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CR Bard Inc. Message Board

  • STOKBOY2 STOKBOY2 May 6, 1998 3:15 PM Flag


    what's up with this company? Prudential's
    analyst, charlene lu, claims these recently reported
    numbers are cooked. Everythings been thrown in, even the
    kitchen sink. Do we have another cendant


    nervous shareholder

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    • Betterreturns,
      You make some very good points
      in your response regarding BCR. There is nothing
      wrong with wanting to invest in your company and
      wanting others to invest as well. It makes for the best
      situation for a company that is innovative and looking for
      solid growth and a great future. BCR has some of the
      best people that I have ever worked with in this
      industry (yes, I am a lifer in the device industry)in over
      25 years. Many of them still remain in the trenches
      day in and day out and I speak to many of them
      frequently. It is frustrating to know that there is still the
      talent but not the leadership that can provide the
      vision and make it reality. BCR badly needs to re-invent
      itself and begin to grow to its potential. It's sad to
      see it still mired in the mud years after the bad
      times in the early '90's.

      ThiughtsandMore -

      Thanks for your thoughts as well. I plan to remain, for
      the most part, a quiet observer to this page as I am
      not as close to the action as all of the rest of the
      contributors are. I still care about many of the people in
      Bard and it is sad to see the morale so low. I hope
      that the Board of Directors gets it's act together and
      realizes that opportunity is at hand if they will fiind
      the right team to lead the troops

      GOOD LUCK!

    • Bardex, you posted the best message that has been
      on this Board in long time. I talk to many
      purchasing representatives for hospitals and they confirm
      that physician requests for Bard products is not like
      it used to be. Seems your point is right on the mark
      - but don't expect things to change with current
      management. I have also talked to Bard stock analysts
      recently and they agree with you - Bard's current share
      price is a function of takeover (or divestiture)
      speculation (apparently fueled by Bard management) and not a
      reflection of the intrinsic value of the company's

    • Bardex:
      I don't disagree with the focus on the
      customer and did not mean to dismiss the need for that. In
      fact, I think I asked about what new products were in
      the pipeline. For new products to be successful they
      must focus on the customer's needs. It also helps if
      they are re-imbursable and provide better economic
      returns. It doesn't hurt if they are innovative, patenable
      (application and method) and are in new or emerging markets.
      Bard has always been known as a quality company and
      yes even one time an innovator. I know that you know
      that EPS is not everything, but the opportunity for
      EPS is really what counts. (The future) I was not
      invested in Bard 15 years ago but invested in Bard because
      I hoped they could return to those glory years.

      IBM was a great place at one point to work at but the
      environment of the old is not of today there. Environments
      and change must occur. In today's job ranks this
      means that a company that you fit into now may not be
      your culture in 15 years. Thankfully, I bought IBM
      stock when it was in the $50's because I believed it to
      be undervalued. The culture changed at IBM and they
      have grown.
      I hope Bard Management nor any employee
      ever ignores their customer. I am not looking to get
      rich quick, I follow a value investor philosophy and
      do not buy momentum stocks. I am looking for
      long-term sustainlable growth. But after 4 years of being
      invested in Bard stock, I am disappointed. The stock
      continues to lag and underperform and I still await the
      turn around. Unfortunately, if Bard is soley focused
      on the investor, they have done a very poor job of
      performing. It seems to me that Bard has not re-invented
      itself lately as every company must do. Complacency
      exists. People are more interested in keeping their jobs
      (only a guess on my part) than taking some risks. I do
      not know how the Bard employees feel but from this
      board, it would seem to be disgruntled. But discontent
      exists everywhere and does nothing to help a company
      grow. In fact, discontent takes away from the customer
      focus and causes customers to question their buying
      I am glad to hear your company is doing well.
      Maybe I should be investing there as well. Our company
      is doing just fine, as well, but then again our
      stock is not traded. Of course we are not resting on
      the past but looking to the future to determine our
      path for success. We all have long careers ahead of
      us. Driving the value of our company up allows us to
      retire comfortably. If Bard increases its value that
      will help even more.
      I would think that you would
      want the investor to be interested in Bard. After all,
      if others are interested the demand for the stock
      will drive up value. Increased value will mean
      increased opportunity to invest in the future. A better
      future will mean a better retirement. There is nothing
      about getting rich quick in that!

