C R Bard Inc (BCR) is Downgraded by BofA/Merrill to Neutral

C R Bard Inc (BCR) was Downgraded by BofA/Merrill to ” Neutral”. Earlier the firm had a rating of “Buy ” on the company shares. BofA/Merrill advised their investors in a research report released on Jul 8, 2016.

Many Wall Street Analysts have commented on C R Bard Inc. Company shares were Reiterated by Barclays on May 24, 2016 to “Equal Weight”, Firm has raised the Price Target to $ 224 from a previous price target of $212 .Company shares were Reiterated by Barclays on Apr 28, 2016 to “Equal Weight”, Firm has raised the Price Target to $ 212 from a previous price target of $195 .

On the company’s financial health, C R Bard Inc reported $2.34 EPS for the quarter, beating the analyst consensus estimate by $ 0.17 according to the earnings call on Apr 27, 2016. Analyst had a consensus of $2.17. The company had revenue of $873.50 million for the quarter, compared to analysts expectations of $847.53 million. The company’s revenue was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.10 EPS.

C R Bard Inc opened for trading at $235.05 and hit $238.23 on the upside on Tuesday, eventually ending the session at $236.95, with a gain of 0.94% or 2.2 points. The heightened volatility saw the trading volume jump to 4,60,419 shares. Company has a market cap of $17,373 M.

Investors should note that on Jun 8, 2016, C R Bard Inc announced a cash dividend of $0.2600. The company’s management has announced Jul 14, 2016 as the ex-dividend date and fixed the record date on Jul 18, 2016. The payable date has been fixed on Jul 29, 2016.

In a different news, on Jun 1, 2016, Christopher S Holland (Senior Vice President and CFO) sold 3,970 shares at $219.88 per share price. According to the SEC, on May 18, 2016, John P Groetelaars (Group President) sold 1,162 shares at $219.88 per share price. On May 16, 2016, Tommy G Thompson (director) sold 500 shares at $219.52 per share price, according to the Form-4 filing with the securities and exchange commission.

C. R. Bard Inc. (Bard) and its subsidiaries are engaged in the design manufacture packaging distribution and sale of medical surgical diagnostic and patient care devices. . The Company reports its sales in four major product group categories: vascular urology oncology and surgical specialty. The Company also has a product group of other products. The Company’s vascular products cover a range of minimally invasive devices for the treatment of peripheral vascular disease and heart arrhythmias. Its urology products include basic urology drainage products fecal and urinary continence products urological specialty products and Targeted Temperature Management products. Its oncology products cover a range of devices used in the treatment and management of various cancers and other diseases and disorders. Its surgical specialty products include implanted patches and fixation devices for hernia and other soft tissue repairs in addition to hemostats and surgical sealants.

C R Bard Inc

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