Becton, Dickinson and Company $BDX Shares Sold by Eastern Bank

Key Points

• Eastern Bank significantly reduced its stake in Becton, Dickinson and Company by 61.9% during the 2nd quarter, now holding 2,131 shares valued at approximately $367,000.
• Analysts have varied outlooks on Becton, Dickinson and Company, with Argus raising the price target to $230.00 and three analysts rating the stock as "Buy," while nine maintain a "Hold" rating.
• Becton, Dickinson and Company declared a quarterly dividend of $1.04 per share, reflecting a dividend yield of 2.2% and a payout ratio of 74.82%.

Eastern Bank cut its stake in Becton, Dickinson and Company (NYSE:BDX - Free Report) by 61.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,131 shares of the medical instruments supplier's stock after selling 3,464 shares during the period. Eastern Bank's holdings in Becton, Dickinson and Company were worth $367,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in BDX. Saudi Central Bank acquired a new stake in Becton, Dickinson and Company in the first quarter valued at $26,000. Smallwood Wealth Investment Management LLC acquired a new stake in Becton, Dickinson and Company in the first quarter valued at $27,000. Alpine Bank Wealth Management acquired a new stake in Becton, Dickinson and Company in the first quarter valued at $29,000. Cornerstone Planning Group LLC raised its holdings in Becton, Dickinson and Company by 341.4% in the first 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 in the last quarter. Finally, Kelly Lawrence W & Associates Inc. CA acquired a new stake in Becton, Dickinson and Company in the first quarter valued at $31,000. 86.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on BDX. Argus upped their price target on shares of Becton, Dickinson and Company from $220.00 to $230.00 in a report on Monday, September 15th. Wells Fargo & Company increased their target price on shares of 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. Weiss Ratings reissued a "hold (c-)" rating on shares of Becton, Dickinson and Company in a report on Wednesday, October 8th. Piper Sandler reissued a "neutral" rating and set a $200.00 target price (up from $185.00) on shares of Becton, Dickinson and Company in a report on Friday, August 8th. Finally, Morgan Stanley increased their target price on shares of Becton, Dickinson and Company from $196.00 to $197.00 and gave the stock an "overweight" rating in a report on Monday, August 11th. Three research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, Becton, Dickinson and Company has an average rating of "Hold" and an average price target of $205.40.

Becton, Dickinson and Company Stock Down 1.4%

Becton, Dickinson and Company stock opened at $186.41 on Monday. The company has a 50-day simple moving average of $190.07 and a 200-day simple moving average of $185.73. The firm has a market capitalization of $53.43 billion, a P/E ratio of 33.53, a P/E/G ratio of 1.46 and a beta of 0.25. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.62 and a current ratio of 1.10. Becton, Dickinson and Company has a one year low of $163.33 and a one year high of $251.99.

Becton, Dickinson and Company (NYSE:BDX - Get Free Report) last released its quarterly earnings results on Thursday, April 14th. The medical instruments supplier reported $4.10 EPS for the quarter. The business had revenue of $5.32 billion during the quarter. Becton, Dickinson and Company had a net margin of 7.51% and a return on equity of 16.23%. As a group, equities 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 declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 8th were given a dividend of $1.04 per share. The ex-dividend date was Monday, September 8th. This represents a $4.16 annualized dividend and a dividend yield of 2.2%. Becton, Dickinson and Company's dividend payout ratio is currently 74.82%.

Insider Activity

In other news, Director Claire Fraser sold 917 shares of the company's stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $187.50, for a total transaction of $171,937.50. Following the completion of the transaction, the director owned 22,226 shares in the company, valued at approximately $4,167,375. This represents a 3.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Michael David Garrison sold 1,185 shares of the company's stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $180.29, for a total transaction of $213,643.65. Following the transaction, the executive vice president owned 4,887 shares of the company's stock, valued at $881,077.23. This represents a 19.52% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,023 shares of company stock valued at $562,036 in the last 90 days. Insiders own 0.36% of the company's stock.

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.

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