C.R. Bard (BCR) Upgraded by Zacks Investment Research to “Buy”
C.R. Bard (NYSE:BCR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday. The brokerage currently has a $372.00 price objective on the medical instruments supplier’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 11.79% from the company’s current price.
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. “
BCR has been the subject of a number of other research reports. ValuEngine downgraded shares of C.R. Bard from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Barclays raised their target price on shares of C.R. Bard from $245.00 to $337.00 and gave the company an “equal weight” rating in a report on Monday, November 6th. Jefferies Group restated a “hold” rating and set a $317.00 target price on shares of C.R. Bard in a report on Thursday, September 14th. Cowen restated a “hold” rating and set a $317.00 target price on shares of C.R. Bard in a report on Friday, November 3rd. Finally, Needham & Company LLC restated a “hold” rating on shares of C.R. Bard in a report on Thursday, October 26th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $305.00.
Shares of C.R. Bard (NYSE BCR) traded up $0.48 during trading on Tuesday, reaching $332.76. 299,908 shares of the company’s stock were exchanged, compared to its average volume of 664,414. The stock has a market cap of $24,220.00, a P/E ratio of 43.84, a P/E/G ratio of 2.54 and a beta of 0.52. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.37 and a current ratio of 1.72. C.R. Bard has a 52 week low of $220.84 and a 52 week high of $337.73.
C.R. Bard (NYSE:BCR) last announced its quarterly earnings data on Wednesday, October 25th. The medical instruments supplier reported $3.02 EPS for the quarter, topping the Zacks’ consensus estimate of $2.96 by $0.06. The company had revenue of $989.80 million during the quarter, compared to the consensus estimate of $990.64 million. C.R. Bard had a net margin of 14.75% and a return on equity of 48.28%. C.R. Bard’s quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.64 EPS. equities analysts anticipate that C.R. Bard will post 11.89 EPS for the current year.
In other C.R. Bard news, 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 transaction of $1,949,924.96. Following the transaction, the vice president now directly owns 10,753 shares of the company’s stock, valued at $3,550,210.48. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP John A. Deford sold 14,107 shares of C.R. Bard stock in a transaction that occurred on Wednesday, December 20th. The shares were sold at an average price of $333.48, for a total transaction of $4,704,402.36. The disclosure for this sale can be found here. Insiders sold 224,139 shares of company stock worth $73,481,664 over the last three months. Corporate insiders own 0.80% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the company. Monroe Bank & Trust MI boosted its holdings in C.R. Bard by 65.6% in the third quarter. Monroe Bank & Trust MI now owns 447 shares of the medical instruments supplier’s stock worth $100,000 after purchasing an additional 177 shares during the period. Parallel Advisors LLC boosted its holdings in C.R. Bard by 2.8% in the second quarter. Parallel Advisors LLC now owns 513 shares of the medical instruments supplier’s stock worth $164,000 after purchasing an additional 14 shares during the period. Valeo Financial Advisors LLC acquired a new position in C.R. Bard in the third quarter worth $170,000. Patten Group Inc. boosted its holdings in C.R. Bard by 66.0% in the third quarter. Patten Group Inc. now owns 556 shares of the medical instruments supplier’s stock worth $106,000 after purchasing an additional 221 shares during the period. Finally, Captrust Financial Advisors acquired a new position in C.R. Bard in the second quarter worth $192,000. 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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