Canada Pension Plan Investment Board boosted its position in C.R. Bard, Inc. (NYSE:BCR) by 342.3% during the second quarter, Holdings Channel reports. The fund owned 277,768 shares of the medical instruments supplier’s stock after buying an additional 214,968 shares during the period. Canada Pension Plan Investment Board’s holdings in C.R. Bard were worth $87,805,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. Granite Investment Advisors LLC boosted its stake in shares of C.R. Bard by 14.3% in the first quarter. Granite Investment Advisors LLC now owns 33,276 shares of the medical instruments supplier’s stock worth $8,270,000 after buying an additional 4,159 shares during the last quarter. Quantitative Systematic Strategies LLC purchased a new stake in shares of C.R. Bard during the first quarter worth about $219,000. Nisa Investment Advisors LLC boosted its stake in shares of C.R. Bard by 0.8% in the first quarter. Nisa Investment Advisors LLC now owns 15,615 shares of the medical instruments supplier’s stock worth $3,881,000 after buying an additional 125 shares during the last quarter. Cribstone Capital Management LLC purchased a new stake in shares of C.R. Bard during the first quarter worth about $130,000. Finally, Fox Run Management L.L.C. purchased a new stake in shares of C.R. Bard during the first quarter worth about $596,000. Institutional investors and hedge funds own 85.32% of the company’s stock.
Shares of C.R. Bard, Inc. (BCR) opened at 318.63 on Thursday. The firm has a market capitalization of $23.16 billion, a price-to-earnings ratio of 41.83 and a beta of 0.59. The company’s 50 day moving average price is $318.77 and its 200 day moving average price is $282.55. C.R. Bard, Inc. has a 52-week low of $203.63 and a 52-week high of $323.27.
C.R. Bard (NYSE:BCR) last announced its quarterly earnings data on Thursday, July 27th. The medical instruments supplier reported $2.92 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.84 by $0.08. C.R. Bard had a return on equity of 48.70% and a net margin of 14.99%. The company had revenue of $979.70 million for the quarter, compared to analyst estimates of $976.53 million. During the same quarter last year, the firm earned $2.54 EPS. C.R. Bard’s revenue for the quarter was up 5.2% compared to the same quarter last year. Analysts forecast that C.R. Bard, Inc. will post $11.84 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 4th. Stockholders of record on Monday, July 24th were issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.33%. The ex-dividend date was Thursday, July 20th. C.R. Bard’s payout ratio is presently 13.67%.
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A number of analysts have recently issued reports on the company. Jefferies Group LLC reiterated a “hold” rating on shares of C.R. Bard in a report on Thursday, August 3rd. Zacks Investment Research cut C.R. Bard from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. BidaskClub cut C.R. Bard from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 19th. Finally, BMO Capital Markets restated a “hold” rating and issued a $317.00 price target on shares of C.R. Bard in a report on Tuesday, July 11th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has given a buy rating and one has issued 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.
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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