Baxter International Inc. (NYSE:BAX) Short Interest Update

by · The Markets Daily

Baxter International Inc. (NYSE:BAX – Get Free Report) was the target of a large increase in short interest in the month of October. As of October 15th, there was short interest totalling 12,790,000 shares, an increase of 6.3% from the September 30th total of 12,030,000 shares. Based on an average trading volume of 3,940,000 shares, the short-interest ratio is currently 3.2 days.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Oregon Public Employees Retirement Fund boosted its stake in Baxter International by 0.7% in the second quarter. Oregon Public Employees Retirement Fund now owns 43,751 shares of the medical instruments supplier’s stock valued at $1,463,000 after acquiring an additional 310 shares during the period. Kingswood Wealth Advisors LLC boosted its position in Baxter International by 4.6% during the 2nd quarter. Kingswood Wealth Advisors LLC now owns 7,759 shares of the medical instruments supplier’s stock valued at $260,000 after purchasing an additional 343 shares during the period. Archer Investment Corp grew its stake in Baxter International by 20.8% during the 2nd quarter. Archer Investment Corp now owns 2,235 shares of the medical instruments supplier’s stock worth $75,000 after buying an additional 385 shares during the last quarter. M&R Capital Management Inc. lifted its stake in Baxter International by 9.5% in the third quarter. M&R Capital Management Inc. now owns 4,480 shares of the medical instruments supplier’s stock valued at $170,000 after buying an additional 390 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of Baxter International by 6.5% during the third quarter. GAMMA Investing LLC now owns 7,517 shares of the medical instruments supplier’s stock valued at $285,000 after acquiring an additional 459 shares during the period. Institutional investors own 90.19% of the company’s stock.

Baxter International Stock Up 0.5 %

BAX traded up $0.18 on Friday, reaching $35.88. The company’s stock had a trading volume of 917,402 shares, compared to its average volume of 4,032,735. The business’s 50 day moving average is $37.64 and its 200 day moving average is $36.29. Baxter International has a 1 year low of $32.28 and a 1 year high of $44.01. The stock has a market cap of $18.31 billion, a price-to-earnings ratio of 7.43, a price-to-earnings-growth ratio of 1.21 and a beta of 0.59. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.40 and a quick ratio of 0.91.

Baxter International (NYSE:BAX – Get Free Report) last posted its quarterly earnings results on Tuesday, August 6th. The medical instruments supplier reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.02. The firm had revenue of $3.81 billion for the quarter, compared to analysts’ expectations of $3.75 billion. Baxter International had a net margin of 16.51% and a return on equity of 18.06%. The firm’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.55 earnings per share. As a group, research analysts forecast that Baxter International will post 2.96 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on BAX shares. StockNews.com upgraded shares of Baxter International from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. JPMorgan Chase & Co. reduced their target price on Baxter International from $44.00 to $42.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. The Goldman Sachs Group upped their price target on Baxter International from $36.00 to $40.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. Wells Fargo & Company cut their price objective on Baxter International from $44.00 to $40.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 7th. Finally, Morgan Stanley cut Baxter International from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $39.00 to $30.00 in a report on Monday, July 15th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $41.20.

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Baxter International Company Profile

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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.

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