Eagle Ridge Investment Management Has $7.82 Million Stake in C.R. Bard, Inc. (NYSE:BCR)
Eagle Ridge Investment Management cut its stake in C.R. Bard, Inc. (NYSE:BCR) by 2.5% during the second quarter, according to its most recent filing with the SEC. The firm owned 24,731 shares of the medical instruments supplier’s stock after selling 629 shares during the period. C.R. Bard comprises approximately 1.5% of Eagle Ridge Investment Management’s portfolio, making the stock its 25th largest position. Eagle Ridge Investment Management’s holdings in C.R. Bard were worth $7,818,000 as of its most recent filing with the SEC.
Other hedge funds have also modified their holdings of the company. Teachers Advisors LLC boosted its stake in shares of C.R. Bard by 3.5% in the fourth quarter. Teachers Advisors LLC now owns 134,481 shares of the medical instruments supplier’s stock valued at $30,213,000 after buying an additional 4,500 shares in the last quarter. Macquarie Group Ltd. boosted its position in C.R. Bard by 61.1% in the fourth quarter. Macquarie Group Ltd. now owns 5,800 shares of the medical instruments supplier’s stock worth $1,303,000 after buying an additional 2,200 shares during the period. Chevy Chase Trust Holdings Inc. boosted its position in C.R. Bard by 1.1% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 62,663 shares of the medical instruments supplier’s stock worth $15,574,000 after buying an additional 653 shares during the period. Burns J W & Co. Inc. NY boosted its position in C.R. Bard by 1.3% in the first quarter. Burns J W & Co. Inc. NY now owns 1,581 shares of the medical instruments supplier’s stock worth $393,000 after buying an additional 21 shares during the period. Finally, Contravisory Investment Management Inc. boosted its position in C.R. Bard by 349.2% in the first quarter. Contravisory Investment Management Inc. now owns 548 shares of the medical instruments supplier’s stock worth $136,000 after buying an additional 426 shares during the period. 86.21% of the stock is currently owned by institutional investors.
Shares of C.R. Bard, Inc. (BCR) opened at 318.58 on Friday. C.R. Bard, Inc. has a 52 week low of $203.63 and a 52 week high of $323.27. The company has a market cap of $23.15 billion, a price-to-earnings ratio of 41.82 and a beta of 0.59. The stock’s 50 day moving average is $317.93 and its 200-day moving average is $279.50.
C.R. Bard (NYSE:BCR) last posted its earnings results on Thursday, July 27th. The medical instruments supplier reported $2.92 EPS for the quarter, beating analysts’ consensus estimates of $2.84 by $0.08. The business had revenue of $979.70 million for the quarter, compared to the consensus estimate of $976.53 million. C.R. Bard had a net margin of 14.99% and a return on equity of 48.70%. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter last year, the firm posted $2.54 EPS. On average, equities analysts anticipate that C.R. Bard, Inc. will post $11.79 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, August 4th. Stockholders of record on Monday, July 24th were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.33%. The ex-dividend date of this dividend was Thursday, July 20th. C.R. Bard’s dividend payout ratio is currently 13.67%.
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A number of research firms have recently issued reports on BCR. Cowen and Company increased their price objective on shares of C.R. Bard from $240.00 to $317.00 and gave the stock a “market perform” rating in a research report on Monday, April 24th. BidaskClub upgraded shares of C.R. Bard from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 8th. Zacks Investment Research upgraded shares of C.R. Bard from a “hold” rating to a “buy” rating and set a $351.00 price objective for the company in a research note on Tuesday, June 6th. Jefferies Group LLC increased their price objective on shares of C.R. Bard from $237.00 to $317.00 and gave the company a “hold” rating in a research note on Monday, April 24th. Finally, Wells Fargo & Company lowered shares of C.R. Bard from an “outperform” rating to a “market perform” rating in a research note on Tuesday, April 25th. Eight research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average 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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