First Manhattan Co. reduced its stake in C.R. Bard, Inc. (NYSE:BCR) by 4.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,247 shares of the medical instruments supplier’s stock after selling 637 shares during the period. First Manhattan Co.’s holdings in C.R. Bard were worth $4,566,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in BCR. Farallon Capital Management LLC bought a new position in C.R. Bard in the second quarter worth about $463,101,000. Alpine Associates Management Inc. bought a new position in C.R. Bard in the second quarter worth about $265,663,000. Pentwater Capital Management LP bought a new position in C.R. Bard in the second quarter worth about $139,088,000. York Capital Management Global Advisors LLC bought a new position in C.R. Bard in the second quarter worth about $122,678,000. Finally, CNH Partners LLC bought a new position in C.R. Bard in the second quarter worth about $116,100,000. 79.27% of the stock is owned by institutional investors.
In related news, Director David M. Barrett sold 3,344 shares of the business’s stock in a transaction on Monday, October 30th. The shares were sold at an average price of $327.31, for a total value of $1,094,524.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Betty D. Larson sold 5,906 shares of the business’s stock in a transaction on Friday, October 20th. The shares were sold at an average price of $330.16, for a total transaction of $1,949,924.96. Following the completion of the transaction, the vice president now owns 10,753 shares of the company’s stock, valued at $3,550,210.48. The disclosure for this sale can be found here. Over the last quarter, insiders sold 136,568 shares of company stock valued at $43,932,079. Company insiders own 0.80% of the company’s stock.
C.R. Bard (NYSE:BCR) last posted its earnings results on Wednesday, October 25th. The medical instruments supplier reported $3.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.96 by $0.06. C.R. Bard had a net margin of 14.75% and a return on equity of 48.28%. The firm had revenue of $989.80 million during the quarter, compared to analysts’ expectations of $990.64 million. During the same period in the previous year, the business posted $2.64 EPS. The business’s revenue was up 5.1% compared to the same quarter last year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 8th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.32%. The ex-dividend date of this dividend is Thursday, December 7th. C.R. Bard’s dividend payout ratio is currently 13.70%.
A number of research firms recently issued reports on BCR. Needham & Company LLC reissued a “hold” rating on shares of C.R. Bard in a research note on Thursday, October 26th. Jefferies Group LLC restated a “hold” rating on shares of C.R. Bard in a report on Thursday, August 3rd. Zacks Investment Research cut shares of C.R. Bard from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. BidaskClub cut shares of C.R. Bard from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 19th. Finally, BMO Capital Markets reiterated a “hold” rating and set a $317.00 price target on shares of C.R. Bard in a report on Tuesday, July 11th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and one has given a strong buy rating to the company. C.R. Bard has an average rating of “Hold” and an average price target of $292.00.
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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