Avity Investment Management Inc. Reduces Stake in Becton, Dickinson and Company $BDX

Key Points

• Avity Investment Management Inc. reduced its stake in Becton, Dickinson and Company by 7.6%, selling 12,343 shares, leading to ownership of approximately 151,071 shares, valued at $26 million.
• Becton, Dickinson and Company reported a quarterly EPS of $3.68, surpassing estimates, along with revenue of $5.51 billion, which was a 10.4% increase from the previous year.
• The company announced a quarterly dividend of $1.04 per share, with a payout ratio of 74.82%, reflecting an annualized yield of 2.2%.

Avity Investment Management Inc. cut its stake in shares of Becton, Dickinson and Company (NYSE:BDX - Free Report) by 7.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 151,071 shares of the medical instruments supplier's stock after selling 12,343 shares during the quarter. Becton, Dickinson and Company accounts for about 1.9% of Avity Investment Management Inc.'s portfolio, making the stock its 26th largest position. Avity Investment Management Inc. owned about 0.05% of Becton, Dickinson and Company worth $26,022,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the stock. Saudi Central Bank acquired a new position in shares of Becton, Dickinson and Company in the first quarter valued at approximately $26,000. Smallwood Wealth Investment Management LLC acquired a new position in Becton, Dickinson and Company in the 1st quarter valued at approximately $27,000. REAP Financial Group LLC increased its position in Becton, Dickinson and Company by 75.3% in the 4th quarter. REAP Financial Group LLC now owns 128 shares of the medical instruments supplier's stock valued at $29,000 after acquiring an additional 55 shares during the period. Alpine Bank Wealth Management acquired a new position in Becton, Dickinson and Company in the 1st quarter valued at approximately $29,000. Finally, Cornerstone Planning Group LLC increased its position in Becton, Dickinson and Company by 341.4% in the 1st quarter. Cornerstone Planning Group LLC now owns 128 shares of the medical instruments supplier's stock valued at $29,000 after acquiring an additional 99 shares during the period. 86.97% of the stock is currently owned by institutional investors and hedge funds.

Becton, Dickinson and Company Stock Down 0.9%

Shares of BDX stock traded down $1.66 during trading hours on Friday, reaching $186.72. The company had a trading volume of 703,380 shares, compared to its average volume of 2,535,428. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.10 and a quick ratio of 0.62. The company has a market cap of $53.52 billion, a price-to-earnings ratio of 33.59, a price-to-earnings-growth ratio of 1.51 and a beta of 0.27. The business has a fifty day simple moving average of $187.42 and a 200-day simple moving average of $190.65. Becton, Dickinson and Company has a 12 month low of $163.33 and a 12 month high of $251.99.

Becton, Dickinson and Company (NYSE:BDX - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The medical instruments supplier reported $3.68 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.40 by $0.28. The firm had revenue of $5.51 billion for the quarter, compared to the consensus estimate of $5.50 billion. Becton, Dickinson and Company had a net margin of 7.51% and a return on equity of 16.23%. The business's revenue for the quarter was up 10.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.50 EPS. Becton, Dickinson and Company has set its FY 2025 guidance at 14.300-14.450 EPS. On average, research analysts expect 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. Investors of record on Monday, September 8th will be issued a dividend of $1.04 per share. The ex-dividend date is Monday, September 8th. This represents a $4.16 annualized dividend and a yield of 2.2%. Becton, Dickinson and Company's payout ratio is 74.82%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on BDX shares. 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 note on Friday, August 8th. Citigroup cut Becton, Dickinson and Company from a "strong-buy" rating to a "hold" rating and decreased their price target for the company from $217.00 to $185.00 in a research note on Thursday, May 22nd. Wells Fargo & Company increased their price target on Becton, Dickinson and Company from $172.00 to $184.00 and gave the company an "equal weight" rating in a research note on Friday, August 8th. Barclays reduced their target price on Becton, Dickinson and Company from $261.00 to $241.00 and set an "overweight" rating on the stock in a report on Tuesday, June 3rd. Finally, Wall Street Zen upgraded Becton, Dickinson and Company from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Four research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $213.30.

Insider Buying and Selling

In other Becton, Dickinson and Company news, Director Claire Fraser sold 917 shares of the business's stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $187.50, for a total value of $171,937.50. Following the transaction, the director owned 22,226 shares of the company's stock, valued at approximately $4,167,375. The trade was a 3.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Michael David Garrison sold 1,185 shares of the business's stock in a transaction on Friday, July 18th. The stock was sold at an average price of $180.29, for a total value 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 represents a 19.52% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,965 shares of company stock worth $551,536 in the last 90 days. Company insiders own 0.36% of the company's stock.

Becton, Dickinson and Company 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.