C.R. BARD INC. $104 (New York symbol BCR; Conservative Growth Portfolio, Consumer sector; Shares outstanding: 80.5 million; Market cap: $8.4 billion; Price-to-sales ratio: 2.9; Dividend yield: 0.7%; TSINetwork Rating: Above Average; www.crbard.com) makes vascular products, such as stents and catheters; oncology products that detect and treat various types of cancer; urology products, such as drainage and incontinence devices; and surgical tools. Overseas markets supply a third of the company’s sales.
Bard recently agreed to pay $50.5 million to settle allegations that from 1998 to 2006 the company offered hospitals free equipment and other benefits if they used its cancer-treatment products.
If you exclude these costs, Bard’s earnings fell 13.5% in the first quarter of 2013, to $120.7 million from $139.5 million a year earlier. Earnings per share fell 10.6%, to $1.44 from $1.61, on fewer shares outstanding. However, sales rose 1.4%, to $740.3 million from $730.0 million. Bard spent 8.0% of its sales on research in the quarter, up from 6.6% a year earlier.
The stock is up 7% since the start of 2013 and now trades at 16.6 times the $6.25 a share it should earn this year. The $0.80 dividend yields 0.8%.
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