Baxter International will post 2.48 EPS for the current fiscal year.

Baxter International Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, May 30th will be paid a $0.17 dividend. The ex-dividend date is Friday, May 30th. This represents a $0.68 dividend on an annualized basis and a yield of 2.25%. Baxter International's dividend payout ratio (DPR) is -61.82%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on BAX shares. The Goldman Sachs Group began coverage on shares of Baxter International in a report on Wednesday, February 26th. They issued a "buy" rating and a $42.00 price target for the company. Barclays increased their target price on shares of Baxter International from $39.00 to $41.00 and gave the stock an "overweight" rating in a research note on Monday, March 10th. Argus raised shares of Baxter International from a "hold" rating to a "buy" rating in a research report on Monday, February 24th. Morgan Stanley reduced their price target on shares of Baxter International from $30.00 to $28.00 and set an "underweight" rating for the company in a research report on Monday, May 5th. Finally, Wells Fargo & Company reduced their target price on shares of Baxter International from $36.00 to $33.00 and set an "equal weight" rating for the company in a report on Friday, May 2nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $37.25.

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.