Timothy Ring (Insider Trades), CEO and Chairman of C.R. Bard Inc. (BCR), sold 92,293 shares of the company on Sept. 28, 2016. The average price per share was $227.81, for a total transaction of $21,025,268. C.R. Bard, a multinational developer, manufacturer and marketer of innovative, life-enhancing medical technologies in vascular, urology, oncology and surgical specialty products, has a market cap of $16.47 billion.
Including the aforementioned transaction, Ring sold a total of 1,022,237 shares of the company in 51 transactions since the beginning of 2013. Ring’s earliest insider sell of 10,162 shares at an average price of $99.88 per share has increased in value by about 124% since the date of transaction. The total volume of insider shares sold per year decreased each year since 2013. There were 67 BCR insider sells totaling 2,179,832 shares in 2013, and 53 insider sells totaling 743,257 shares in the following year. The number of insider sells increased to 56 in 2015. However, the total number of insider shares sold decreased to 572,454. Ring contributed to 202,293 shares of the 375,771 total insider shares sold in 2016 to date. For more information about insider trades with BCR, click here.
The company reported net sales of $931.5 million in the second quarter ended June 30, 2016. Net sales income is up from $859.8 million reported in the previous year’s second quarter. Net loss also increased from $54.7 million, or 74 cents per share, to $159.2 net income of million, or $2.14 per share, when comparing the same periods of time.
Ring commented that the company sees “strong results as [they] prioritize product leadership across the globe.” The company announced the U.S. Food and Drug Administration (FDA) approved an Investigational Device Exemption (IDE) supplemental application to modify the primary endpoint to a six-month time point for the Lutonix 014 Drug Coated Balloon PTA Catheter (DCB). The Lutonix is currently the only DCB in an IDE clinical trial in the U.S. for treatment of arteries below the knee. The clinical trial is evaluating the use of the device as treatment of stenosis or occlusion of native below the knee arteries with a cumulative lesion length up to 320 mm with reference vessel diameters of 2 mm to 4 mm.
According to GuruFocus.com information, C.R. Bard Inc. has a business predictability rank of 2 out of 5 stars. For more information about business predictability rank, click here.
Paul Tudor Jones (Trades, Portfolio) and Jim Simons (Trades, Portfolio) both reduced their stake in BCR during the second quarter of 2016. Jones decreased his stake by 99.51%, selling 224,800 shares at an average per share price of $217.21. Jones increased his stake by 86.97% and 45.76% at an average per share price of $187.31 and $188.71 in the fourth quarter of 2015 and first quarter of 2016, respectively. The total estimated gain of the holding since the fourth quarter of 2013 is about 17%. Simons reduced his stake in BCR by 21.55%, selling 292,100 shares of the company after previously increasing his stake in BCR by 23.38%. The total estimated gain of the holding since the first quarter of 2011 is about 31%. For more information about guru trades with BCR, click here.
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