New York State Teachers Retirement System trimmed its holdings in shares of C.R. Bard, Inc. (NYSE:BCR) by 2.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 121,971 shares of the medical instruments supplier’s stock after selling 2,884 shares during the quarter. New York State Teachers Retirement System owned approximately 0.17% of C.R. Bard worth $39,092,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of BCR. Leucadia National Corp acquired a new stake in C.R. Bard in the second quarter valued at approximately $13,184,000. Vivaldi Asset Management LLC acquired a new stake in C.R. Bard in the second quarter valued at approximately $57,965,000. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in C.R. Bard by 12.3% in the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 16,951 shares of the medical instruments supplier’s stock valued at $5,358,000 after acquiring an additional 1,859 shares in the last quarter. Artemis Investment Management LLP boosted its stake in C.R. Bard by 33.4% in the second quarter. Artemis Investment Management LLP now owns 41,313 shares of the medical instruments supplier’s stock valued at $13,068,000 after acquiring an additional 10,354 shares in the last quarter. Finally, Sirios Capital Management L P acquired a new stake in C.R. Bard in the second quarter valued at approximately $71,393,000. 79.27% of the stock is currently owned by institutional investors.
C.R. Bard (NYSE:BCR) last issued 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 business had revenue of $989.80 million during the quarter, compared to analysts’ expectations of $990.64 million. During the same quarter in the prior year, the business posted $2.64 EPS. The company’s revenue for the quarter was up 5.1% on a year-over-year basis.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 8th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.31%. The ex-dividend date is Thursday, December 7th. C.R. Bard’s payout ratio is 13.70%.
BCR has been the subject of several recent analyst reports. Zacks Investment Research upgraded shares of C.R. Bard from a “hold” rating to a “buy” rating and set a $360.00 target price for the company in a research note on Monday, July 31st. Jefferies Group LLC restated a “hold” rating on shares of C.R. Bard in a research note on Thursday, August 3rd. BidaskClub downgraded shares of C.R. Bard from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. BMO Capital Markets restated a “hold” rating and issued a $317.00 target price on shares of C.R. Bard in a research note on Tuesday, July 11th. Finally, Needham & Company LLC restated a “hold” rating on shares of C.R. Bard in a research note on Thursday, October 26th. One 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’s stock. C.R. Bard presently has an average rating of “Hold” and an average price target of $292.00.
In other news, insider John P. Groetelaars sold 23,687 shares of the company’s 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 owns 31,445 shares in the company, valued at approximately $10,022,464.85. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Betty D. Larson sold 5,906 shares of the company’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 approximately $3,550,210.48. The disclosure for this sale can be found here. In the last 90 days, insiders sold 136,568 shares of company stock valued at $43,932,079. Company insiders own 0.80% of the company’s stock.
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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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