Suncoast Equity Management Has $9.94 Million Position in C.R. Bard, Inc. (BCR)

Suncoast Equity Management reduced its holdings in C.R. Bard, Inc. (NYSE:BCR) by 41.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 30,998 shares of the medical instruments supplier’s stock after selling 21,940 shares during the period. C.R. Bard makes up about 2.9% of Suncoast Equity Management’s investment portfolio, making the stock its 20th biggest position. Suncoast Equity Management’s holdings in C.R. Bard were worth $9,935,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Comerica Bank lifted its holdings in C.R. Bard by 6.9% in the third quarter. Comerica Bank now owns 26,081 shares of the medical instruments supplier’s stock valued at $8,525,000 after buying an additional 1,676 shares during the period. DekaBank Deutsche Girozentrale lifted its holdings in C.R. Bard by 2.7% in the third quarter. DekaBank Deutsche Girozentrale now owns 43,925 shares of the medical instruments supplier’s stock valued at $14,195,000 after buying an additional 1,168 shares during the period. Teacher Retirement System of Texas lifted its holdings in C.R. Bard by 30.9% in the third quarter. Teacher Retirement System of Texas now owns 986 shares of the medical instruments supplier’s stock valued at $316,000 after buying an additional 233 shares during the period. Rhumbline Advisers lifted its holdings in C.R. Bard by 1.5% in the third quarter. Rhumbline Advisers now owns 150,150 shares of the medical instruments supplier’s stock valued at $48,123,000 after buying an additional 2,275 shares during the period. Finally, Advisor Group Inc. lifted its holdings in C.R. Bard by 3.9% in the third quarter. Advisor Group Inc. now owns 8,053 shares of the medical instruments supplier’s stock valued at $2,581,000 after buying an additional 304 shares during the period. Institutional investors and hedge funds own 78.27% of the company’s stock.

Several equities analysts recently weighed in on BCR shares. Zacks Investment Research lowered shares of C.R. Bard from a “buy” rating to a “hold” rating in a report on Monday, July 17th. BidaskClub lowered shares of C.R. Bard from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 19th. Needham & Company LLC reaffirmed a “hold” rating on shares of C.R. Bard in a research note on Thursday, October 26th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $317.00 target price on shares of C.R. Bard in a research note on Thursday, September 14th. Finally, Cowen and Company reaffirmed a “hold” rating and issued a $317.00 target price on shares of C.R. Bard in a research note on Friday, November 3rd. One analyst has rated the stock with a sell rating, eight have given a hold rating and one has assigned a strong buy rating to the company. The company has an average rating of “Hold” and an average price target of $303.50.

Shares of C.R. Bard, Inc. (NYSE BCR) traded up $1.19 during mid-day trading on Tuesday, hitting $333.08. 319,700 shares of the stock traded hands, compared to its average volume of 668,574. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.72 and a quick ratio of 1.37. C.R. Bard, Inc. has a 52 week low of $203.63 and a 52 week high of $335.84. The company has a market capitalization of $24,192.25, a P/E ratio of 28.66, a price-to-earnings-growth ratio of 2.54 and a beta of 0.53.

C.R. Bard (NYSE:BCR) last issued its quarterly earnings data on Wednesday, October 25th. The medical instruments supplier reported $3.02 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 company had revenue of $989.80 million during the quarter, compared to the consensus estimate of $990.64 million. During the same quarter in the prior year, the firm earned $2.64 earnings per share. The firm’s revenue was up 5.1% compared to the same quarter last year. sell-side analysts predict that C.R. Bard, Inc. will post 11.89 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 8th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.31%. The ex-dividend date of this dividend is Thursday, December 7th. C.R. Bard’s dividend payout ratio is 13.70%.

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In other news, VP Betty D. Larson sold 5,906 shares of the 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 sale, the vice president now owns 10,753 shares of the company’s stock, valued at $3,550,210.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David M. Barrett sold 3,344 shares of the stock in a transaction on Monday, October 30th. The stock was sold at an average price of $327.31, for a total transaction of $1,094,524.64. The disclosure for this sale can be found here. Insiders have sold 191,593 shares of company stock valued at $62,655,513 in the last three months. 0.80% of the stock is owned by insiders.

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.

Institutional Ownership by Quarter for C.R. Bard (NYSE:BCR)

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