C.R. Bard, Inc. (BCR) Stake Maintained by Penobscot Investment Management Company Inc.
Penobscot Investment Management Company Inc. maintained its position in shares of C.R. Bard, Inc. (NYSE:BCR) during the second quarter, according to its most recent filing with the SEC. The firm owned 3,495 shares of the medical instruments supplier’s stock at the end of the second quarter. Penobscot Investment Management Company Inc.’s holdings in C.R. Bard were worth $1,105,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in BCR. Macquarie Group Ltd. increased its position in shares of C.R. Bard by 61.1% in the fourth quarter. Macquarie Group Ltd. now owns 5,800 shares of the medical instruments supplier’s stock valued at $1,303,000 after buying an additional 2,200 shares during the last quarter. Fox Run Management L.L.C. acquired a new position in shares of C.R. Bard during the first quarter valued at approximately $596,000. Nisa Investment Advisors LLC increased its position in shares of C.R. Bard by 0.8% in the first quarter. Nisa Investment Advisors LLC now owns 15,615 shares of the medical instruments supplier’s stock valued at $3,881,000 after buying an additional 125 shares during the last quarter. Quantitative Systematic Strategies LLC acquired a new position in shares of C.R. Bard during the first quarter valued at approximately $219,000. Finally, Granite Investment Advisors LLC increased its position in shares of C.R. Bard by 14.3% in the first quarter. Granite Investment Advisors LLC now owns 33,276 shares of the medical instruments supplier’s stock valued at $8,270,000 after buying an additional 4,159 shares during the last quarter. Institutional investors and hedge funds own 77.14% of the company’s stock.
Shares of C.R. Bard, Inc. (NYSE:BCR) opened at 319.16 on Friday. The company has a market capitalization of $23.19 billion, a PE ratio of 41.90 and a beta of 0.59. C.R. Bard, Inc. has a 52 week low of $203.63 and a 52 week high of $323.27. The firm’s 50-day moving average price is $319.48 and its 200 day moving average price is $285.97.
C.R. Bard (NYSE:BCR) last issued its quarterly earnings results on Thursday, July 27th. The medical instruments supplier reported $2.92 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.84 by $0.08. The firm had revenue of $979.70 million for the quarter, compared to analyst estimates of $976.53 million. C.R. Bard had a net margin of 14.99% and a return on equity of 48.70%. C.R. Bard’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period last year, the company posted $2.54 EPS. Equities analysts predict that C.R. Bard, Inc. will post $11.82 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, August 4th. Investors of record on Monday, July 24th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.33%. The ex-dividend date was Thursday, July 20th. C.R. Bard’s dividend payout ratio is presently 13.67%.
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BCR has been the topic of several research analyst reports. Jefferies Group LLC boosted their price objective on C.R. Bard from $237.00 to $317.00 and gave the company a “hold” rating in a research report on Monday, April 24th. Cowen and Company lifted their target price on C.R. Bard from $240.00 to $317.00 and gave the stock a “market perform” rating in a report on Monday, April 24th. Morgan Stanley cut C.R. Bard from an “overweight” rating to an “equal weight” rating in a report on Monday, April 24th. BMO Capital Markets cut C.R. Bard from an “outperform” rating to a “market perform” rating and set a $245.00 target price on the stock. in a report on Tuesday, April 25th. Finally, Raymond James Financial, Inc. reaffirmed a “market perform” rating and issued a $265.00 target price on shares of C.R. Bard in a report on Tuesday, April 25th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. C.R. Bard currently has an average rating of “Hold” and a consensus target price of $285.67.
In related news, insider John P. Groetelaars sold 23,687 shares of the firm’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $318.73, for a total value of $7,549,757.51. Following the transaction, the insider now directly owns 31,445 shares of the company’s stock, valued at approximately $10,022,464.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.80% of the company’s stock.
About C.R. Bard
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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