
Investors on Wall Street shrugged at C.R. Bard‘s (NYSE:BCR) 1st-quarter results despite Street-beating earnings, sending shares down a tick today after instigating a slight overnight uptick.
The medical device giant reported profits of $138.7 million, or $1.60 per diluted share, on sales of $730 million for the 3 months ended March 31, for a bottom-line gain of 5.2% and top-line growth of 4.2%.
Excluding 1-time items, adjusted EPS were $1.61, 4¢ above analysts’ consensus predictions.
"While we haven’t seen much change in the U.S. environment, our increased focus and investments in international markets have provided rapid returns and strengthened our growth profile. We remain focused on daily execution of our product leadership strategy to take advantage of current opportunities while positioning ourselves for stronger growth in the future," chairman & CEO Timothy Ring said in prepared remarks.
CFO Todd said Bard expects to post constant-currency sales growth of between 4% and 7% and adjusted EPS of $1.61 to $1.65.
BCR shares opened today at $98.51, up 0.1% over yesterday’s close, before subsiding to $97.12 apiece as of about 12:20 p.m., down 0.9% on the day.