Pitcairn Co. Sells 1,022 Shares of C.R. Bard, Inc. (BCR)
Pitcairn Co. cut its position in shares of C.R. Bard, Inc. (NYSE:BCR) by 48.6% during the second quarter, Holdings Channel reports. The institutional investor owned 1,080 shares of the medical instruments supplier’s stock after selling 1,022 shares during the period. Pitcairn Co.’s holdings in C.R. Bard were worth $342,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Nicolet Bankshares Inc. raised its position in C.R. Bard by 477.9% in the first quarter. Nicolet Bankshares Inc. now owns 2,011 shares of the medical instruments supplier’s stock worth $500,000 after buying an additional 1,663 shares in the last quarter. Candriam Luxembourg S.C.A. raised its position in C.R. Bard by 31.2% in the first quarter. Candriam Luxembourg S.C.A. now owns 5,262 shares of the medical instruments supplier’s stock worth $1,308,000 after buying an additional 1,252 shares in the last quarter. Diversified Trust Co raised its position in C.R. Bard by 8.2% in the first quarter. Diversified Trust Co now owns 987 shares of the medical instruments supplier’s stock worth $245,000 after buying an additional 75 shares in the last quarter. State of Alaska Department of Revenue acquired a new position in C.R. Bard during the first quarter worth $1,929,000. Finally, Huntington National Bank raised its position in C.R. Bard by 8.4% in the first quarter. Huntington National Bank now owns 16,411 shares of the medical instruments supplier’s stock worth $4,079,000 after buying an additional 1,278 shares in 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 320.83 on Wednesday. C.R. Bard, Inc. has a 12-month low of $203.63 and a 12-month high of $323.27. The stock’s 50 day moving average is $319.27 and its 200-day moving average is $285.48. The company has a market capitalization of $23.32 billion, a P/E ratio of 42.12 and a beta of 0.59.
C.R. Bard (NYSE:BCR) last posted its earnings results on Thursday, July 27th. The medical instruments supplier reported $2.92 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.84 by $0.08. The company had revenue of $979.70 million during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period last year, the company posted $2.54 earnings per share. Analysts anticipate that C.R. Bard, Inc. will post $11.82 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 4th. Shareholders of record on Monday, July 24th were paid a $0.26 dividend. The ex-dividend date was Thursday, July 20th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.32%. C.R. Bard’s payout ratio is currently 13.67%.
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BCR has been the subject of a number of recent analyst reports. Jefferies Group LLC restated a “hold” rating on shares of C.R. Bard in a research report on Thursday, August 3rd. Zacks Investment Research lowered shares of C.R. Bard from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. BidaskClub lowered shares of C.R. Bard from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 19th. Finally, BMO Capital Markets restated a “hold” rating and set a $317.00 price target 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 given a buy rating and one has given a strong buy rating to the company’s stock. C.R. Bard currently has a consensus rating of “Hold” and a consensus target price of $285.67.
In other C.R. Bard news, insider John P. Groetelaars sold 23,687 shares of C.R. Bard stock in a transaction on 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 completion of 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 accessible through 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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