On July 30, Baxter surged 17.69% in regular trading, trading at $28.835/share, with turnover of $111 million. The rally was driven by the company's Q2 earnings release before the market open, which significantly exceeded Wall Street expectations.

Baxter reported Q2 adjusted EPS of $0.56, far surpassing the analyst consensus estimate of $0.37, representing a beat of over 50%. Revenue came in at $2.96 billion versus the expected $2.80 billion, reflecting 5.3% year-over-year growth. The company simultaneously raised its full-year adjusted EPS guidance to a range of $1.95 to $2.15, up from the prior range of $1.85 to $2.05, compared with the FactSet consensus estimate of $1.92.

Notably, multiple investment banks had already raised their price targets on Baxter ahead of the earnings release, with Stifel lifting its target to $24, Evercore ISI to $24, and Goldman Sachs to $21, signaling growing institutional confidence in the company's operational turnaround trajectory.

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