Investors Buy Shares of C.R. Bard Inc. (BCR) on Weakness
Investors bought shares of C.R. Bard Inc. (NYSE:BCR) on weakness during trading hours on Wednesday. $51.96 million flowed into the stock on the tick-up and $31.41 million flowed out of the stock on the tick-down, for a money net flow of $20.55 million into the stock. Of all stocks tracked, C.R. Bard had the 21st highest net in-flow for the day. C.R. Bard traded down ($0.11) for the day and closed at $236.84
A number of research firms have recently issued reports on BCR. Nomura Holdings Inc. began coverage on shares of C.R. Bard in a report on Thursday, March 17th. They set a “neutral” rating and a $205.00 price objective for the company. Barclays PLC boosted their price target on shares of C.R. Bard from $195.00 to $212.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 28th. Needham & Company LLC reissued a “hold” rating on shares of C.R. Bard in a research note on Thursday, April 28th. Bank of America Corp. reissued a “buy” rating on shares of C.R. Bard in a research note on Monday, May 23rd. Finally, Piper Jaffray Cos. reissued a “buy” rating and issued a $241.00 price target on shares of C.R. Bard in a research note on Tuesday, May 24th. Nine investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $220.13.
The company has a market cap of $17.36 billion and a P/E ratio of 160.14. The stock’s 50-day moving average is $225.13 and its 200 day moving average is $203.20.
C.R. Bard (NYSE:BCR) last posted its earnings results on Wednesday, April 27th. The company reported $2.34 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.17 by $0.17. The company had revenue of $873.50 million for the quarter, compared to analysts’ expectations of $845.77 million. The business’s revenue was up 6.6% on a year-over-year basis. During the same period in the previous year, the business posted $2.10 earnings per share. On average, equities analysts forecast that C.R. Bard Inc. will post $10.15 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, July 29th. Investors of record on Monday, July 18th will be paid a dividend of $0.26 per share. The ex-dividend date is Thursday, July 14th. This is an increase from C.R. Bard’s previous quarterly dividend of $0.24. This represents a $1.04 annualized dividend and a yield of 0.44%.
In other C.R. Bard news, Director Tony L. White sold 1,200 shares of the stock in a transaction on Thursday, May 5th. The shares were sold at an average price of $216.19, for a total transaction of $259,428.00. Following the completion of the transaction, the director now owns 14,671 shares in the company, valued at $3,171,723.49. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Christopher S. Holland sold 3,970 shares of the stock in a transaction on Friday, May 27th. The shares were sold at an average price of $219.89, for a total transaction of $872,963.30. Following the transaction, the chief financial officer now owns 31,306 shares of the company’s stock, valued at approximately $6,883,876.34. The disclosure for this sale can be found here.
A number of institutional investors have added to or reduced their stakes in the stock. Deere & Co. raised its position in C.R. Bard by 1.3% in the fourth quarter. Deere & Co. now owns 9,227 shares of the company’s stock valued at $1,748,000 after buying an additional 118 shares during the period. LS Investment Advisors LLC raised its position in C.R. Bard by 1.3% in the fourth quarter. LS Investment Advisors LLC now owns 17,620 shares of the company’s stock valued at $3,338,000 after buying an additional 226 shares during the period. Eaton Vance Management raised its position in C.R. Bard by 0.7% in the fourth quarter. Eaton Vance Management now owns 41,011 shares of the company’s stock valued at $7,769,000 after buying an additional 296 shares during the period. Hamilton Point Investment Advisors LLC raised its position in C.R. Bard by 2.8% in the fourth quarter. Hamilton Point Investment Advisors LLC now owns 16,265 shares of the company’s stock valued at $3,081,000 after buying an additional 450 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management CO. LTD. raised its position in C.R. Bard by 5.8% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. now owns 9,847 shares of the company’s stock valued at $1,865,000 after buying an additional 538 shares during the period.
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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