Allstate Corp Boosts Stock Position in Becton, Dickinson and Company $BDX

Key Points

• Allstate Corp increased its stake in Becton, Dickinson and Company by 16.3%, acquiring an additional 1,414 shares, bringing its total holding to 10,101 shares valued at approximately $2.31 million.
• Insider transactions show that executives sold a total of 3,214 shares in the last quarter, reflecting a decrease in their ownership stakes.
• Becton, Dickinson and Company reported earnings per share of $3.68 for its last quarter, exceeding analysts' expectations and showing a significant year-over-year revenue growth of 10.4%.

Allstate Corp boosted its holdings in Becton, Dickinson and Company (NYSE:BDX - Free Report) by 16.3% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 10,101 shares of the medical instruments supplier's stock after purchasing an additional 1,414 shares during the quarter. Allstate Corp's holdings in Becton, Dickinson and Company were worth $2,314,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in BDX. Smallwood Wealth Investment Management LLC acquired a new stake in Becton, Dickinson and Company in the first quarter valued at approximately $27,000. REAP Financial Group LLC boosted its position in shares of Becton, Dickinson and Company by 75.3% during the fourth quarter. REAP Financial Group LLC now owns 128 shares of the medical instruments supplier's stock valued at $29,000 after buying an additional 55 shares during the last quarter. Alpine Bank Wealth Management purchased a new position in shares of Becton, Dickinson and Company during the first quarter valued at approximately $29,000. Cornerstone Planning Group LLC boosted its position in shares of Becton, Dickinson and Company by 341.4% during the first quarter. Cornerstone Planning Group LLC now owns 128 shares of the medical instruments supplier's stock valued at $29,000 after buying an additional 99 shares during the last quarter. Finally, Kelly Lawrence W & Associates Inc. CA purchased a new position in shares of Becton, Dickinson and Company during the first quarter valued at approximately $31,000. Institutional investors and hedge funds own 86.97% of the company's stock.

Insider Buying and Selling

In related news, EVP Michael David Garrison sold 1,185 shares of the business's stock in a transaction dated Friday, July 18th. The stock was 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 directly owned 4,887 shares in the company, valued at $881,077.23. The trade was a 19.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Claire Fraser sold 863 shares of the business's stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $192.30, for a total value of $165,954.90. Following the transaction, the director owned 23,143 shares of the company's stock, valued at approximately $4,450,398.90. The trade was a 3.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,214 shares of company stock worth $579,206 over the last ninety days. 0.36% of the stock is owned by corporate insiders.

Becton, Dickinson and Company Stock Performance

Shares of NYSE:BDX traded up $1.43 during midday trading on Wednesday, reaching $195.50. 1,329,810 shares of the company traded hands, compared to its average volume of 2,628,961. The company has a quick ratio of 0.62, a current ratio of 1.10 and a debt-to-equity ratio of 0.69. Becton, Dickinson and Company has a 12 month low of $163.33 and a 12 month high of $251.99. The firm has a market capitalization of $56.04 billion, a price-to-earnings ratio of 35.16, a price-to-earnings-growth ratio of 1.46 and a beta of 0.20. The firm's fifty day moving average price is $181.58 and its two-hundred day moving average price is $194.78.

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

Becton, Dickinson and Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 8th will be given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 2.1%. The ex-dividend date is Monday, September 8th. Becton, Dickinson and Company's payout ratio is presently 74.82%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on BDX. William Blair cut Becton, Dickinson and Company from an "outperform" rating to a "market perform" rating in a research report on Thursday, May 1st. Morgan Stanley lifted their target price on Becton, Dickinson and Company from $196.00 to $197.00 and gave the company an "overweight" rating in a research report on Monday, August 11th. Citigroup cut Becton, Dickinson and Company from a "strong-buy" rating to a "hold" rating and cut their price objective for the stock from $217.00 to $185.00 in a research report on Thursday, May 22nd. Piper Sandler reissued a "neutral" rating and issued a $200.00 price objective (up previously from $185.00) on shares of Becton, Dickinson and Company in a research report on Friday, August 8th. Finally, Bank of America cut Becton, Dickinson and Company from a "buy" rating to a "neutral" rating and set a $190.00 price objective on the stock. in a research report on Thursday, May 1st. Four investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. Based on data from MarketBeat, Becton, Dickinson and Company has a consensus rating of "Hold" and a consensus price target of $211.44.

Becton, Dickinson and Company Profile

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.