Can BAX Stock Maintain Momentum after Recent Highs?



BAX’s stock performance

Baxter International (BAX) offers renal and hospital products and solutions to healthcare providers in the US. The company is one of the leading medical technology companies in the world.

BAX stock plummeted in late 2016 but has witnessed a rise in recent months, trading at a 52-week high on October 27, 2017. (For more details, check out Market Realist’s “Baxter Hit a 52-Week High on October 27.”)

On November 27, 2017, BAX stock closed at $64.7 per share. The company is trading near its 52-week high of $65.7 reported on October 27, 2017. This was triggered by positive investor sentiment following its strong 3Q17 earnings results, which were released on October 25, 2017.

Baxter International’s 52-week low is $43.13, which was registered on December 7, 2016.

BAX stock is now trading above its 50-day moving average of $64 and a 200-day moving average of $61.6. After its strong 3Q17 results on October 25, 2017, BAX stock has gained ~0.61%. On the day of the results release, the stock rose ~0.05%.

Comparisons with industry and market performances

Baxter International has returned a stellar ~46% YTD (year-to-date), compared with the 16.2% YTD returns of the S&P 500 Index and the ~33% returns of the iShares US Medical Devices (IHI) YTD. Baxter has thus been performing better than the average industry performance and the broader market.

Over the past 12 months, BAX stock has gained ~39%. The industry’s 12-month returns are at ~31.6%.

As of November 27, 2017, peers Boston Scientific (BSX), Thermo Fisher Scientific (TMO), and Medtronic (MDT) have witnessed stock gains of ~35%, ~34.5%, and ~7.8%, respectively, over the past year.

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