Meaning of the Name Baadsgaard
In Danish, "gaard" most often means farm, courtyard, or estate, and "baad" means boat. Since aa = å, another spelling of the name is Bådsgård.
Baadsgaard as a Place
To date one American research group has identified at least two places in Denmark named Bådsgård in the 1700s. One is on Hanstholm (formerly an island, now connected to the mainland) in Hansted sogn, Hillerslev herred, Thisted amt. Political boundaries changed, and Hanstholm became part of Viborg amt. The other Baadsgaard is in Højslev sogn, Fjends herred, Viborg amt. More Baadsgaards may be found in Denmark and Scandinavia as research continues.
There is a cove called "Bådsgård vig" that can be found by searching for Bådsgård on google maps.
"The northern part of Denmark is rising because of plate tectonics, and has lifted the island of Hanstholm out of the water, so that it is no longer an island, but an elevated area. You can still see two old farms: Bådsgård, which means boat farm, is located on the previous island Hanstholm; Færgegård is located in Sårup towards Hansted. Today you can simply drive between Sårup and Hansted." 
"Lundø is a peninsula surrounded by Bådsgård creek to the south, Skive Fjord on the west, and Lovns Bredning to the northeast, in the southern part of the fjord."  (Translated using Google Translate)
Baadsgaard as a Surname
It was commonplace for a Dane to use a place name following his/her patronymic name, and a person living at Baadsgaard might use that name as part of his/her personal name. As traditional naming practices evolved, "Baadsgaard" became attached to some families as a permanent family surname. The surname is still in use, though it is rare in the USA.
Baadsgaards in the USA
Of the Baadsgaard descendants living in the USA, a rather light investigation suggests two ancestral lines: Peder Baadsgaard (b.1677) and Søren Andersen Pugdal (b.1659). Soren had a son named Andres (Anders) Sørensen Baadsgaard (b. 1717). Apparently, the name Baadsgaard was used as a place name by Anders.
It has not yet been determine if these two lines are related somehow. Descendants of Peder can be found in Utah, Washington (the state), Nevada, and Texas. Descendants of Soren can be found in Indiana, Illinois and Texas.