Main Street Research LLC cut its stake in shares of C.R. Bard, Inc. (NYSE:BCR) by 3.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 44,441 shares of the medical instruments supplier’s stock after selling 1,540 shares during the period. C.R. Bard comprises about 2.3% of Main Street Research LLC’s portfolio, making the stock its 8th largest position. Main Street Research LLC owned about 0.06% of C.R. Bard worth $14,048,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. BlackRock Inc. increased its stake in shares of C.R. Bard by 1,365.7% in the first quarter. BlackRock Inc. now owns 7,398,081 shares of the medical instruments supplier’s stock valued at $1,838,719,000 after buying an additional 6,893,346 shares during the last quarter. MARSHALL WACE ASIA Ltd bought a new stake in C.R. Bard during the first quarter worth approximately $132,062,000. Marshall Wace North America L.P. bought a new stake in C.R. Bard during the first quarter worth approximately $132,062,000. Renaissance Technologies LLC increased its stake in C.R. Bard by 87.8% in the first quarter. Renaissance Technologies LLC now owns 956,700 shares of the medical instruments supplier’s stock worth $237,778,000 after buying an additional 447,300 shares in the last quarter. Finally, Alliancebernstein L.P. increased its stake in C.R. Bard by 267.0% in the first quarter. Alliancebernstein L.P. now owns 491,184 shares of the medical instruments supplier’s stock worth $122,079,000 after buying an additional 357,355 shares in the last quarter. 85.32% of the stock is currently owned by institutional investors and hedge funds.
C.R. Bard, Inc. (NYSE BCR) opened at 319.75 on Friday. The stock has a market capitalization of $23.24 billion, a P/E ratio of 41.98 and a beta of 0.59. The stock has a 50 day moving average of $319.00 and a 200 day moving average of $283.44. C.R. Bard, Inc. has a 52 week low of $203.63 and a 52 week high of $323.27.
C.R. Bard (NYSE:BCR) last released its earnings results on Thursday, July 27th. The medical instruments supplier reported $2.92 EPS for the quarter, topping the consensus estimate of $2.84 by $0.08. C.R. Bard had a return on equity of 48.70% and a net margin of 14.99%. The business had revenue of $979.70 million during the quarter, compared to analysts’ expectations of $976.53 million. During the same quarter last year, the firm posted $2.54 earnings per share. The firm’s revenue was up 5.2% on a year-over-year basis. On average, equities research analysts predict that C.R. Bard, Inc. will post $11.84 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, August 4th. Investors of record on Monday, July 24th were paid a dividend of $0.26 per share. The ex-dividend date was Thursday, July 20th. This represents a $1.04 annualized dividend and a yield of 0.33%. C.R. Bard’s dividend payout ratio is currently 13.67%.
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A number of research firms recently commented on BCR. BidaskClub downgraded shares of C.R. Bard from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. Jefferies Group LLC restated a “hold” rating on shares of C.R. Bard in a research report on Thursday, August 3rd. Zacks Investment Research cut shares of C.R. Bard from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Finally, BMO Capital Markets restated a “hold” rating and set a $317.00 target price on shares of C.R. Bard in a research report on Tuesday, July 11th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Hold” and an average price target of $285.67.
In related news, insider John P. Groetelaars sold 23,687 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $318.73, for a total transaction of $7,549,757.51. Following the completion of the sale, the insider now owns 31,445 shares of the company’s stock, valued at $10,022,464.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.80% of the company’s stock.
C.R. Bard Company Profile
C. R. Bard, Inc (Bard) is engaged in designing, manufacturing, packaging, distribution and sale of medical, surgical, diagnostic and patient care devices. The Company operates through the manufacture and sale of medical devices segment. It sells a range of products to hospitals, individual healthcare professionals, extended care facilities and alternate site facilities on a global basis.
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