Yahoo Finance Why This 1 Momentum Stock Could Be a Great Addition to Your Portfolio
Taking full advantage of the stock market and investing with confidence are common goals for new and old investors alike.
Achieving those goals is made easier with the Zacks Style Scores, a unique set of guidelines that rates stocks based on popular investing methodologies, namely value, growth, and momentum. The Style Scores can help you narrow down which stocks are better for your portfolio and which ones can beat the market over the long-term.
Is This 1 Momentum Stock a Screaming Buy Right Now?
For momentum investors, upward or downward trends in a stock's price or earnings outlook take precedent, so they'll want to zero in on the Momentum Style Score. This Score can pinpoint good times to build a position in a stock, using factors like one-week price change and the monthly percentage change in earnings estimates.
Baxter International (BAX)
Headquartered in Deerfield, IL, Baxter International Inc. is a global medical technology company. The company is engaged in the development, manufacture and sale of a broad range of products, digital health solutions and therapies used by hospitals and other care-giving organizations including at-home physician supervision. Currently, the company has presence in more than 100 countries.
BAX boasts a Momentum Style Score of A and VGM Score of A, and holds a Zacks Rank #3 (Hold) rating. Shares of Baxter International has seen some interesting price action recently; the stock is up 2.2% over the past one week and up 6.8% over the past four weeks. And in the last one-year period, BAX has lost 14.9%. As for the stock's trading volume, 5,434,908.50 shares on average were traded over the last 20 days.
A company's earnings performance is important for momentum investors as well. For fiscal 2024, four analysts revised their earnings estimate higher in the last 60 days for BAX, while the Zacks Consensus Estimate has increased $0.02 to $2.93 per share. BAX also boasts an average earnings surprise of 3.7%.
Investors should take the time to consider BAX for their portfolios due to its solid Zacks Ranks, notable earnings metrics, and impressive Momentum and VGM Style Scores.
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Baxter International Inc. (BAX) : Free Stock Analysis Report
