Shorts On Watch: Is Buying CR Bard Incorporated (NYSE:BCR), Having Lower Short Interest a Winning Strategy?

November 25, 2016 - By Clifton Ray   ·   0 Comments

Shorts On Watch: Is Buying CR Bard Incorporated (NYSE:BCR), Having Lower Short Interest a Winning Strategy?

The stock of CR Bard Incorporated (NYSE:BCR) registered a decrease of 6.24% in short interest. BCR’s total short interest was 1.19 million shares in November as published by FINRA. Its down 6.24% from 1.27 million shares, reported previously. With 487,900 shares average volume, it will take short sellers 2 days to cover their BCR’s short positions. The short interest to CR Bard Incorporated’s float is 1.62%. About 176,191 shares traded hands. C R Bard Inc (NYSE:BCR) has risen 1.34% since April 22, 2016 and is uptrending. It has underperformed by 4.07% the S&P500.

C. R. Bard, Inc. and its subsidiaries are engaged in designing, manufacturing, packaging, distribution and sale of medical, surgical, diagnostic and patient care devices. The company has a market cap of $15.73 billion. The Firm sells its products to hospitals, individual healthcare professionals, extended care facilities and alternate site facilities. It has a 28.37 P/E ratio. It operates through the manufacturing and sale of medical devices segment.

Insitutional Activity: The institutional sentiment decreased to 0.81 in Q2 2016. Its down 0.07, from 0.88 in 2016Q1. The ratio dropped, as 42 funds sold all C R Bard Inc shares owned while 222 reduced positions. 50 funds bought stakes while 182 increased positions. They now own 63.71 million shares or 9.15% less from 70.13 million shares in 2016Q1.
The Ohio-based Foster & Motley Inc has invested 0.18% in C R Bard Inc (NYSE:BCR). Oregon Employees Retirement Fund holds 15,744 shares or 0.08% of its portfolio. Steinberg Global Asset Management has 0.33% invested in the company for 8,093 shares. Twin Tree Mgmt Ltd Partnership, a Texas-based fund reported 1,975 shares. Johnson Invest Counsel owns 22,517 shares or 0.17% of their US portfolio. Laurion Capital Lp accumulated 0.01% or 3,500 shares. First Merchants Corp accumulated 0.36% or 4,707 shares. The Massachusetts-based Geode Capital Ltd Liability has invested 0.08% in C R Bard Inc (NYSE:BCR). Carderock Cap owns 12,208 shares or 1.52% of their US portfolio. The Germany-based Meag Munich Ergo Kapitalanlagegesellschaft Mbh has invested 1.13% in C R Bard Inc (NYSE:BCR). Voya Invest Management Ltd Company has 0.03% invested in the company for 50,431 shares. Nationwide Fund Advsrs owns 153,838 shares or 0.16% of their US portfolio. Willingdon Wealth has 1.04% invested in the company for 8,605 shares. Ontario Teachers Pension Plan Board last reported 33,814 shares in the company. Fred Alger Management has 5,500 shares for 0.01% of their US portfolio.

Insider Transactions: Since May 27, 2016, the stock had 0 insider purchases, and 4 insider sales for $26.02 million net activity. On Friday, October 28 the insider HOLLAND CHRISTOPHER S sold $1.21M. $1.75 million worth of C R Bard Inc (NYSE:BCR) shares were sold by DeFord John A. $21.03 million worth of C R Bard Inc (NYSE:BCR) was sold by RING TIMOTHY M on Tuesday, September 27. Khichi Samrat S. sold $2.03 million worth of stock.

C R Bard Inc (NYSE:BCR) Ratings Coverage

Out of 11 analysts covering CR Bard (NYSE:BCR), 4 rate it a “Buy”, 0 “Sell”, while 7 “Hold”. This means 36% are positive. CR Bard has been the topic of 16 analyst reports since August 27, 2015 according to StockzIntelligence Inc. As per Thursday, November 12, the company rating was initiated by Citigroup. Goldman Sachs upgraded C R Bard Inc (NYSE:BCR) on Thursday, August 27 to “Neutral” rating. The rating was maintained by Barclays Capital with “Equalweight” on Wednesday, July 27. KeyBanc Capital Markets initiated the shares of BCR in a report on Thursday, August 27 with “Sector Weight” rating. The rating was upgraded by Wells Fargo to “Outperform” on Friday, September 16. The rating was downgraded by Bank of America to “Neutral” on Friday, July 8. The stock has “Neutral” rating given by Nomura on Thursday, March 17. As per Wednesday, July 27, the company rating was maintained by Citigroup. Evercore initiated C R Bard Inc (NYSE:BCR) on Thursday, September 15 with “Buy” rating. Zacks downgraded C R Bard Inc (NYSE:BCR) on Monday, September 7 to “Hold” rating.

BCR Company Profile

C. R. Bard, Inc. (Bard), incorporated in 1923, and its subsidiaries are engaged in designing, manufacturing, packaging, distribution and sale of medical, surgical, diagnostic and patient care devices. The Firm operates through the manufacture and sale of medical devices segment. The Firm sells a range of products to hospitals, individual healthcare professionals, extended care facilities and alternate site facilities on a global basis. The Firm reports its sales in four major product group categories: vascular, urology, oncology and surgical specialty. The Firm also has a product group of other products. Through its subsidiaries, the Company markets its products to clients in over 100 countries outside the United States. The Company’s principal international markets are in Europe, Japan and China.

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By Clifton Ray


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