Assetmark Inc. Acquires 19,198 Shares of Becton, Dickinson and Company (NYSE:BDX)

Key Points

• Assetmark Inc. increased its stake in Becton, Dickinson and Company by 37.5%, now owning 70,378 shares valued at approximately $16.1 million.
• Other hedge funds, including T. Rowe Price and Massachusetts Financial Services, have also raised their positions in BDX, reflecting increased institutional interest.
• Becton, Dickinson reported a quarterly earnings of $3.35 EPS, exceeding analysts' expectations, and announced a quarterly dividend of $1.04 per share scheduled for payment on September 30th.

Assetmark Inc. boosted its stake in Becton, Dickinson and Company (NYSE:BDX - Free Report) by 37.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 70,378 shares of the medical instruments supplier's stock after acquiring an additional 19,198 shares during the period. Assetmark Inc.'s holdings in Becton, Dickinson and Company were worth $16,121,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. T. Rowe Price Investment Management Inc. boosted its holdings in Becton, Dickinson and Company by 36.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 12,126,707 shares of the medical instruments supplier's stock valued at $2,751,187,000 after purchasing an additional 3,219,317 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in Becton, Dickinson and Company by 10.8% during the first quarter. Massachusetts Financial Services Co. MA now owns 6,843,856 shares of the medical instruments supplier's stock worth $1,567,654,000 after buying an additional 667,957 shares during the period. Geode Capital Management LLC grew its position in Becton, Dickinson and Company by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 6,351,537 shares of the medical instruments supplier's stock worth $1,437,161,000 after buying an additional 66,024 shares during the period. Invesco Ltd. grew its position in shares of Becton, Dickinson and Company by 6.7% in the fourth quarter. Invesco Ltd. now owns 4,265,638 shares of the medical instruments supplier's stock valued at $967,745,000 after purchasing an additional 267,436 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC grew its position in shares of Becton, Dickinson and Company by 392.4% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 3,416,665 shares of the medical instruments supplier's stock valued at $775,139,000 after purchasing an additional 2,722,829 shares during the last quarter. 86.97% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Becton, Dickinson and Company

In other news, EVP David Shan sold 1,166 shares of Becton, Dickinson and Company stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $171.19, for a total value of $199,607.54. Following the transaction, the executive vice president directly owned 4,575 shares of the company's stock, valued at $783,194.25. This trade represents a 20.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Michael David Garrison sold 1,185 shares of Becton, Dickinson and Company stock in a transaction that occurred on 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 approximately $881,077.23. This trade represents a 19.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.36% of the company's stock.

Analysts Set New Price Targets

BDX has been the topic of several recent analyst reports. The Goldman Sachs Group downgraded shares of Becton, Dickinson and Company from a "buy" rating to a "neutral" rating and set a $192.00 price objective on the stock. in a research note on Friday, May 2nd. William Blair downgraded shares of Becton, Dickinson and Company from an "outperform" rating to a "market perform" rating in a research note on Thursday, May 1st. Citigroup lowered shares of Becton, Dickinson and Company from a "strong-buy" rating to a "hold" rating and lowered their price target for the company from $217.00 to $185.00 in a report on Thursday, May 22nd. Stifel Nicolaus decreased their price objective on shares of Becton, Dickinson and Company from $280.00 to $224.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Finally, Raymond James Financial lowered shares of Becton, Dickinson and Company from an "outperform" rating to a "market perform" rating in a report on Friday, May 2nd. Eight research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $219.22.

Becton, Dickinson and Company Price Performance

Shares of BDX stock traded down $0.54 during midday trading on Wednesday, reaching $181.84. 257,364 shares of the company were exchanged, compared to its average volume of 2,611,741. Becton, Dickinson and Company has a 12 month low of $163.33 and a 12 month high of $251.99. The company has a market cap of $52.12 billion, a P/E ratio of 34.73, a PEG ratio of 1.38 and a beta of 0.25. The company's 50 day moving average price is $174.54 and its two-hundred day moving average price is $201.82. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.64 and a current ratio of 1.13.

Becton, Dickinson and Company (NYSE:BDX - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The medical instruments supplier reported $3.35 EPS for the quarter, topping analysts' consensus estimates of $3.28 by $0.07. The company had revenue of $5.27 billion for the quarter, compared to the consensus estimate of $5.35 billion. Becton, Dickinson and Company had a net margin of 7.28% and a return on equity of 15.99%. Becton, Dickinson and Company's revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the firm earned $3.17 EPS. On average, sell-side 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 company also recently announced 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. This represents a $4.16 annualized dividend and a dividend yield of 2.29%. The ex-dividend date is Monday, September 8th. Becton, Dickinson and Company's dividend payout ratio (DPR) is currently 79.39%.

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.