Traders Buy C.R. Bard Inc. (BCR) on Weakness on Insider Selling
Investors purchased shares of C.R. Bard Inc. (NYSE:BCR) on weakness during trading on Thursday after an insider sold shares in the company. $63.09 million flowed into the stock on the tick-up and $29.26 million flowed out of the stock on the tick-down, for a money net flow of $33.83 million into the stock. Of all companies tracked, C.R. Bard had the 18th highest net in-flow for the day. C.R. Bard traded down ($3.56) for the day and closed at $223.74Specifically, VP John A. Deford sold 7,928 shares of the business’s stock in a transaction that occurred on Tuesday, September 6th. The shares were sold at an average price of $221.06, for a total transaction of $1,752,563.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Betty D. Larson sold 4,032 shares of the business’s stock in a transaction that occurred on Monday, September 19th. The stock was sold at an average price of $225.33, for a total transaction of $908,530.56. Following the sale, the vice president now owns 10,298 shares of the company’s stock, valued at approximately $2,320,448.34. The disclosure for this sale can be found here. Insiders own 0.97% of the company’s stock.
Several brokerages have recently weighed in on BCR. Jefferies Group restated a “hold” rating and set a $237.00 price objective on shares of C.R. Bard in a research report on Tuesday. Wells Fargo & Co. upgraded shares of C.R. Bard from a “market perform” rating to an “outperform” rating in a research report on Friday, September 16th. Evercore ISI initiated coverage on shares of C.R. Bard in a research report on Thursday, September 15th. They set a “buy” rating and a $235.00 price objective for the company. Zacks Investment Research downgraded shares of C.R. Bard from a “buy” rating to a “hold” rating in a research report on Thursday, August 4th. Finally, Morgan Stanley reiterated a “hold” rating and issued a $240.00 price target on shares of C.R. Bard in a research report on Thursday, July 28th. Thirteen analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. C.R. Bard currently has a consensus rating of “Hold” and a consensus price target of $233.00.
The firm has a market cap of $16.47 billion, a PE ratio of 52.16 and a beta of 0.57. The company’s 50 day moving average price is $221.50 and its 200 day moving average price is $219.16.
C.R. Bard (NYSE:BCR) last released its quarterly earnings data on Tuesday, July 26th. The company reported $2.54 EPS for the quarter, topping analysts’ consensus estimates of $2.47 by $0.07. The firm earned $931.50 million during the quarter, compared to the consensus estimate of $915.22 million. C.R. Bard had a net margin of 9.20% and a return on equity of 48.43%. The firm’s revenue was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.27 earnings per share. Equities analysts anticipate that C.R. Bard Inc. will post $10.17 earnings per share for the current year.
A number of institutional investors have recently added to or reduced their stakes in BCR. Standard Life Investments LTD acquired a new position in C.R. Bard during the second quarter worth approximately $241,642,000. JPMorgan Chase & Co. increased its position in C.R. Bard by 353.4% in the first quarter. JPMorgan Chase & Co. now owns 667,533 shares of the company’s stock worth $135,290,000 after buying an additional 520,319 shares in 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 worth $516,220,000 after buying an additional 435,595 shares in the last quarter. Bank of Montreal Can acquired a new position in C.R. Bard during the second quarter worth approximately $96,292,000. Finally, 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 worth $1,743,433,000 after buying an additional 335,276 shares in the last quarter. 87.90% 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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