    • Betterreturns -
      I am an ex Bard employee that
      has been watching the BCR/Yahoo ether with some
      interest lately. Based on the sampling of communications
      on this page it looks as if nothing much has changed
      with Bard over the years. I too still hold on to some
      Bard stock although I was lucky enough to dump most of
      it years ago when it still knew what the other side
      of $40 looked like. Has it ever occured to you or
      any of the senior management at Bard today that a
      major reason for the decline in Bard as a business and
      the resultant decline in what used to be a great work
      environment is due to the never ending desire to get rich
      quick by driving up the stock prices by any
      There was a time in the '70's and '80's when Bard had a
      customer focus on the real customer - the healthcare
      professional not the stockholder. Physicians demanded Bard
      products because they were high quality and met the needs
      of the user better than any of the competition out
      there. Their satisfaction let Bard grow and record
      setting rates year in and year out. It is interesting to
      note that during this time the stock would routinely
      split 2:1 or 3:2 about every other year. After the
      split it would steadily climb back to the $40 or $50
      levels. When top management decided that the primary
      customer for Bard was the investor in Bard and not the
      health care professional and employees began to worry
      more about the price of the stock every day instead of
      making high quality products that meet the real needs of
      the customers(let's say it all together now - the
      physician)Bard began its decline into mediocrity. Does anyone in
      Bard still remember the cornerstone of the company for
      years - QUALITY, SERVICE, INTEGRITY? Apparently this is
      lost to most of the leadership and apparently many of
      the employees.
      Don't get me wrong. I own stock in
      many companies. I look at the stock price of my
      current employer every day. My current employer however
      has a leadership philosophy that clearly demands that
      we take care of the needs of the real customer
      first. It's a formula that Bard had at one time and has
      since lost. Too bad for Bard but great for me and my
      current company. Our stock split last year and is
      climbing again. Think about it while you work on your job.
      Get rich quick means both you and the company lose.
      Perhaps it's time to think of how you can provide real
      value to Bard and how Bard can provide real value to
      the customer. The lining of your pockets will take
      care of itself in the long run.

    • Why is it that this board is filled with
      assaults. I think Bard already has enough of that. Let's
      look at shareholder value and returns. Bard Stock has
      not measured up and the future does not look rosey
      either, unless I'm missing something. News of USCI has
      caused the run-up in stock but poor EPS has bumped it
      back down. Division by Division things don't look
      great. BIP is in a mature market with a huge bet on the
      future which is fine, but what else do they have in the
      pipeline? Bard Medical is in a commodity market with a poor
      sales performance but excellent profits. Bard Urology
      hasn't done anything outstanding. A few hits such as
      contigen and proscript but what next? Bard Access is in a
      mature market. Great Profits but slowing growth? What's
      in the pipeline? Radiology is getting killed by
      others and selling me too products? USCI when they get
      the stent will it be state of art? AVEI and Guidant
      or booming. Impra seems to have a competitive
      product but Gore seems to be out muscling them. Davol
      seems to have a geat mesh product and Avitene seems to
      be a good fit. But where is the pipeline of products
      for everyone. I'd love to see Bard hit some homeruns
      but even consistent singles, doubles and occasional
      triples would be nice. Everything seems to be line
      extensions with overstated sales projections which never pan
      out. If things stay status quo without R&D or
      acquisitions which fit how will the EPS grow and my stock
      increase. Which divisions aren't meeting sales projections?
      Why? Whose blowing it away and why? Who cares that Mr.
      Smith is gone, Mr. Longfield runs the show as it should
      be and should be held accountable and payed
      accordingly. For what it matters, I would like to see all of
      his pay in stock options at 35.00 or whatever the
      current price, even if it dilutes my shareholder value.
      It certainly has motivated a lot of others. Who
      cares where Bard ranks in the Fortune 500 unless it
      increases my stock price. Since, I don't get enough about
      individual divisions from the reports, I'd love to know how
      each is doing. I don't want anything proprietary or
      confidential but if you are saying it at a tradeshow you can
      share it here.

    • StokBoy2, please provide more info about what Ms. Lu said and where you read it. This is not the first time the issue has been raised.

      • 1 Reply to StkObserver
      • stkobserver, my pru broker called when the report
        hit the wire due to my substantial position. It was a
        research "break in comment".

        the report claims that
        there is an expense overhang that will be hit through
        the first 3 qtrs of '98 - year 2000 conversion.
        Furthermore, the report suggested the sales numbers were

        it goes on to suggest that bcr will be
        pressured due to difficult pricing and the current lack of
        approved stent. Filing for stent is not expected until
        9/98, reimbursement approval is expected six months
        after that. Not good!

        sounds bad to
        me...especially in this fast market

    • StokBoy2, please provide more info about what Ms. Lu said and where you read it. This is not the first time the issue has been raised.

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