Josh Jennings, an analyst from TD Cowen, maintained the Hold rating on Baxter International (BAX – Research Report). The associated price target remains the same with $40.00.
Josh Jennings has given his Hold rating due to a combination of factors related to Baxter International’s recent financial performance. The company reported first-quarter revenue and earnings per share that surpassed market expectations, driven by strong sales in its Medical Products & Therapies and Healthcare Systems & Technologies segments. Despite this positive performance, the adjusted gross margin fell short of market assumptions, which may indicate potential cost pressures or inefficiencies.
Moreover, while the company has raised the lower end of its full-year earnings guidance, the overall operational sales growth outlook remains consistent with previous estimates. This suggests that while Baxter International is performing well, there may not be significant near-term catalysts to drive a more aggressive investment stance. Thus, Jennings’s Hold rating reflects a balanced view of the company’s current strengths and potential challenges.
Jennings covers the Healthcare sector, focusing on stocks such as Abbott Laboratories, Boston Scientific, and Edwards Lifesciences. According to TipRanks, Jennings has an average return of 0.2% and a 45.47% success rate on recommended stocks.