The Yacktman Focused Fund Sells Out of C.R. Bard Inc.

C.R. Bard reached its 52-week high during the second quarter

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Jul 19, 2016
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During the second quarter, the Yacktman (Trades, Portfolio) Focused Fund sold out its remaining 140,000 shares of C.R Bard (BCR, Financial) at at an average price of $216.98. The Yacktman (Trades, Portfolio) Focused Fund saw a 66% increase in its investment in C.R. Bard Inc. since the first quarter of 2011.

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C.R. Bard Inc. was originally founded in 1907 by Charles Russell Bard. The company became publicly traded in 1963, and it began trading on the New York Stock Exchange in 1968. C.R. Bard is headquartered in Murray Hill, New Jersey. The company is a leading multinational developer, manufacturer, and marketer of medical technologies in the fields of vascular, urology, oncology and surgical specialties. C.R. Bard currently employs approximately 15,000 employees worldwide.

C.R. Bard has a market cap of $17.04 billion, a P/E ratio of 163.69, an enterprise value of $17.95 billion and a P/B ratio of 11.65.

In the fourth quarter of 2015, Donald Yacktman (Trades, Portfolio) commented on C.R. Bard: "C.R. Bard (NYSE:BCR) was a solid performer in the third quarter. As a result, we reduced the Fund’s position size in Bard."

The Donald Yacktman (Trades, Portfolio) focused fund may have sold out its holding in C.R Bard because the company hit its 52-week high in price during the second quarter. The hedge fund sold out his remaining 140,000 shares at an average price of $216.98. Since 2011, C.R Bard generated a solid 66% return for the fund. It’s possible that The Yacktman Focused Fund (Trades, Portfolio) sold out its holdings because they believed the share price had reached its plateau, and it wanted to cash in its profits.

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Disclosure: author does not own any shares of this company.

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