Baxter International Inc (NYSE:BAX) saw a significant increase in short interest in the month of September. As of September 30th, there was short interest totalling 6,470,000 shares, an increase of 32.6% from the August 30th total of 4,880,000 shares. Currently, 1.3% of the shares of the company are short sold. Based on an average daily volume of 2,380,000 shares, the days-to-cover ratio is currently 2.7 days.
In other Baxter International news, SVP Jacqueline Kunzler sold 5,934 shares of Baxter International stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $88.12, for a total value of $522,904.08. Following the transaction, the senior vice president now directly owns 3,089 shares in the company, valued at $272,202.68. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director James R. Gavin III sold 7,950 shares of Baxter International stock in a transaction on Monday, August 19th. The shares were sold at an average price of $87.63, for a total transaction of $696,658.50. Following the completion of the transaction, the director now owns 40,932 shares in the company, valued at $3,586,871.16. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 14,064 shares of company stock worth $1,235,359. 0.70% of the stock is currently owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in BAX. Weaver Consulting Group purchased a new stake in Baxter International during the first quarter worth about $25,000. Personal Wealth Partners purchased a new stake in Baxter International during the second quarter worth about $29,000. TRUE Private Wealth Advisors purchased a new stake in Baxter International during the second quarter worth about $29,000. Old North State Trust LLC purchased a new stake in Baxter International during the third quarter worth about $31,000. Finally, Evolution Wealth Advisors LLC purchased a new stake in Baxter International during the second quarter worth about $32,000. 83.49% of the stock is currently owned by hedge funds and other institutional investors.
BAX has been the topic of a number of recent research reports. Wells Fargo & Co set a $95.00 price objective on shares of Baxter International and gave the company a “buy” rating in a research note on Friday, July 26th. Credit Suisse Group lifted their price objective on shares of Baxter International from $84.00 to $95.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Barclays set a $82.00 target price on shares of Baxter International and gave the company a “hold” rating in a report on Friday, July 26th. KeyCorp initiated coverage on shares of Baxter International in a report on Tuesday, June 25th. They issued a “sector weight” rating on the stock. Finally, ValuEngine downgraded shares of Baxter International from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $85.67.
Shares of NYSE:BAX traded down $0.83 during midday trading on Monday, hitting $87.20. The stock had a trading volume of 1,540,391 shares, compared to its average volume of 2,667,726. The company has a market capitalization of $44.73 billion, a PE ratio of 28.59, a P/E/G ratio of 2.03 and a beta of 0.99. The stock has a 50 day moving average price of $87.00 and a two-hundred day moving average price of $81.69. The company has a current ratio of 2.78, a quick ratio of 2.10 and a debt-to-equity ratio of 0.72. Baxter International has a 1 year low of $61.05 and a 1 year high of $89.93.
Baxter International (NYSE:BAX) last issued its earnings results on Thursday, July 25th. The medical instruments supplier reported $0.89 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.08. The business had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.80 billion. Baxter International had a net margin of 14.28% and a return on equity of 21.21%. The business’s quarterly revenue was down .1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.77 earnings per share. As a group, equities analysts expect that Baxter International will post 3.37 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, August 30th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.01%. The ex-dividend date was Thursday, August 29th. Baxter International’s payout ratio is 28.85%.
Baxter International Company Profile
Baxter International Inc, through its subsidiaries, develops and provides a portfolio of healthcare products. The company operates through North and South America; Europe, Middle East and Africa; and Asia-Pacific segments. The company offers peritoneal dialysis and hemodialysis, and additional dialysis therapies and services; renal replacement therapies and other organ support therapies focused in the intensive care unit; sterile intravenous (IV) solutions, IV therapies, infusion pumps, administration sets, and drug reconstitution devices; and parenteral nutrition therapies.
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