C.R. Bard Inc. (NYSE:BCR) – Stock analysts at Leerink Swann reduced their FY2020 earnings estimates for shares of C.R. Bard in a research note issued on Friday. Leerink Swann analyst R. Newitter now expects that the brokerage will earn $14.00 per share for the year, down from their prior estimate of $14.02. Leerink Swann has a “Market Perform” rating and a $233.00 price objective on the stock.
C.R. Bard (NYSE:BCR) last issued its quarterly earnings results on Tuesday, July 26th. The company reported $2.54 EPS for the quarter, beating the consensus estimate 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 firm earned $931.50 million during the quarter, compared to analysts’ expectations of $915.22 million. During the same period in the prior year, the firm posted $2.27 earnings per share. The business’s quarterly revenue was up 8.3% compared to the same quarter last year.
Several other research analysts have also weighed in on the company. Jefferies Group reissued a “hold” rating and issued a $237.00 price objective on shares of C.R. Bard in a research report on Tuesday, September 27th. Wells Fargo & Co. raised C.R. Bard from a “market perform” rating to an “outperform” rating in a research report on Friday, September 16th. Evercore ISI assumed coverage on C.R. Bard in a research report on Thursday, September 15th. They issued a “buy” rating and a $235.00 price objective for the company. Zacks Investment Research lowered C.R. Bard from a “buy” rating to a “hold” rating in a research report on Thursday, August 4th. Finally, Morgan Stanley reissued a “hold” rating and issued a $240.00 price objective on shares of C.R. Bard in a research report on Thursday, July 28th. Thirteen research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $233.00.
C.R. Bard (NYSE:BCR) traded up 2.01% during mid-day trading on Monday, reaching $223.45. The company’s stock had a trading volume of 323,072 shares. C.R. Bard has a 52-week low of $172.21 and a 52-week high of $239.43. The company has a market cap of $16.41 billion, a price-to-earnings ratio of 51.97 and a beta of 0.50. The firm has a 50 day moving average price of $222.37 and a 200 day moving average price of $221.14.
A number of institutional investors have recently bought and sold shares of BCR. Vanguard Group Inc. increased its position in C.R. Bard by 4.7% in the second quarter. Vanguard Group Inc. now owns 7,413,815 shares of the company’s stock valued at $1,743,433,000 after buying an additional 335,276 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its position in C.R. Bard by 7.8% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 2,409,718 shares of the company’s stock valued at $566,669,000 after buying an additional 174,993 shares during the last quarter. Fundsmith LLP increased its position in 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 during the last quarter. BlackRock Fund Advisors increased its position in C.R. Bard by 15.3% in the second quarter. BlackRock Fund Advisors now owns 2,175,495 shares of the company’s stock valued at $511,589,000 after buying an additional 288,839 shares during the last quarter. Finally, FMR LLC increased its position in C.R. Bard by 11.7% in the second quarter. FMR LLC now owns 1,463,375 shares of the company’s stock valued at $344,127,000 after buying an additional 153,487 shares during the last quarter. Institutional investors and hedge funds own 87.90% of the company’s stock.
In related news, VP John A. Deford sold 7,928 shares of the company’s stock in a transaction that occurred on Tuesday, September 6th. The stock was 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 SEC, which is available at this hyperlink. Also, Chairman Timothy M. Ring sold 110,000 shares of the company’s stock in a transaction that occurred on Monday, September 26th. The shares were sold at an average price of $228.96, for a total value of $25,185,600.00. Following the completion of the transaction, the chairman now owns 96,030 shares in the company, valued at approximately $21,987,028.80. The disclosure for this sale can be found here. 0.97% of the stock is owned by insiders.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 4th. Stockholders of record on Monday, October 24th will be paid a $0.26 dividend. The ex-dividend date is Thursday, October 20th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.47%. C.R. Bard’s payout ratio is presently 24.24%.
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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