Baxter International Inc. (BAX): A Bull Case Theory

We came across a bullish thesis on Baxter International Inc. on DeepValue Capital’s Substack. In this article, we will summarize the bulls’ thesis on BAX. Baxter International Inc.'s share was trading at $22.44 as of August 4^th. BAX’s trailing and forward P/E were 84.46 and 8.71, respectively according to Yahoo Finance.

Baxter International (BAX), a nearly century-old leader in lifesaving medical technologies, has seen its shares collapse over 75% from peak levels, now trading at less than 8x normalized free cash flow versus a historical median of 24x. The company operates...