Morgan Stanley Reiterates Underweight Rating on C.R. Bard Following USPTO Ruling

In a report published Thursday, Morgan Stanley analyst David R. Lewis reiterated an Underweight rating on C.R. Bard BCR. In the report, Morgan Stanley noted, “USPTO rules in favor of Bard and increases odds of a near-term receipt of awards. Gore has been arguing that there is no final judgment in the patent infringement suit with Bard as (i) the willfulness issue is still in dispute and (ii) the US Patent and Trademark Office (USPTO) was re-examining the validity of the disputed patent. Today's announcement looks to remove the later point and makes it incrementally more likely for Bard to receive the Gore windfall (less the willfulness penalties) in the near-term.” C.R. Bard closed on Wednesday at $109.44.