C.R. Bard Sees Large Volume Increase After Dividend Announcement (BCR)
C.R. Bard (NYSE:BCR) saw strong trading volume on Wednesday following a dividend announcement from the company, American Banking and Market News reports. 1,587,385 shares traded hands during trading, an increase of 81% from the previous session’s volume of 878,902 shares.The stock last traded at $137.55 and had previously closed at $141.05.
The newly announced dividend is scheduled for Friday, August 1st. Shareholders of record on Monday, July 21st will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 0.64%.
Several analysts have recently commented on the stock. Analysts at Morgan Stanley reiterated an “underweight” rating on shares of C.R. Bard in a research note on Tuesday, June 3rd. They now have a $127.00 price target on the stock, up previously from $120.00. Separately, analysts at Zacks reiterated a “neutral” rating on shares of C.R. Bard in a research note on Thursday, April 24th. They now have a $143.00 price target on the stock. Finally, analysts at Bank of America downgraded shares of C.R. Bard from a “buy” rating to a “neutral” rating in a research note on Monday, April 7th. They now have a $150.00 price target on the stock. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seven have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $139.13.
The stock has a 50-day moving average of $143.6 and a 200-day moving average of $139.6. The company has a market cap of $10.522 billion and a price-to-earnings ratio of 15.32. C.R. Bard also saw unusually large options trading on Wednesday. Stock traders purchased 2,368 put options on the stock. This is an increase of approximately 855% compared to the average daily volume of 248 put options.
C.R. Bard (NYSE:BCR) last announced its earnings results on Tuesday, April 22nd. The company reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.06. The company had revenue of $799.30 million for the quarter, compared to the consensus estimate of $787.10 million. During the same quarter in the previous year, the company posted $1.44 earnings per share. The company’s revenue for the quarter was up 8.0% on a year-over-year basis. Analysts expect that C.R. Bard will post $8.26 EPS for the current fiscal year.
In other C.R. Bard news, CEO Timothy M. Ring sold 10,231 shares of the stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $147.50, for a total transaction of $1,509,072.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
C. R. Bard, Inc (NYSE:BCR) is engaged in the design, manufacture, packaging, distribution and sale of medical, surgical, diagnostic and patient care devices.
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