Hartford Investment Management Co. Reduces Stock Holdings in Baxter International Inc. (NYSE:BAX)

Hartford Investment Management Co. reduced its position in Baxter International Inc. (NYSE:BAX) by 1.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 31,272 shares of the medical instruments supplier’s stock after selling 605 shares during the quarter. Hartford Investment Management Co.’s holdings in Baxter International were worth $912,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in BAX. Geode Capital Management LLC increased its holdings in Baxter International by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 12,156,660 shares of the medical instruments supplier’s stock worth $460,022,000 after acquiring an additional 170,776 shares during the last quarter. Coho Partners Ltd. purchased a new position in shares of Baxter International in the third quarter worth about $57,229,000. Sumitomo Mitsui Trust Group Inc. raised its position in shares of 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 purchasing an additional 21,592 shares during the period. National Pension Service lifted its stake in shares of Baxter International by 22.1% during the 3rd quarter. National Pension Service now owns 1,154,616 shares of the medical instruments supplier’s stock valued at $43,841,000 after buying an additional 208,726 shares in the last quarter. Finally, ARGA Investment Management LP boosted its holdings in Baxter International by 148.8% in the 4th quarter. ARGA Investment Management LP now owns 870,601 shares of the medical instruments supplier’s stock worth $25,387,000 after buying an additional 520,633 shares during the period. 90.19% of the stock is currently owned by institutional investors.

Baxter International Trading Up 0.7 %

Shares of BAX opened at $30.83 on Friday. Baxter International Inc. has a 1-year low of $28.33 and a 1-year high of $44.01. The company has a market capitalization of $15.74 billion, a P/E ratio of 154.16, a P/E/G ratio of 9.83 and a beta of 0.61. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.43 and a quick ratio of 1.09. The firm’s 50 day simple moving average is $30.57 and its 200 day simple moving average is $34.29.

Baxter International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, February 28th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date is Friday, February 28th. Baxter International’s dividend payout ratio is currently 340.02%.

Analyst Ratings Changes

BAX has been the topic of a number of analyst reports. StockNews.com cut shares of Baxter International from a “buy” rating to a “hold” rating in a report on Monday, November 11th. Stifel Nicolaus cut their target price on Baxter International from $46.00 to $38.00 and set a “buy” rating for the company in a research note on Monday, November 11th. Finally, Citigroup decreased their price target on Baxter International from $37.00 to $35.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $39.44.

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.