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Discussing Baxter International’s Recent Stock Price Highs

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Baxter International’s recent trading activity

On January 4, 2018, Baxter International was trading at a 52-week high of $68.86 per share, ending the day at $68.41 per share. The company has seen significant momentum in its stock price recently. The company was trading at a 52-week low of $44.56 a year ago, on January 5, 2017. BAX stock has registered a stellar one-year return of ~54%. It is currently trading above its 50- and 200-day moving averages of $64.73 and $62.84, respectively.

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Since Baxter’s 3Q17 earnings release on October 25, 2017, its stock has risen ~6.1%. Triggered by the company’s strong 3Q17 performance, BAX stock reached a 52-week high on October 27, 2017. BAX stock’s recent rally has been supported by strong investor confidence in the stock due to the company’s recent performance, strong fundamentals, recent acquisitions, and innovative product pipeline. For brief details on the company’s 3Q17 results, read Behind Baxter’s Strong 3Q17 Sales Growth.

Moreover, the company witnessed management changes in September 2017, which are expected to be positive for the company’s growth. For more on this, read Baxter’s Management Changes: Do They Mean Higher Growth Momentum?

Industry and market comparison

Over the last 12 months, Baxter International has risen ~54%, surpassing the broader market and industry. The market, as represented by the S&P 500, has returned ~21.7% over the last year, and the US medical device industry, represented by the iShares US Medical Devices ETF (IHI), has risen ~34%.

As of January 4, 2018, peers Medtronic (MDT), Boston Scientific (BSX), and Cardinal Health (CAH) had returned 18.1%, 17.1%, and -11.5%, respectively, over the last 12 months. In the next article, we’ll discuss analysts’ recent recommendations for BAX stock.

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