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Behind Baxter's 52-Week High

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Behind Baxter's 52-Week High PART 1 OF 6

Baxter Hit a 52-Week High on October 27

BAX’s stock performance

Baxter International (BAX) is a leading provider of renal and hospital products portfolio to various healthcare companies in the US. BAX stock has seen significant growth momentum in its stock price, driven by positive developments and strong 3Q17 results on October 25, 2017.

The diagram below shows the highlights of Baxter’s 3Q17 results. On the results announcement day, the stock gained ~0.05%. The next day, BAX stock witnessed higher gains, triggered by investor confidence.

Baxter Hit a 52-Week High on October 27

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On October 27, 2017, BAX stock reported a 52-week high of $65.7 per share. Investor sentiments were boosted by its strong 3Q17 quarterly results and its updated fiscal 2017 guidance.

Baxter expects a strong performance going forward and has a number of key products in its pipeline. Its recent acquisition of Clari is meanwhile expected to contribute to growth.

Baxter’s 52-week low stands at $43.1 and was reported on December 7, 2016. BAX stock has a 50-day moving average of $63.14 and a 200-day moving average of $60.25.

Comparison with industry and market

Baxter has gained ~39.2% over the past year, compared with S&P 500 Index’s return of ~21.4% and the iShares US Medical Devices’ (IHI) returns of ~28.2% during the same period.

YTD (year to date), BAX stock has gained ~48%. In the past six months, the stock has gained ~18%. Peers Thermo Fisher Scientific (TMO), Abbott Laboratories (ABT), and Boston Scientific (BSX) have gained ~36.4%, ~44.2%, and ~31.8%, respectively, on a YTD basis.

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