First Citizens Bank & Trust Co. reduced its position in C.R. Bard Inc. (NYSE:BCR) by 11.9% during the second quarter, Holdings Channel reports. The firm owned 3,290 shares of the company’s stock after selling 446 shares during the period. First Citizens Bank & Trust Co.’s holdings in C.R. Bard were worth $774,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently added to or reduced their stakes in BCR. Standard Life Investments LTD purchased a new stake in C.R. Bard during the second quarter worth $241,642,000. JPMorgan Chase & Co. boosted its stake in C.R. Bard by 353.4% in the first quarter. JPMorgan Chase & Co. now owns 667,533 shares of the company’s stock worth $135,290,000 after buying an additional 520,319 shares during the period. Bank of Montreal Can purchased a new stake in C.R. Bard during the second quarter worth $96,292,000. Renaissance Technologies LLC boosted its stake in C.R. Bard by 23.4% in the first quarter. Renaissance Technologies LLC now owns 1,355,300 shares of the company’s stock worth $274,679,000 after buying an additional 256,800 shares during the period. Finally, Adage Capital Partners GP L.L.C. purchased a new stake in C.R. Bard during the first quarter worth $22,334,000. 87.90% of the stock is currently owned by institutional investors and hedge funds.
Shares of C.R. Bard Inc. (NYSE:BCR) traded up 0.39% on Thursday, hitting $218.68. 269,933 shares of the company’s stock traded hands. The company has a market cap of $16.06 billion, a price-to-earnings ratio of 50.86 and a beta of 0.50. The firm’s 50-day moving average price is $222.08 and its 200 day moving average price is $220.63. C.R. Bard Inc. has a 1-year low of $172.21 and a 1-year high of $239.43.
C.R. Bard (NYSE:BCR) last issued its quarterly earnings results on Tuesday, July 26th. The company reported $2.54 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.47 by $0.07. The business had revenue of $931.50 million for the quarter, compared to the consensus estimate of $915.22 million. C.R. Bard had a net margin of 9.20% and a return on equity of 48.43%. The firm’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.27 EPS. On average, equities research analysts expect that C.R. Bard Inc. will post $10.17 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 4th. Investors of record on Monday, October 24th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Thursday, October 20th. This represents a $1.04 annualized dividend and a yield of 0.48%. C.R. Bard’s dividend payout ratio (DPR) is 24.24%.
BCR has been the topic of a number of analyst reports. Bank of America Corp. cut shares of C.R. Bard from a “buy” rating to a “neutral” rating in a report on Friday, July 8th. Wells Fargo & Co. raised shares of C.R. Bard from a “market perform” rating to an “outperform” rating in a research note on Friday, September 16th. Zacks Investment Research cut shares of C.R. Bard from a “buy” rating to a “hold” rating in a research note on Thursday, August 4th. Leerink Swann reissued a “market perform” rating and set a $233.00 target price (down previously from $240.00) on shares of C.R. Bard in a research note on Thursday, July 28th. Finally, Jefferies Group reissued a “hold” rating and set a $237.00 target price on shares of C.R. Bard in a research note on Tuesday, September 27th. Thirteen investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $233.00.
In other C.R. Bard news, VP John A. Deford sold 7,928 shares of the business’s stock in a transaction dated Tuesday, September 6th. The stock was sold at an average price of $221.06, for a total transaction of $1,752,563.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Betty D. Larson sold 4,032 shares of the business’s stock in a transaction dated Monday, September 19th. The stock was sold at an average price of $225.33, for a total value of $908,530.56. Following the sale, the vice president now directly owns 10,298 shares of the company’s stock, valued at $2,320,448.34. The disclosure for this sale can be found here. Corporate insiders own 0.97% of the company’s stock.
About C.R. Bard
C. R. Bard, Inc (Bard) and its subsidiaries are engaged in designing, manufacturing, packaging, distribution and sale of medical, surgical, diagnostic and patient care devices. The Company sells its products to hospitals, individual healthcare professionals, extended care facilities and alternate site facilities.