Becton, Dickinson and Company $BDX Shares Sold by Adage Capital Partners GP L.L.C.

Key Points

• Adage Capital Partners GP L.L.C. significantly reduced its stake in Becton, Dickinson and Company by 61.8%, selling 157,199 shares and now holding 97,276 shares worth approximately $22.3 million.
• Becton, Dickinson and Company reported a quarterly EPS of $3.68, beating analysts' estimates, while its revenue increased by 10.4% year-over-year.
• The company declared a quarterly dividend of $1.04, resulting in an annualized dividend of $4.16 and a yield of 2.2%.

Adage Capital Partners GP L.L.C. decreased its holdings in Becton, Dickinson and Company (NYSE:BDX - Free Report) by 61.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 97,276 shares of the medical instruments supplier's stock after selling 157,199 shares during the quarter. Adage Capital Partners GP L.L.C.'s holdings in Becton, Dickinson and Company were worth $22,282,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC boosted its stake in shares of Becton, Dickinson and Company by 98.2% in the 4th quarter. Brighton Jones LLC now owns 1,770 shares of the medical instruments supplier's stock valued at $401,000 after purchasing an additional 877 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of Becton, Dickinson and Company by 50.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 82,110 shares of the medical instruments supplier's stock valued at $18,808,000 after acquiring an additional 27,581 shares during the period. FORA Capital LLC purchased a new stake in Becton, Dickinson and Company in the first quarter valued at approximately $3,458,000. Foster Victor Wealth Advisors LLC bought a new stake in Becton, Dickinson and Company in the first quarter valued at $6,406,000. Finally, GAMMA Investing LLC boosted its holdings in shares of Becton, Dickinson and Company by 29.9% during the 1st quarter. GAMMA Investing LLC now owns 3,250 shares of the medical instruments supplier's stock valued at $744,000 after buying an additional 748 shares in the last quarter. 86.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Wells Fargo & Company upped their price objective on Becton, Dickinson and Company from $172.00 to $184.00 and gave the stock an "equal weight" rating in a report on Friday, August 8th. Citigroup lowered Becton, Dickinson and Company from a "strong-buy" rating to a "hold" rating and lowered their price objective for the stock from $217.00 to $185.00 in a research note on Thursday, May 22nd. Morgan Stanley increased their target price on Becton, Dickinson and Company from $196.00 to $197.00 and gave the stock an "overweight" rating in a research note on Monday, August 11th. Piper Sandler reiterated a "neutral" rating and issued a $200.00 price objective (up previously from $185.00) on shares of Becton, Dickinson and Company in a report on Friday, August 8th. Finally, Wall Street Zen raised Becton, Dickinson and Company from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Four investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $211.44.

Becton, Dickinson and Company Stock Performance

Shares of NYSE BDX traded down $3.04 during mid-day trading on Wednesday, hitting $187.45. The company had a trading volume of 387,780 shares, compared to its average volume of 2,582,759. The firm has a market cap of $53.73 billion, a P/E ratio of 33.75, a PEG ratio of 1.43 and a beta of 0.27. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.10 and a quick ratio of 0.62. Becton, Dickinson and Company has a 12 month low of $163.33 and a 12 month high of $251.99. The business's 50-day simple moving average is $185.72 and its 200-day simple moving average is $192.33.

Becton, Dickinson and Company (NYSE:BDX - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The medical instruments supplier reported $3.68 earnings per share for the quarter, topping analysts' consensus estimates of $3.40 by $0.28. Becton, Dickinson and Company had a net margin of 7.51% and a return on equity of 16.23%. The company had revenue of $5.51 billion for the quarter, compared to analysts' expectations of $5.50 billion. During the same period last year, the firm posted $3.50 earnings per share. The business's quarterly revenue 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. As a group, analysts predict that Becton, Dickinson and Company will post 14.43 earnings per share for the current fiscal year.

Becton, Dickinson and Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 8th will be paid a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Monday, September 8th. Becton, Dickinson and Company's payout ratio is currently 74.82%.

Insiders Place Their Bets

In other news, EVP Michael David Garrison sold 1,185 shares of Becton, Dickinson and Company stock in a transaction 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 sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 sale, the director owned 23,143 shares in the company, valued at $4,450,398.90. The trade was a 3.59% decrease in their position. The disclosure for this sale can be found here. Corporate 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.