C.R. Bard, Inc. (NYSE:BCR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Tuesday, August 1st.
According to Zacks, “Over the past one year, C. R. Bard has outperformed the broader industry trends with respect to price performance. The company exhibited a solid second quarter of 2017, beating the Zacks Consensus on both lines. 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 topic of a number of other research reports. Cowen and Company upped their price objective on 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. BidaskClub upgraded C.R. Bard from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 8th. Jefferies Group LLC increased their price target on C.R. Bard from $237.00 to $317.00 and gave the company a “hold” rating in a research note on Monday, April 24th. Wells Fargo & Company cut C.R. Bard from an “outperform” rating to a “market perform” rating in a research note on Tuesday, April 25th. Finally, BMO Capital Markets restated a “buy” rating and issued a $255.00 price target on shares of C.R. Bard in a research note on Tuesday, April 11th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. C.R. Bard has a consensus rating of “Hold” and an average price target of $285.67.
C.R. Bard (NYSE:BCR) opened at 318.20 on Tuesday. The company’s 50-day moving average is $319.58 and its 200 day moving average is $286.55. The company has a market cap of $23.12 billion, a price-to-earnings ratio of 41.77 and a beta of 0.59. C.R. Bard has a 12 month low of $203.63 and a 12 month high of $323.27.
C.R. Bard (NYSE:BCR) last announced its quarterly earnings data on Thursday, July 27th. The medical instruments supplier reported $2.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.84 by $0.08. C.R. Bard had a return on equity of 48.70% and a net margin of 14.99%. The company had revenue of $979.70 million for the quarter, compared to analysts’ expectations of $976.53 million. During the same quarter in the prior year, the business posted $2.54 EPS. The business’s revenue was up 5.2% compared to the same quarter last year. Equities analysts forecast that C.R. Bard will post $11.82 earnings per share for the current fiscal year.
COPYRIGHT VIOLATION NOTICE: “C.R. Bard, Inc. (NYSE:BCR) Lowered to Hold at Zacks Investment Research” was originally posted by StockNewsTimes and is the property of of StockNewsTimes. If you are accessing this news story on another publication, it was illegally stolen and republished in violation of United States and international copyright and trademark laws. The correct version of this news story can be viewed at https://stocknewstimes.com/2017/08/19/c-r-bard-inc-nysebcr-rating-lowered-to-hold-at-zacks-investment-research-updated-updated.html.
In related news, insider John P. Groetelaars sold 23,687 shares of the firm’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $318.73, for a total value of $7,549,757.51. Following the sale, the insider now directly owns 31,445 shares of the company’s stock, valued at $10,022,464.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.80% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Toronto Dominion Bank raised its stake in C.R. Bard by 26.1% in the second quarter. Toronto Dominion Bank now owns 24,528 shares of the medical instruments supplier’s stock valued at $7,752,000 after buying an additional 5,077 shares during the period. Banco BTG Pactual S.A. purchased a new stake in shares of C.R. Bard during the second quarter worth approximately $7,271,000. WINTON GROUP Ltd purchased a new stake in shares of C.R. Bard during the second quarter worth approximately $3,947,000. Nomura Holdings Inc. raised its stake in shares of C.R. Bard by 2,381.1% in the second quarter. Nomura Holdings Inc. now owns 288,572 shares of the medical instruments supplier’s stock worth $91,272,000 after buying an additional 276,941 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its stake in shares of C.R. Bard by 6,475.0% in the second quarter. Tower Research Capital LLC TRC now owns 789 shares of the medical instruments supplier’s stock worth $249,000 after buying an additional 777 shares during the last quarter. 77.14% of the stock is currently owned by institutional investors and hedge funds.
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.
Get a free copy of the Zacks research report on C.R. Bard (BCR)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for C.R. Bard Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for C.R. Bard Inc. and related companies with MarketBeat.com's FREE daily email newsletter.
