New Mexico Educational Retirement Board Sells 600 Shares of Baxter International Inc. (NYSE:BAX)

New Mexico Educational Retirement Board reduced its position in Baxter International Inc. (NYSE:BAX) by 2.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 24,361 shares of the medical instruments supplier’s stock after selling 600 shares during the period. New Mexico Educational Retirement Board’s holdings in Baxter International were worth $710,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in BAX. Van ECK Associates Corp lifted its holdings in Baxter International by 10.2% during the fourth quarter. Van ECK Associates Corp now owns 68,198 shares of the medical instruments supplier’s stock worth $1,989,000 after buying an additional 6,320 shares during the period. Stoneridge Investment Partners LLC purchased a new stake in shares of Baxter International during the 4th quarter worth $2,328,000. Sumitomo Mitsui Trust Group Inc. boosted its position in Baxter International by 1.9% during 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 in the last quarter. ARGA Investment Management LP grew its stake in Baxter International by 148.8% in the fourth 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 during the last quarter. Finally, Forsta AP Fonden raised its holdings in Baxter International by 140.5% in the fourth quarter. Forsta AP Fonden now owns 273,900 shares of the medical instruments supplier’s stock worth $7,987,000 after purchasing an additional 160,000 shares in the last quarter. 90.19% of the stock is owned by hedge funds and other institutional investors.

Baxter International Stock Performance

Shares of BAX stock opened at $31.22 on Wednesday. The business has a fifty day moving average of $30.53 and a 200 day moving average of $34.20. 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 has a market capitalization of $15.94 billion, a price-to-earnings ratio of 156.08, a price-to-earnings-growth ratio of 9.83 and a beta of 0.61. Baxter International Inc. has a 1 year low of $28.33 and a 1 year high of $44.01.

Baxter International Announces Dividend

The firm 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. The ex-dividend date is Friday, February 28th. This represents a $0.68 annualized dividend and a yield of 2.18%. Baxter International’s dividend payout ratio (DPR) is presently 340.00%.

Wall Street Analysts Forecast Growth

BAX has been the subject of several recent analyst reports. Citigroup reduced their price objective on shares of Baxter International from $37.00 to $35.00 and set a “neutral” rating for the company in a research note on Wednesday, December 11th. Stifel Nicolaus reduced their price target on Baxter International from $46.00 to $38.00 and set a “buy” rating on the stock in a research report on Monday, November 11th. Finally, StockNews.com downgraded Baxter International from a “buy” rating to a “hold” rating in a research note on Monday, November 11th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $39.44.

Baxter International Company Profile

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.