C.R. Bard Inc. (BCR) Coverage Initiated at Evercore ISI
Stock analysts at Evercore ISI started coverage on shares of C.R. Bard Inc. (NYSE:BCR) in a report released on Thursday. The firm set a “buy” rating and a $235.00 price target on the stock. Evercore ISI’s target price indicates a potential upside of 3.87% from the company’s current price.
BCR has been the topic of a number of other research reports. Bank of America Corp. lowered C.R. Bard from a “buy” rating to a “neutral” rating in a research report on Friday, July 8th. Jefferies Group upped their price objective on C.R. Bard from $215.00 to $237.00 and gave the stock a “hold” rating in a research report on Wednesday, July 27th. Barclays PLC boosted their target price on shares of C.R. Bard from $212.00 to $224.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 24th. JPMorgan Chase & Co. boosted their target price on shares of C.R. Bard from $214.00 to $225.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 27th. Finally, Leerink Swann reiterated a “hold” rating on shares of C.R. Bard in a research note on Wednesday, May 25th. Thirteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. C.R. Bard currently has a consensus rating of “Hold” and an average price target of $233.00.
C.R. Bard (NYSE:BCR) opened at 226.25 on Thursday. The firm’s 50 day moving average price is $220.39 and its 200-day moving average price is $216.50. C.R. Bard has a 1-year low of $172.21 and a 1-year high of $239.43. The stock has a market cap of $16.62 billion, a price-to-earnings ratio of 52.62 and a beta of 0.57.
C.R. Bard (NYSE:BCR) last posted its quarterly earnings data on Tuesday, July 26th. The company reported $2.54 earnings per share for the quarter, topping analysts’ consensus estimates of $2.47 by $0.07. C.R. Bard had a return on equity of 48.43% and a net margin of 9.20%. The business had revenue of $931.50 million for the quarter, compared to analyst estimates of $915.22 million. During the same quarter in the prior year, the company earned $2.27 earnings per share. The company’s revenue was up 8.3% on a year-over-year basis. On average, equities analysts anticipate that C.R. Bard will post $10.17 earnings per share for the current year.
In related news, VP John A. Deford sold 7,928 shares of the stock in a transaction dated Tuesday, September 6th. The shares were sold at an average price of $221.06, for a total transaction of $1,752,563.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.97% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. NN Investment Partners Holdings N.V. purchased a new position in C.R. Bard during the first quarter valued at about $100,000. Acrospire Investment Management LLC purchased a new position in C.R. Bard during the first quarter valued at about $101,000. Northwestern Mutual Wealth Management Co. boosted its position in C.R. Bard by 415.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 443 shares of the company’s stock valued at $104,000 after buying an additional 357 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its position in C.R. Bard by 43.7% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 454 shares of the company’s stock valued at $107,000 after buying an additional 138 shares in the last quarter. Finally, LSV Asset Management purchased a new position in C.R. Bard during the second quarter valued at about $123,000. 87.95% of the stock is owned by hedge funds and other institutional investors.
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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