The Manufacturers Life Insurance Company Cuts Position in Becton, Dickinson and Company $BDX

Key Points

• The Manufacturers Life Insurance Company reduced its stake in Becton, Dickinson and Company by 34.5%, now holding approximately 0.32% of the company's shares worth $212.88 million.
• Wells Fargo raised its price target for Becton, Dickinson from $172 to $184, while other analysts provided mixed ratings, with the consensus rating now being a "Hold."
• Becton, Dickinson reported $3.68 EPS in its latest quarterly earnings, exceeding expectations, and has set a fiscal year 2025 guidance of $14.30 - $14.45 EPS.

The Manufacturers Life Insurance Company lessened its position in shares of Becton, Dickinson and Company (NYSE:BDX - Free Report) by 34.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 929,369 shares of the medical instruments supplier's stock after selling 489,863 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.32% of Becton, Dickinson and Company worth $212,881,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BDX. Brighton Jones LLC grew its position in Becton, Dickinson and Company by 98.2% during the fourth quarter. Brighton Jones LLC now owns 1,770 shares of the medical instruments supplier's stock valued at $401,000 after buying an additional 877 shares during the period. Hara Capital LLC grew its position in Becton, Dickinson and Company by 26.4% during the fourth quarter. Hara Capital LLC now owns 335 shares of the medical instruments supplier's stock valued at $76,000 after buying an additional 70 shares during the period. AQR Capital Management LLC grew its position in Becton, Dickinson and Company by 3.6% during the fourth quarter. AQR Capital Management LLC now owns 408,097 shares of the medical instruments supplier's stock valued at $92,585,000 after buying an additional 14,258 shares during the period. Voleon Capital Management LP purchased a new position in Becton, Dickinson and Company during the fourth quarter valued at $1,583,000. Finally, Freestone Grove Partners LP purchased a new position in Becton, Dickinson and Company during the fourth quarter valued at $99,627,000. Institutional investors and hedge funds own 86.97% of the company's stock.

Wall Street Analysts Forecast Growth

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

Becton, Dickinson and Company Trading Down 0.5%

BDX stock traded down $0.98 during trading on Wednesday, reaching $187.18. 1,780,143 shares of the stock were exchanged, compared to its average volume of 2,607,005. The company has a current ratio of 1.10, a quick ratio of 0.62 and a debt-to-equity ratio of 0.69. The business has a 50 day moving average price of $183.86 and a 200-day moving average price of $193.57. Becton, Dickinson and Company has a 1 year low of $163.33 and a 1 year high of $251.99. The firm has a market capitalization of $53.65 billion, a price-to-earnings ratio of 33.61, a P/E/G ratio of 1.44 and a beta of 0.27.

Becton, Dickinson and Company (NYSE:BDX - Get Free Report) last issued its earnings results on Thursday, August 7th. The medical instruments supplier reported $3.68 EPS 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 the consensus estimate of $5.50 billion. During the same period in the previous year, the firm earned $3.50 earnings per share. Becton, Dickinson and Company'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. On average, research analysts predict 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 announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 8th will be paid a dividend of $1.04 per share. The ex-dividend date of this dividend is Monday, September 8th. This represents a $4.16 dividend on an annualized basis and a yield of 2.2%. Becton, Dickinson and Company's payout ratio is 74.82%.

Insider Transactions at Becton, Dickinson and Company

In other Becton, Dickinson and Company news, Director Claire Fraser sold 863 shares of Becton, Dickinson and Company stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $192.30, for a total transaction of $165,954.90. Following the transaction, the director directly owned 23,143 shares of the company's stock, valued at $4,450,398.90. The trade was a 3.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Michael David Garrison sold 1,185 shares of Becton, Dickinson and Company stock in a transaction that occurred on Friday, July 18th. The shares were 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 owned 4,887 shares of the company's stock, valued at $881,077.23. This trade represents a 19.52% decrease in their position. The disclosure for this sale can be found here. 0.36% of the stock is owned by insiders.

Becton, Dickinson and 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.