C.R. Bard Inc. (BCR) Shares Gap Up to $226.75
C.R. Bard Inc. (NYSE:BCR)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $226.47, but opened at $226.75. C.R. Bard shares last traded at $228.27, with a volume of 287,968 shares changing hands.
Several equities analysts recently commented on the company. Wells Fargo & Co. upgraded C.R. Bard from a “market perform” rating to an “outperform” rating in a research note on Friday. Evercore ISI assumed coverage on C.R. Bard in a research note on Thursday, September 15th. They issued a “buy” rating and a $235.00 price objective on the stock. Zacks Investment Research downgraded C.R. Bard from a “buy” rating to a “hold” rating in a research note on Thursday, August 4th. Morgan Stanley reiterated a “hold” rating and issued a $240.00 price objective on shares of C.R. Bard in a research note on Thursday, July 28th. Finally, Leerink Swann reiterated a “market perform” rating and issued a $233.00 price objective (down previously from $240.00) on shares of C.R. Bard in a research note on Thursday, July 28th. Thirteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $233.00.
The stock has a market cap of $16.74 billion, a price-to-earnings ratio of 53.01 and a beta of 0.57. The company’s 50-day moving average price is $220.20 and its 200-day moving average price is $217.61.
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C.R. Bard (NYSE:BCR) last posted its earnings results on Tuesday, July 26th. The company reported $2.54 EPS for the quarter, topping analysts’ consensus estimates of $2.47 by $0.07. C.R. Bard had a net margin of 9.20% and a return on equity of 48.43%. The business earned $931.50 million during the quarter, compared to the consensus estimate of $915.22 million. During the same quarter in the previous year, the firm posted $2.27 EPS. The firm’s revenue was up 8.3% on a year-over-year basis. Equities analysts forecast that C.R. Bard Inc. will post $10.17 EPS for the current year.
In other C.R. Bard news, VP John A. Deford sold 7,928 shares of C.R. Bard stock in a transaction that occurred on Tuesday, September 6th. The shares were sold at an average price of $221.06, for a total value of $1,752,563.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.97% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Standard Life Investments LTD acquired a new position in shares of C.R. Bard during the second quarter valued at $241,642,000. Norges Bank acquired a new position in shares of C.R. Bard during the fourth quarter valued at $123,663,000. JPMorgan Chase & Co. boosted its position in shares of C.R. Bard by 353.4% in the first quarter. JPMorgan Chase & Co. now owns 667,533 shares of the company’s stock valued at $135,290,000 after buying an additional 520,319 shares in the last quarter. Fundsmith LLP boosted its position in shares of C.R. Bard by 24.7% in the second quarter. Fundsmith LLP now owns 2,197,626 shares of the company’s stock valued at $516,220,000 after buying an additional 435,595 shares in the last quarter. Finally, Bank of Montreal Can acquired a new position in shares of C.R. Bard during the second quarter valued at $96,292,000. Institutional investors and hedge funds own 87.95% of the company’s stock.
About C.R. Bard
C. R. Bard, Inc (Bard) and its subsidiaries are engaged in designing, manufacturing, packaging, distribution and sale of medical, surgical, diagnostic and patient care devices. The Company sells its products to hospitals, individual healthcare professionals, extended care facilities and alternate site facilities.
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