Addenda Capital Inc. Trims Stake in Becton, Dickinson and Company $BDX

Key Points

• Addenda Capital Inc. reduced its stake in Becton, Dickinson and Company by 49.0%, selling 7,947 shares and holding 8,274 shares valued at $1,425,000.
• The company reported a 10.4% year-over-year revenue increase for the last quarter, with earnings per share beating estimates at $3.68 against a consensus of $3.40.
• Becton, Dickinson's recent quarterly dividend of $1.04 represents an annualized amount of $4.16, yielding 2.3%, with a payout ratio of 74.82%.

Addenda Capital Inc. lowered its stake in Becton, Dickinson and Company (NYSE:BDX - Free Report) by 49.0% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,274 shares of the medical instruments supplier's stock after selling 7,947 shares during the period. Addenda Capital Inc.'s holdings in Becton, Dickinson and Company were worth $1,425,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Camelot Portfolios LLC purchased a new stake in shares of Becton, Dickinson and Company during the 2nd quarter worth about $647,000. Argus Investors Counsel Inc. lifted its holdings in shares of Becton, Dickinson and Company by 19.9% in the second quarter. Argus Investors Counsel Inc. now owns 2,530 shares of the medical instruments supplier's stock valued at $436,000 after purchasing an additional 420 shares in the last quarter. Fort Washington Investment Advisors Inc. OH increased its position in Becton, Dickinson and Company by 11.2% during the second quarter. Fort Washington Investment Advisors Inc. OH now owns 887,913 shares of the medical instruments supplier's stock worth $152,943,000 after purchasing an additional 89,559 shares during the last quarter. Avior Wealth Management LLC boosted its stake in Becton, Dickinson and Company by 2,934.1% during the 2nd quarter. Avior Wealth Management LLC now owns 7,919 shares of the medical instruments supplier's stock valued at $1,364,000 after acquiring an additional 7,658 shares during the last quarter. Finally, RBA Wealth Management LLC increased its holdings in shares of Becton, Dickinson and Company by 5.3% in the 2nd quarter. RBA Wealth Management LLC now owns 23,115 shares of the medical instruments supplier's stock worth $3,982,000 after acquiring an additional 1,163 shares during the period. Hedge funds and other institutional investors own 86.97% of the company's stock.

Becton, Dickinson and Company Stock Performance

Shares of Becton, Dickinson and Company stock opened at $184.59 on Friday. Becton, Dickinson and Company has a 1 year low of $163.33 and a 1 year high of $251.99. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.62 and a current ratio of 1.10. The firm has a market cap of $52.91 billion, a PE ratio of 33.20, a price-to-earnings-growth ratio of 1.49 and a beta of 0.27. The firm's 50-day simple moving average is $188.27 and its 200-day simple moving average is $188.72.

Becton, Dickinson and Company (NYSE:BDX - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The medical instruments supplier reported $3.68 earnings per share for the quarter, beating analysts' consensus estimates of $3.40 by $0.28. Becton, Dickinson and Company had a net margin of 7.51% and a return on equity of 16.23%. The business had revenue of $5.51 billion for the quarter, compared to the consensus estimate of $5.50 billion. During the same quarter last year, the firm earned $3.50 EPS. Becton, Dickinson and Company's revenue for the quarter was up 10.4% on a year-over-year basis. Becton, Dickinson and Company has set its FY 2025 guidance at 14.300-14.450 EPS. Equities analysts forecast that Becton, Dickinson and Company will post 14.43 earnings per share for the current fiscal year.

Becton, Dickinson and Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 8th will be given a $1.04 dividend. The ex-dividend date is Monday, September 8th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 2.3%. Becton, Dickinson and Company's payout ratio is 74.82%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Wall Street Zen raised shares of Becton, Dickinson and Company from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Argus lifted their price objective on Becton, Dickinson and Company from $220.00 to $230.00 in a research note on Monday, September 15th. Morgan Stanley increased their price objective on Becton, Dickinson and Company from $196.00 to $197.00 and gave the stock an "overweight" rating in a report on Monday, August 11th. Barclays lowered their target price on Becton, Dickinson and Company from $261.00 to $241.00 and set an "overweight" rating for the company in a research note on Tuesday, June 3rd. Finally, Royal Bank Of Canada initiated coverage on Becton, Dickinson and Company in a research note on Thursday. They set a "sector perform" rating and a $211.00 price target for the company. Four equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $213.09.

Insider Activity

In other Becton, Dickinson and Company news, EVP Michael David Garrison sold 1,185 shares of the stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $180.29, for a total transaction of $213,643.65. Following the completion of the transaction, the executive vice president owned 4,887 shares in the company, valued at $881,077.23. This trade represents a 19.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Claire Fraser sold 917 shares of Becton, Dickinson and Company stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $187.50, for a total transaction of $171,937.50. Following the completion of the transaction, the director directly owned 22,226 shares in the company, valued at approximately $4,167,375. The trade was a 3.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,965 shares of company stock valued at $551,536. 0.36% of the stock is currently owned by corporate insiders.

About Becton, Dickinson and Company

Becton, Dickinson and Company develops, manufactures, and sells medical supplies, devices, laboratory equipment, and diagnostic products for healthcare institutions, physicians, life science researchers, clinical laboratories, pharmaceutical industry, and the general public worldwide. The company operates in three segments: BD Medical, BD Life Sciences, and BD Interventional.

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