Hartford Investment Management Co. Sells 605 Shares of Baxter International Inc. (NYSE:BAX)

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

Other institutional investors have also added to or reduced their stakes in the company. Coho Partners Ltd. bought a new stake in shares of Baxter International during the third quarter valued at approximately $57,229,000. ARGA Investment Management LP increased its stake in Baxter International by 148.8% during the 4th quarter. ARGA Investment Management LP now owns 870,601 shares of the medical instruments supplier’s stock valued at $25,387,000 after purchasing an additional 520,633 shares in the last quarter. National Pension Service increased its stake in 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 purchasing an additional 208,726 shares in the last quarter. Geode Capital Management LLC raised its holdings in Baxter International by 1.4% during the third quarter. Geode Capital Management LLC now owns 12,156,660 shares of the medical instruments supplier’s stock worth $460,022,000 after buying an additional 170,776 shares during the last quarter. Finally, Forsta AP Fonden grew its holdings in shares of Baxter International by 140.5% during the fourth quarter. Forsta AP Fonden now owns 273,900 shares of the medical instruments supplier’s stock valued at $7,987,000 after buying an additional 160,000 shares during the last quarter. 90.19% of the stock is owned by institutional investors and hedge funds.

Baxter International Stock Performance

Shares of Baxter International stock opened at $30.83 on Friday. The business’s fifty day simple moving average is $30.57 and its 200 day simple moving average is $34.29. The company has a current ratio of 1.43, a quick ratio of 1.09 and a debt-to-equity ratio of 1.31. Baxter International Inc. has a 12 month low of $28.33 and a 12 month high of $44.01. The firm has a market capitalization of $15.74 billion, a P/E ratio of 154.16, a price-to-earnings-growth ratio of 9.83 and a beta of 0.61.

Baxter International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, February 28th will be issued a $0.17 dividend. 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 (DPR) is currently 340.02%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on BAX. Stifel Nicolaus lowered their target price on shares of Baxter International from $46.00 to $38.00 and set a “buy” rating on the stock in a report on Monday, November 11th. StockNews.com downgraded Baxter International from a “buy” rating to a “hold” rating in a research note on Monday, November 11th. Finally, Citigroup cut their target price 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 analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target 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.