Piper Jaffray Concludes C.R. Bard's FY12 Estimates Remain Largely Unchanged Following Solid 4Q11
In a recent research report published by Piper Jaffray, C.R. Bard's (NYSE: BCR) 4QFY11 results were essentially in-line with commentary at its December analyst day.
Piper Jaffray reported, “Revenue of $751.9M and gross margins of 61.5% were slightly above expectations. OUS performance continues to impress, while some encouraging, although slight moderation on pricing pressure emerged. EPS of $1.70 was just above PJC ($1.69) and consensus ($1.68). Our FY12 estimates remain largely unchanged; with some adjustments to quarterly EPS cadence given new 1Q guidance and the likelihood for more acquisition related accretion as the year progresses. We are rolling out our FY13 EPS estimate of $7.01.”
Piper Jaffray maintains its Neutral rating and $86 PT on C.R. Bard, which closed yesterday at $92.52.
