Alpine Global Management LLC Acquires New Holdings in C.R. Bard, Inc. (BCR)
Alpine Global Management LLC acquired a new stake in shares of C.R. Bard, Inc. (NYSE:BCR) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 38,485 shares of the medical instruments supplier’s stock, valued at approximately $12,165,000. C.R. Bard accounts for approximately 3.8% of Alpine Global Management LLC’s investment portfolio, making the stock its 6th largest holding. Alpine Global Management LLC owned 0.05% of C.R. Bard as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in C.R. Bard by 2.7% during the first quarter. Vanguard Group Inc. now owns 7,881,464 shares of the medical instruments supplier’s stock valued at $1,958,858,000 after purchasing an additional 205,186 shares during the period. BlackRock Inc. grew its holdings in C.R. Bard by 1,365.7% during the first quarter. BlackRock Inc. now owns 7,398,081 shares of the medical instruments supplier’s stock valued at $1,838,719,000 after purchasing an additional 6,893,346 shares during the period. State Street Corp grew its holdings in C.R. Bard by 3.5% during the first quarter. State Street Corp now owns 3,831,621 shares of the medical instruments supplier’s stock valued at $952,313,000 after purchasing an additional 128,045 shares during the period. Farallon Capital Management LLC bought a new position in C.R. Bard during the second quarter valued at $463,101,000. Finally, Renaissance Technologies LLC grew its holdings in C.R. Bard by 35.4% during the second quarter. Renaissance Technologies LLC now owns 1,295,600 shares of the medical instruments supplier’s stock valued at $409,552,000 after purchasing an additional 338,900 shares during the period. 79.22% of the stock is owned by institutional investors and hedge funds.
Several equities analysts have weighed in on the company. Jefferies Group LLC reissued a “hold” rating on shares of C.R. Bard in a report on Thursday, August 3rd. BidaskClub raised C.R. Bard from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 8th. Zacks Investment Research lowered C.R. Bard from a “buy” rating to a “hold” rating in a report on Monday, July 17th. Finally, BMO Capital Markets reissued a “hold” rating and set a $317.00 price objective 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 and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $292.00.
C.R. Bard, Inc. (NYSE:BCR) traded down 0.22% during midday trading on Monday, hitting $321.29. The company’s stock had a trading volume of 76,285 shares. The company’s 50 day moving average price is $320.00 and its 200 day moving average price is $305.05. The firm has a market cap of $23.35 billion, a P/E ratio of 42.18 and a beta of 0.59. C.R. Bard, Inc. has a 12 month low of $203.63 and a 12 month high of $324.58.
C.R. Bard (NYSE:BCR) last issued its quarterly earnings data on Thursday, July 27th. The medical instruments supplier reported $2.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $979.70 million during the quarter, compared to the consensus estimate of $976.53 million. During the same quarter in the previous year, the firm posted $2.54 EPS. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. Analysts expect that C.R. Bard, Inc. will post $11.81 EPS for the current year.
In other news, insider Sharon M. Luboff sold 30,252 shares of the business’s stock in a transaction on Friday, September 29th. The shares were sold at an average price of $320.00, for a total transaction of $9,680,640.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John P. Groetelaars sold 23,687 shares of the business’s 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 directly owns 31,445 shares of the company’s stock, valued at approximately $10,022,464.85. The disclosure for this sale can be found here. Insiders own 0.80% of the company’s stock.
C.R. Bard Profile
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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