Zacks Investment Research upgraded shares of C.R. Bard, Inc. (NYSE:BCR) from a hold rating to a buy rating in a report released on Thursday, May 11th. The firm currently has $342.00 target price on the medical instruments supplier’s stock.
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.”
A number of other equities research analysts have also issued reports on BCR. BMO Capital Markets reissued a buy rating on shares of C.R. Bard in a research report on Friday, January 27th. JMP Securities boosted their price target on C.R. Bard from $240.00 to $255.00 in a research report on Friday, January 27th. Needham & Company LLC reaffirmed a hold rating on shares of C.R. Bard in a research report on Friday, January 27th. Barclays PLC reaffirmed a hold rating and set a $245.00 price target on shares of C.R. Bard in a research report on Sunday, January 29th. Finally, Jefferies Group LLC reaffirmed a hold rating and set a $237.00 price target on shares of C.R. Bard in a research report on Monday, March 27th. Eleven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of Hold and an average price target of $265.62.
C.R. Bard (BCR) opened at 313.56 on Thursday. C.R. Bard has a 12-month low of $203.63 and a 12-month high of $315.29. The company has a 50-day moving average price of $309.48 and a 200-day moving average price of $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 announced its earnings results on Sunday, April 23rd. The medical instruments supplier reported $2.87 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.65 by $0.22. C.R. Bard had a return on equity of 48.72% and a net margin of 15.70%. The business had revenue of $938.80 million for the quarter, compared to analyst estimates of $916.15 million. During the same quarter last year, the firm earned $2.34 EPS. C.R. Bard’s revenue for the quarter was up 7.5% compared to the same quarter last year. On average, analysts predict that C.R. Bard will post $11.78 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, August 4th. Investors of record on Monday, July 24th will be paid a $0.26 dividend. The ex-dividend date is Thursday, July 20th. This represents a $1.04 annualized dividend and a yield of 0.33%. C.R. Bard’s dividend payout ratio (DPR) is presently 13.21%.
In related news, VP Frank Lupisella, Jr. sold 3,622 shares of the business’s stock in a transaction on Monday, April 24th. The stock was sold at an average price of $304.00, for a total value of $1,101,088.00. Following the completion of the sale, the vice president now directly owns 10,139 shares in the company, valued at approximately $3,082,256. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.80% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Perigon Wealth Management LLC increased its stake in C.R. Bard by 7.8% in the first quarter. Perigon Wealth Management LLC now owns 2,765 shares of the medical instruments supplier’s stock worth $687,000 after buying an additional 199 shares during the last quarter. Columbia Partners L L C Investment Management bought a new stake in C.R. Bard during the first quarter worth $415,000. Skandinaviska Enskilda Banken AB publ bought a new stake in C.R. Bard during the first quarter worth $39,971,000. HM Payson & Co. increased its stake in C.R. Bard by 9.4% in the first quarter. HM Payson & Co. now owns 1,106 shares of the medical instruments supplier’s stock worth $275,000 after buying an additional 95 shares during the last quarter. Finally, Public Employees Retirement System of Ohio increased its stake in C.R. Bard by 1.3% in the first quarter. Public Employees Retirement System of Ohio now owns 76,648 shares of the medical instruments supplier’s stock worth $19,050,000 after buying an additional 1,000 shares during the last quarter. Hedge funds and other institutional investors own 88.32% of the company’s stock.
C.R. Bard Company Profile
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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