Cacti Asset Management LLC Boosts Stake in Becton, Dickinson and Company $BDX

Key Points

• Cacti Asset Management LLC increased its holdings in Becton, Dickinson and Company by 0.8% to approximately 180,271 shares, which represents about 2.2% of their total portfolio.
• Becton, Dickinson and Company reported a 10.4% increase in quarterly revenue year-over-year, reaching $5.51 billion, along with an EPS of $3.68, exceeding analysts' expectations of $3.40.
• The company recently announced a quarterly dividend of $1.04 per share, yielding 2.2%, with an expected payout ratio of 74.82%.

Cacti Asset Management LLC increased its stake in Becton, Dickinson and Company (NYSE:BDX - Free Report) by 0.8% during the second quarter, according to its most recent filing with the SEC. The fund owned 180,271 shares of the medical instruments supplier's stock after buying an additional 1,500 shares during the quarter. Becton, Dickinson and Company accounts for approximately 2.2% of Cacti Asset Management LLC's portfolio, making the stock its 16th largest holding. Cacti Asset Management LLC owned 0.06% of Becton, Dickinson and Company worth $30,801,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in BDX. Confluence Investment Management LLC increased its position in shares of Becton, Dickinson and Company by 0.6% in the second quarter. Confluence Investment Management LLC now owns 80,614 shares of the medical instruments supplier's stock worth $13,886,000 after purchasing an additional 499 shares during the last quarter. Park National Corp OH lifted its position in Becton, Dickinson and Company by 11.3% during the second quarter. Park National Corp OH now owns 42,578 shares of the medical instruments supplier's stock valued at $7,334,000 after buying an additional 4,322 shares during the period. AG2R LA Mondiale Gestion D Actifs bought a new position in shares of Becton, Dickinson and Company during the first quarter valued at $2,561,000. Swedbank AB increased its holdings in Becton, Dickinson and Company by 1.2% in the 1st quarter. Swedbank AB now owns 154,190 shares of the medical instruments supplier's stock worth $35,319,000 after buying an additional 1,897 shares in the last quarter. Finally, Voya Investment Management LLC boosted its position in Becton, Dickinson and Company by 1.4% in the first quarter. Voya Investment Management LLC now owns 66,337 shares of the medical instruments supplier's stock worth $15,195,000 after purchasing an additional 906 shares during the last quarter. 86.97% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Claire Fraser sold 917 shares of the company's stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $187.50, for a total value of $171,937.50. Following the completion of the transaction, the director owned 22,226 shares of the company's stock, valued at approximately $4,167,375. This represents a 3.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Michael David Garrison sold 1,185 shares of the firm's stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $180.29, for a total value of $213,643.65. Following the completion of the sale, the executive vice president directly owned 4,887 shares in the company, valued at approximately $881,077.23. The trade was a 19.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,965 shares of company stock worth $551,536. 0.36% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on BDX shares. Citigroup cut Becton, Dickinson and Company from a "strong-buy" rating to a "hold" rating and lowered their price objective for the company from $217.00 to $185.00 in a research report on Thursday, May 22nd. Wall Street Zen raised Becton, Dickinson and Company from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Piper Sandler reissued a "neutral" rating and set a $200.00 target price (up previously from $185.00) on shares of Becton, Dickinson and Company in a research report on Friday, August 8th. Barclays cut their target price on Becton, Dickinson and Company from $261.00 to $241.00 and set an "overweight" rating on the stock in a research report on Tuesday, June 3rd. Finally, Morgan Stanley boosted 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. Four analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $211.44.

Becton, Dickinson and Company Stock Up 0.3%

Shares of NYSE BDX traded up $0.51 during mid-day trading on Tuesday, reaching $186.25. 1,211,488 shares of the company were exchanged, compared to its average volume of 1,651,059. The firm has a 50-day moving average of $186.72 and a 200 day moving average of $190.98. Becton, Dickinson and Company has a 1 year low of $163.33 and a 1 year high of $251.99. The stock has a market cap of $53.38 billion, a price-to-earnings ratio of 13.02, a P/E/G ratio of 1.50 and a beta of 0.27. 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 (NYSE:BDX - Get Free Report) last announced its quarterly earnings data 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 return on equity of 16.23% and a net margin of 7.51%.The business had revenue of $5.51 billion for the quarter, compared to analyst estimates of $5.50 billion. During the same period in the prior year, the company earned $3.50 earnings per share. The company's revenue 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. On average, research analysts expect that Becton, Dickinson and Company will post 14.43 earnings per share for the current year.

Becton, Dickinson and Company Announces Dividend

The business also recently announced 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. This represents a $4.16 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Monday, September 8th. Becton, Dickinson and Company's dividend payout ratio (DPR) is 74.82%.

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.