Pinnacle Associates Ltd. Continues to Hold Stake in C.R. Bard, Inc. (BCR)

Pinnacle Associates Ltd. continued to hold its position in C.R. Bard, Inc. (NYSE:BCR) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,000 shares of the medical instruments supplier’s stock at the end of the second quarter. Pinnacle Associates Ltd.’s holdings in C.R. Bard were worth $316,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of BCR. BlackRock Inc. boosted its position in shares of C.R. Bard by 1,365.7% in the first quarter. BlackRock Inc. now owns 7,398,081 shares of the medical instruments supplier’s stock worth $1,838,719,000 after purchasing an additional 6,893,346 shares during the period. MARSHALL WACE ASIA Ltd bought a new position in shares of C.R. Bard during the first quarter worth $132,062,000. Marshall Wace North America L.P. bought a new position in shares of C.R. Bard during the first quarter worth $132,062,000. Renaissance Technologies LLC boosted its position in shares of C.R. Bard by 87.8% during the first quarter. Renaissance Technologies LLC now owns 956,700 shares of the medical instruments supplier’s stock worth $237,778,000 after acquiring an additional 447,300 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its position in shares of C.R. Bard by 267.0% during the first quarter. Alliancebernstein L.P. now owns 491,184 shares of the medical instruments supplier’s stock worth $122,079,000 after acquiring an additional 357,355 shares during the last quarter. Institutional investors and hedge funds own 79.34% of the company’s stock.

Shares of C.R. Bard, Inc. (NYSE BCR) opened at 323.91 on Friday. The stock has a market cap of $23.54 billion, a P/E ratio of 42.52 and a beta of 0.60. C.R. Bard, Inc. has a 1-year low of $203.63 and a 1-year high of $324.13. The company’s 50-day moving average is $320.21 and its 200-day moving average is $294.66.

C.R. Bard (NYSE:BCR) last announced its earnings results on Thursday, July 27th. The medical instruments supplier reported $2.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.84 by $0.08. C.R. Bard had a net margin of 14.99% and a return on equity of 48.70%. The company had revenue of $979.70 million for the quarter, compared to analysts’ expectations of $976.53 million. During the same quarter in the previous year, the company posted $2.54 EPS. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. Equities analysts expect that C.R. Bard, Inc. will post $11.84 EPS for the current fiscal year.

In other C.R. Bard news, insider John P. Groetelaars sold 23,687 shares of C.R. Bard stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $318.73, for a total transaction of $7,549,757.51. Following the sale, the insider now owns 31,445 shares of the company’s stock, valued at approximately $10,022,464.85. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.80% of the company’s stock.

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A number of brokerages recently weighed in on BCR. BidaskClub upgraded shares of C.R. Bard from a “buy” rating to a “strong-buy” rating in a research report 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 target price for the company in a research report on Tuesday, June 6th. BMO Capital Markets restated a “hold” rating and set a $317.00 target price on shares of C.R. Bard in a research report on Tuesday, July 11th. Finally, Jefferies Group LLC restated a “hold” rating on shares of C.R. Bard in a research report on Thursday, August 3rd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average 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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Institutional Ownership by Quarter for C.R. Bard (NYSE:BCR)

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