Brokers Issue Forecasts for C.R. Bard Inc.’s FY2020 Earnings (BCR)
C.R. Bard Inc. (NYSE:BCR) – Analysts at Leerink Swann decreased their FY2020 EPS estimates for C.R. Bard in a research note issued to investors on Friday. Leerink Swann analyst R. Newitter now anticipates that the brokerage will earn $14.00 per share for the year, down from their previous forecast of $14.02. Leerink Swann currently has a “Market Perform” rating and a $233.00 target price on the stock.
C.R. Bard (NYSE:BCR) last released its quarterly earnings data on Tuesday, July 26th. The company reported $2.54 earnings per share (EPS) for the quarter, beating 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 company had revenue of $931.50 million for the quarter, compared to analyst estimates of $915.22 million. During the same period in the previous year, the company posted $2.27 EPS. The firm’s revenue for the quarter was up 8.3% compared to the same quarter last year.
A number of other analysts have also commented on the company. Jefferies Group reissued a “hold” rating and issued a $237.00 target price on shares of C.R. Bard in a report on Tuesday, September 27th. Wells Fargo & Co. raised C.R. Bard from a “market perform” rating to an “outperform” rating in a report on Friday, September 16th. Evercore ISI began coverage on C.R. Bard in a report on Thursday, September 15th. They issued a “buy” rating and a $235.00 target price for the company. Zacks Investment Research lowered C.R. Bard from a “buy” rating to a “hold” rating in a report on Thursday, August 4th. Finally, Morgan Stanley reissued a “hold” rating and issued a $240.00 target price on shares of C.R. Bard in a report on Thursday, July 28th. Thirteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. C.R. Bard presently has a consensus rating of “Hold” and a consensus price target of $233.00.
C.R. Bard (NYSE:BCR) traded down 1.32% during mid-day trading on Monday, hitting $220.47. The company had a trading volume of 392,412 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 capitalization of $16.19 billion, a price-to-earnings ratio of 51.27 and a beta of 0.50. The firm’s 50 day moving average is $222.46 and its 200 day moving average is $221.27.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 4th. Shareholders of record on Monday, October 24th will be issued a dividend of $0.26 per share. The ex-dividend date is Thursday, October 20th. This represents a $1.04 dividend on an annualized basis and a yield of 0.47%. C.R. Bard’s dividend payout ratio is presently 24.24%.
In other C.R. Bard news, Chairman Timothy M. Ring sold 110,000 shares of the firm’s stock in a transaction dated Monday, September 26th. The stock was sold at an average price of $228.96, for a total transaction of $25,185,600.00. Following the sale, the chairman now directly owns 96,030 shares of the company’s stock, valued at $21,987,028.80. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Timothy M. Ring sold 92,293 shares of the firm’s stock in a transaction dated Wednesday, September 28th. The shares were sold at an average price of $227.81, for a total value of $21,025,268.33. Following the sale, the chairman now directly owns 145,876 shares in the company, valued at $33,232,011.56. The disclosure for this sale can be found here. Company insiders own 0.97% of the company’s stock.
A number of large investors have recently bought and sold shares of BCR. Standard Life Investments LTD acquired a new stake in C.R. Bard during the second quarter worth approximately $241,642,000. Fundsmith LLP boosted its stake in shares of 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 period. Panagora Asset Management Inc. boosted its stake in shares of C.R. Bard by 3.5% in the first quarter. Panagora Asset Management Inc. now owns 499,651 shares of the company’s stock valued at $101,264,000 after buying an additional 17,012 shares during the period. Smith Asset Management Group LP boosted its stake in shares of C.R. Bard by 32.4% in the second quarter. Smith Asset Management Group LP now owns 184,364 shares of the company’s stock valued at $43,355,000 after buying an additional 45,083 shares during the period. Finally, Squarepoint Ops LLC boosted its stake in shares of C.R. Bard by 49.4% in the first quarter. Squarepoint Ops LLC now owns 5,152 shares of the company’s stock valued at $1,044,000 after buying an additional 1,703 shares during the period. 87.90% of the stock is currently owned by institutional investors and hedge funds.
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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