17 Cheap Stocks Under $20 to Buy Now

8. Baxter International Inc. (NYSE:BAX)

Stock Price: $19.30

Forward P/E: 8.15

Number of Hedge Fund Holders: 38

Baxter International Inc. (NYSE:BAX) is one of the top cheap stocks under $20 to buy now. On December 12, Wells Fargo analyst Larry Biegelsen reiterated a Hold rating on Baxter International Inc. (NYSE:BAX) on December 12 and set a price target of $19.00. The rating update came after Baxter International Inc. (NYSE:BAX) announced on December 11 data in collaboration with The University of Texas Medical Branch, exhibiting the positive effect of smart infusion pump integration with hospital electronic medical records on the bedside productivity of clinicians, patient safety, and programming compliance. The data represented the analysis of over one million intravenous (IV) infusions using Baxter’s Spectrum IQ large volume infusion pumps (LVP).

Management stated that the evaluation of pre- and post- smart pump EMR integration data revealed a drop in patient safety alerts, along with the time required to program an infusion and resolve a pump alert. The findings thus highlight the potential role of connected infusion therapy to support patient safety and address clinician burnout and compliance.

In another development, Baxter International Inc. (NYSE:BAX) received a rating update from Morgan Stanley analyst Patrick Wood on December 2, who cut the price target on the stock to $15 from $19 while maintaining an Underweight rating on the shares. The firm told investors that MedTech “looks well-positioned on several fronts” going into 2026, and believes the upcoming year to have “a solid industry setup”, supported by major product cycles, trough valuations, and a supportive hospital spending environment.

Baxter International Inc. (NYSE:BAX) provides a portfolio of essential healthcare products, which includes parenteral nutrition therapies, acute and chronic dialysis therapies, inhaled anesthetics, generic injectable pharmaceuticals, sterile intravenous (IV) solutions, infusion systems and devices, surgical hemostat and sealant products, surgical equipment, smart bed systems, patient monitoring and diagnostic technologies, and respiratory health devices. The company’s operations are divided into the following segments: Americas, Europe, Middle East and Africa (EMEA), Asia-Pacific (APAC), and Hillrom.