As baby boomers age, they need more and more medical care. That might not be good for those of us born between 1946 and 1964, but it is good for companies such as C.R. Bard (NYSE:BCR), which designs, manufactures and distributes a variety of medical, surgical and diagnostic devices. The company has been rewarding shareholders with a solid dividend since 1960, with an annual dividend yield of 0.8%.
That’s not a huge yield by any means, but keep in mind that the stock also offers great price appreciation, as BCR shares are up 15.7% year-to-date.
C.R. Bard recently bested earnings for the first quarter, and though revenues increased, they did fall shy of expectations. The company has a strong pipeline of new medical devices coming to the market, including the Fluency Plus stent grafts and Denali vena cava filters. Of course, it’s not the only firm in this sector. The company faces strong competition from Boston Scientific (NYSE:BSX) and AngioDynamics (NASDAQ:ANGO). Yet despite other successful firms in the space, C.R. Bard has carved out a big slice of the medical device market — a market that’s only going to get bigger as boomers age.
As of this writing, Jim Woods did not hold a position in any of the aforementioned securities.