Zacks Investment Research upgraded shares of C R Bard (NYSE:BCR) from a hold rating to a buy rating in a report released on Tuesday, December 26th. Zacks Investment Research currently has $372.00 price target on the medical instruments supplier’s stock.
According to Zacks, “In the last year, C. R. Bard has outperformed the broader industry trends with respect to price performance. Looking forward C. R. Bard is expected to benefit from the impending merger with Becton, Dickinson and Company, especially in the areas of medication management and infection prevention. The $24 billion transaction is expected to close in the fourth quarter of 2017. We believe the development will provide benefits to the combined entity and bolster its foothold in the global medical devices market. The growing adoption of Lutonix DCB is also expected to drive top-line growth in the coming quarters.However, a challenging Med-tech environment is a major concern. The company witnesses significant pricing pressure as well. Additionally, cutthroat competition in the hernia fixation and peripheral stent businesses are likely to dent growth. “
Several other equities research analysts also recently weighed in on BCR. Barclays raised their price target on C R Bard from $245.00 to $337.00 and gave the stock an equal weight rating in a report on Monday, November 6th. ValuEngine downgraded C R Bard from a buy rating to a hold rating in a report on Friday, December 1st. Jefferies Group reissued a hold rating and issued a $317.00 price target on shares of C R Bard in a report on Thursday, September 14th. Needham & Company LLC restated a hold rating on shares of C R Bard in a research note on Thursday, October 26th. Finally, Cowen restated a hold rating and issued a $317.00 price objective on shares of C R Bard in a research note on Friday, November 3rd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company’s stock. C R Bard currently has a consensus rating of Hold and an average price target of $311.43.
Shares of C R Bard (NYSE:BCR) traded down $1.95 during mid-day trading on Tuesday, reaching $331.24. The company had a trading volume of 4,714,800 shares, compared to its average volume of 679,456. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.37 and a current ratio of 1.72. The company has a market capitalization of $24,140.00, a P/E ratio of 43.64, a P/E/G ratio of 2.53 and a beta of 0.52. C R Bard has a 12 month low of $222.42 and a 12 month high of $337.73.
C R Bard (NYSE:BCR) last issued its quarterly earnings results on Wednesday, October 25th. The medical instruments supplier reported $3.02 earnings per share for the quarter, topping the consensus estimate of $2.96 by $0.06. The business had revenue of $989.80 million during the quarter, compared to the consensus estimate of $990.64 million. C R Bard had a return on equity of 19.39% and a net margin of 9.51%. The company’s quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter last year, the company earned $2.64 earnings per share. sell-side analysts predict that C R Bard will post 11.89 EPS for the current fiscal year.
In related news, Director David M. Barrett sold 3,344 shares of C R Bard stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $327.31, for a total transaction of $1,094,524.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Betty D. Larson sold 5,906 shares of C R Bard stock in a transaction that occurred on Friday, October 20th. The shares were sold at an average price of $330.16, for a total value of $1,949,924.96. Following the transaction, the vice president now owns 10,753 shares of the company’s stock, valued at $3,550,210.48. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 185,499 shares of company stock valued at $61,100,088. Company insiders own 0.80% of the company’s stock.
A number of hedge funds have recently made changes to their positions in BCR. Vivaldi Asset Management LLC acquired a new stake in C R Bard in the second quarter valued at approximately $57,965,000. Artemis Investment Management LLP grew its holdings in C R Bard by 33.4% in the second quarter. Artemis Investment Management LLP now owns 41,313 shares of the medical instruments supplier’s stock valued at $13,068,000 after purchasing an additional 10,354 shares during the period. Havens Advisors LLC grew its holdings in C R Bard by 105.3% in the third quarter. Havens Advisors LLC now owns 25,000 shares of the medical instruments supplier’s stock valued at $8,013,000 after purchasing an additional 12,823 shares during the period. JPMorgan Chase & Co. grew its holdings in C R Bard by 16.3% in the third quarter. JPMorgan Chase & Co. now owns 542,368 shares of the medical instruments supplier’s stock valued at $173,222,000 after purchasing an additional 76,185 shares during the period. Finally, Neuberger Berman Group LLC grew its holdings in C R Bard by 68.6% in the second quarter. Neuberger Berman Group LLC now owns 180,081 shares of the medical instruments supplier’s stock valued at $56,925,000 after purchasing an additional 73,269 shares during the period. Institutional investors own 79.11% of the company’s stock.
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About C R Bard
C. R. Bard, Inc (Bard) is engaged in designing, manufacturing, packaging, distribution and sale of medical, surgical, diagnostic and patient care devices. The Company operates through the manufacture and sale of medical devices segment. It sells a range of products to hospitals, individual healthcare professionals, extended care facilities and alternate site facilities on a global basis.
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