Cowen and Company Reaffirms “Hold” Rating for C.R. Bard, Inc. (BCR)
C.R. Bard, Inc. (NYSE:BCR)‘s stock had its “hold” rating reiterated by analysts at Cowen and Company in a report released on Friday. They currently have a $317.00 target price on the medical instruments supplier’s stock. Cowen and Company’s price objective would suggest a potential downside of 5.53% from the company’s previous close.
Other equities research analysts have also issued research reports about the stock. Jefferies Group LLC reaffirmed a “hold” rating on shares of C.R. Bard in a research report on Thursday, August 3rd. BidaskClub raised shares of C.R. Bard from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of C.R. Bard in a research report on Thursday, October 26th. Zacks Investment Research lowered shares of C.R. Bard from a “buy” rating to a “hold” rating in a research report on Monday, July 17th. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $317.00 price target on shares of C.R. Bard in a research report on Tuesday, July 11th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $292.00.
Shares of C.R. Bard (NYSE BCR) traded up $8.77 during trading hours on Friday, reaching $335.55. The company’s stock had a trading volume of 105,153 shares, compared to its average volume of 478,414. The firm has a market capitalization of $24.46 billion, a PE ratio of 28.98 and a beta of 0.53.
C.R. Bard (NYSE:BCR) last issued its earnings results on Wednesday, October 25th. The medical instruments supplier reported $3.02 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.96 by $0.06. C.R. Bard had a return on equity of 48.28% and a net margin of 14.75%. The business had revenue of $989.80 million during the quarter, compared to analyst estimates of $990.64 million. During the same quarter in the previous year, the firm earned $2.64 EPS. C.R. Bard’s revenue was up 5.1% on a year-over-year basis. research analysts expect that C.R. Bard will post 11.89 earnings per share for the current fiscal year.
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In related news, insider Timothy P. Collins sold 8,388 shares of the business’s stock in a transaction that occurred on Monday, October 9th. The stock was sold at an average price of $322.00, for a total transaction of $2,700,936.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David M. Barrett sold 3,344 shares of the business’s stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $327.31, for a total value of $1,094,524.64. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 136,568 shares of company stock valued at $43,932,079. 0.80% of the stock is currently owned by corporate insiders.
Several large investors have recently made changes to their positions in the stock. Mitsubishi UFJ Securities Holdings Co. Ltd. boosted its stake in C.R. Bard by 70.4% in the 2nd quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 460 shares of the medical instruments supplier’s stock worth $145,000 after purchasing an additional 190 shares during the period. Parallel Advisors LLC boosted its stake in C.R. Bard by 2.8% in the 2nd 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. Captrust Financial Advisors bought a new position in C.R. Bard in the 2nd quarter worth approximately $192,000. Choate Investment Advisors bought a new position in C.R. Bard in the 2nd quarter worth approximately $201,000. Finally, Stock Yards Bank & Trust Co. bought a new position in C.R. Bard in the 2nd quarter worth approximately $207,000. Institutional investors own 79.27% 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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