Piper Jaffray Cos. upgraded shares of C.R. Bard (NYSE:BCR) from a neutral rating to an overweight rating in a research note issued to investors on Wednesday, TheFlyOnTheWall.com reports. The firm currently has $140.00 price target on the stock, up from their previous price target of $114.00.
“We are upgrading Bard to Overweight and raising our PT to $140 from $114. Our upgrade is based on improving market fundamentals, which are further aiding product/geography mix driven growth. We also view BCR as the purest large cap play in the peripheral vascular market which, as recently highlighted at our 2013 Heartland Summit, we see presenting medtech opportunities not seen since the pre-DES coronary heart disease market in terms of global disease prevalence and relative under treatment. We view FY14-15 consensus estimates as conservative with the potential for mid-single digit organic revenue growth by FY15 and double-digit EPS growth. This positions BCR as one of the premier growth stories in large cap medtech with the added safety of a diverse product offering.,” Piper Jaffray Cos.’s analyst wrote.
In other C.R. Bard news, COO John H. Weiland sold 60,210 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $134.01, for a total transaction of $8,068,742.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
A number of other analysts have also recently weighed in on BCR. Analysts at Goldman Sachs Group Inc. upgraded shares of C.R. Bard from a sell rating to a neutral rating in a research note to investors on Wednesday. They now have a $132.00 price target on the stock, up previously from $106.00. Separately, analysts at Citigroup Inc. reiterated a neutral rating on shares of C.R. Bard in a research note to investors on Monday, October 14th. They now have a $124.00 price target on the stock, up previously from $123.00. Finally, analysts at Needham & Company initiated coverage on shares of C.R. Bard in a research note to investors on Wednesday, September 4th. They set a hold rating on the stock. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $126.88.
Shares of C.R. Bard (NYSE:BCR) traded up 0.54% on Wednesday, hitting $135.18. 405,287 shares of the company’s stock traded hands. C.R. Bard has a 52 week low of $93.79 and a 52 week high of $119.99. The stock’s 50-day moving average is $115.6 and its 200-day moving average is $107.2. The company has a market cap of $10.700 billion and a price-to-earnings ratio of 60.75.
C.R. Bard (NYSE:BCR) last posted its quarterly earnings results on Tuesday, October 22nd. The company reported $1.50 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.40 by $0.10. The company had revenue of $758.00 million for the quarter, compared to the consensus estimate of $739.12 million. During the same quarter in the prior year, the company posted $1.64 earnings per share. The company’s quarterly revenue was up 4.9% on a year-over-year basis. On average, analysts predict that C.R. Bard will post $5.78 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, November 1st. Shareholders of record on Monday, October 21st will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.62%. The ex-dividend date is Thursday, October 17th.
C. R. Bard, Inc (NYSE:BCR) is engaged in the design, manufacture, packaging, distribution and sale of medical, surgical, diagnostic and patient care devices.
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