Zacks Investment Research Downgrades Bayer AG (BAYRY) to Hold
According to Zacks, “Bayer delivered better-than-expected third-quarter results, wherein both the top and the bottom line surpassed expectations. The company’s Life Science businesses continue to perform well, particularly Pharmaceuticals. Newly launched products in the Pharmaceuticals segment should continue to perform impressively in the upcoming quarters. Bayer has made several acquisitions and entered into a number of deals to boost its portfolio in the past few quarters. In its attempt to create a global leader in agriculture, Bayer is looking to acquire Monsanto in a deal worth about $66 billion. We are further impressed by Bayer’s strategy of transforming itself into a pure life science company, which resulted in the sale of its Diabetes Care business and the spin-off of MaterialScience. However, dependence on the Pharmaceuticals segment for growth is concerning. Weak macroeconomic conditions add to its woes.”
Shares of Bayer AG (NASDAQ:BAYRY) traded down 0.38% during midday trading on Monday, reaching $96.52. The company’s stock had a trading volume of 50,761 shares. Bayer AG has a one year low of $94.36 and a one year high of $134.04. The company has a market capitalization of $79.82 billion and a P/E ratio of 15.62. The stock’s 50-day moving average is $99.34 and its 200-day moving average is $102.92.
About Bayer AG
Bayer AG is a life science company. The Company’s segments are Pharmaceuticals, Consumer Health, Crop Science, Animal Health and Covestro. The Pharmaceuticals segment is engaged in the development of prescription pharmaceuticals; contraceptives, and medical products, such as injection systems and contrast agents for diagnostic procedures.
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