C.R. Bard, Inc. (NYSE:BCR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Friday, May 12th.
According to Zacks, “C. R. Bard reported stellar first-quarter 2017 results, crushing the Zacks Consensus Estimate on both counts, courtesy of growth from each of its four businesses both domestically and internationally. The company has gained prominence in the market with an expanding product portfolio and continuing regulatory approvals. The growing adoption of Lutonix DCB is expected to drive top-line growth in the coming quarters. Over the past one year, C. R. Bard has outperformed the broader industry trends with respect to price performances. The company is slated to be acquired by Becton, Dickinson and Company for $24 billion. The acquisition is expected to close by fall 2017. We believe the latest development will provide benefits to the combined entity and bolster its foothold in the global medical devices market, which is expected to reach a worth of $543.9 billion by 2020.”
Other equities research analysts have also recently issued research reports about the stock. BMO Capital Markets cut shares of C.R. Bard from an “outperform” rating to a “market perform” rating and set a $245.00 price target for the company. in a research report on Tuesday, April 25th. Morgan Stanley lowered shares of C.R. Bard from an “overweight” rating to an “equal weight” rating in a research note on Monday, April 24th. Cowen and Company boosted their price objective on shares of C.R. Bard from $240.00 to $317.00 and gave the stock a “market perform” rating in a research note on Monday, April 24th. Jefferies Group LLC boosted their price objective on shares of C.R. Bard from $237.00 to $317.00 and gave the stock a “hold” rating in a research note on Monday, April 24th. Finally, Raymond James Financial, Inc. restated a “market perform” rating and set a $265.00 price target on shares of C.R. Bard in a research note on Tuesday, April 25th. Eleven research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. C.R. Bard presently has a consensus rating of “Hold” and an average target price of $265.62.
Shares of C.R. Bard (NYSE:BCR) traded down 0.12% during midday trading on Friday, hitting $313.56. The company’s stock had a trading volume of 728,015 shares. C.R. Bard has a 52-week low of $203.63 and a 52-week high of $315.29. The stock’s 50 day moving average is $309.48 and its 200-day moving average is $257.26. The firm has a market cap of $22.71 billion, a P/E ratio of 39.91 and a beta of 0.64.
C.R. Bard (NYSE:BCR) last released its quarterly earnings data on Sunday, April 23rd. The medical instruments supplier reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.65 by $0.22. The company had revenue of $938.80 million during the quarter, compared to analysts’ expectations of $916.15 million. C.R. Bard had a net margin of 15.70% and a return on equity of 48.72%. The firm’s quarterly revenue was up 7.5% on a year-over-year basis. During the same period in the previous year, the company earned $2.34 EPS. Equities analysts predict that C.R. Bard will post $11.78 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 4th. Shareholders of record on Monday, July 24th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.33%. The ex-dividend date is Thursday, July 20th. C.R. Bard’s payout ratio is 13.21%.
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In other C.R. Bard news, VP Frank Lupisella, Jr. sold 3,622 shares of the stock in a transaction on Monday, April 24th. The shares were sold at an average price of $304.00, for a total transaction of $1,101,088.00. Following the transaction, the vice president now directly owns 10,139 shares of the company’s stock, valued at $3,082,256. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.80% of the company’s stock.
Several large investors have recently modified their holdings of BCR. Cribstone Capital Management LLC acquired a new stake in shares of C.R. Bard during the first quarter worth approximately $130,000. SRS Capital Advisors Inc. bought a new stake in shares of C.R. Bard during the fourth quarter worth $133,000. Contravisory Investment Management Inc. boosted its stake in shares of C.R. Bard by 349.2% in the first quarter. Contravisory Investment Management Inc. now owns 548 shares of the medical instruments supplier’s stock worth $136,000 after buying an additional 426 shares in the last quarter. Whittier Trust Co. raised its position in C.R. Bard by 7.7% in the first quarter. Whittier Trust Co. now owns 591 shares of the medical instruments supplier’s stock valued at $147,000 after buying an additional 42 shares during the last quarter. Finally, ClariVest Asset Management LLC acquired a new position in C.R. Bard during the first quarter valued at approximately $148,000. Institutional investors and hedge funds own 88.32% of the company’s stock.
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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