Becton, Dickinson and Company $BDX Shares Acquired by Aberdeen Group plc

Key Points

• Aberdeen Group increased its BDX stake by 24.3% in the third quarter, adding 102,285 shares to reach 523,400 shares, worth about $93.7 million.
• Becton Dickinson reported quarterly EPS of $4.15, above the $4.07 consensus, while revenue rose 5.4% year over year to $5.27 billion.
• The company authorized a repurchase of up to 10 million shares and raised its quarterly dividend from $1.05 to $1.06 per share.

Aberdeen Group plc boosted its position in Becton, Dickinson and Company (NYSE:BDX - Free Report) by 24.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 523,400 shares of the medical instruments supplier's stock after buying an additional 102,285 shares during the quarter. Aberdeen Group plc owned approximately 0.19% of Becton, Dickinson and Company worth $93,689,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in BDX. Moneco Advisors LLC increased its stake in shares of Becton, Dickinson and Company by 2.6% in the third quarter. Moneco Advisors LLC now owns 2,071 shares of the medical instruments supplier's stock worth $371,000 after purchasing an additional 52 shares in the last quarter. Brown Lisle Cummings Inc. raised its stake in shares of Becton, Dickinson and Company by 9.2% during the 2nd quarter. Brown Lisle Cummings Inc. now owns 644 shares of the medical instruments supplier's stock valued at $97,000 after purchasing an additional 54 shares during the period. Pension & Wealth Management Advisors Inc. raised its stake in shares of Becton, Dickinson and Company by 12.3% during the 3rd quarter. Pension & Wealth Management Advisors Inc. now owns 510 shares of the medical instruments supplier's stock valued at $94,000 after purchasing an additional 56 shares during the period. Brighton Jones LLC lifted its holdings in Becton, Dickinson and Company by 0.7% during the 3rd quarter. Brighton Jones LLC now owns 8,942 shares of the medical instruments supplier's stock worth $1,601,000 after purchasing an additional 58 shares in the last quarter. Finally, Elevation Point Wealth Partners LLC lifted its holdings in Becton, Dickinson and Company by 3.7% during the 2nd quarter. Elevation Point Wealth Partners LLC now owns 1,692 shares of the medical instruments supplier's stock worth $256,000 after purchasing an additional 60 shares in the last quarter. 86.97% of the stock is currently owned by institutional investors.

Insider Transactions at Becton, Dickinson and Company

In other Becton, Dickinson and Company news, CEO Thomas E. Polen, Jr. sold 2,993 shares of the business's stock in a transaction on Thursday, November 5th. The shares were sold at an average price of $210.00, for a total value of $628,530.00. Following the sale, the chief executive officer owned 110,163 shares in the company, valued at $23,134,230. The trade was a 2.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michael Feld sold 165 shares of the firm's stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $188.49, for a total value of $31,100.85. Following the transaction, the executive vice president owned 19,720 shares of the company's stock, valued at approximately $3,717,022.80. The trade was a 0.83% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 3,310 shares of company stock worth $688,650. Insiders own 0.40% of the company's stock.

Becton, Dickinson and Company Price Performance

Shares of NYSE BDX traded up $2.24 during mid-day trading on Friday, reaching $217.95. 1,879,889 shares of the company were exchanged, compared to its average volume of 1,936,421. The stock has a market capitalization of $60.05 billion, a PE ratio of 52.64, a PEG ratio of 3.61 and a beta of 0.22. The company has a quick ratio of 0.54, a current ratio of 0.87 and a debt-to-equity ratio of 0.54. Becton, Dickinson and Company has a 52 week low of $140.11 and a 52 week high of $219.78. The company's 50 day moving average price is $190.90 and its 200 day moving average price is $170.56.

Becton, Dickinson and Company (NYSE:BDX - Get Free Report) last released its quarterly earnings results on Thursday, November 5th. The medical instruments supplier reported $4.15 earnings per share for the quarter, beating the consensus estimate of $4.07 by $0.08. Becton, Dickinson and Company had a net margin of 5.66% and a return on equity of 14.90%. The business had revenue of $5.27 billion for the quarter, compared to analysts' expectations of $5.11 billion. During the same quarter in the previous year, the business posted $3.96 earnings per share. The firm's revenue for the quarter was up 5.4% compared to the same quarter last year. Sell-side analysts forecast that Becton, Dickinson and Company will post 13.21 earnings per share for the current fiscal year.

Becton, Dickinson and Company declared that its board has authorized a share repurchase plan on Thursday, November 5th that allows the company to repurchase 10,000,000 shares. This repurchase authorization allows the medical instruments supplier to reacquire up to 3.6% of its shares through open market purchases. Share repurchase plans are generally an indication that the company's board of directors believes its shares are undervalued.

Becton, Dickinson and Company Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Thursday, December 10th will be given a dividend of $1.06 per share. This represents a $4.24 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Thursday, December 10th. This is a positive change from Becton, Dickinson and Company's previous quarterly dividend of $1.05. Becton, Dickinson and Company's payout ratio is 101.45%.

Analyst Upgrades and Downgrades

BDX has been the topic of several analyst reports. Citigroup upped their price target on Becton, Dickinson and Company from $208.00 to $241.00 and gave the company a "buy" rating in a research report on Friday, November 6th. Piper Sandler boosted their price objective on shares of Becton, Dickinson and Company from $175.00 to $200.00 and gave the company a "neutral" rating in a research note on Friday, November 6th. UBS Group started coverage on shares of Becton, Dickinson and Company in a report on Tuesday, July 28th. They set a "buy" rating and a $190.00 target price on the stock. Wells Fargo & Company increased their target price on shares of Becton, Dickinson and Company from $161.00 to $170.00 and gave the stock an "equal weight" rating in a research note on Friday, August 7th. Finally, Wolfe Research initiated coverage on shares of Becton, Dickinson and Company in a research note on Tuesday, October 20th. They issued an "outperform" rating on the stock. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Becton, Dickinson and Company has a consensus rating of "Moderate Buy" and an average price target of $197.47.

About Becton, Dickinson and Company

Becton, Dickinson and Company, commonly known as BD, is a global medical technology company that develops and manufactures products used in healthcare, clinical laboratories and life sciences research. Founded in 1897, the company has a long history of producing medical devices and supplies. BD's products include syringes, needles, infusion systems and medication-management technologies, as well as equipment and supplies for collecting and processing clinical specimens. The company also provides diagnostic systems, laboratory instruments and tools used in areas such as cell analysis and biomedical research.

Want to see what other hedge funds are holding BDX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Becton, Dickinson and Company (NYSE:BDX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.