Becton, Dickinson and Company $BDX Stock: M&G PLC Reduces Position

Key Points

• M&G PLC reduced its Becton, Dickinson and Company stake by 4.7% in the third quarter, selling 42,156 shares. It held 845,557 shares, valued at about $151.4 million at quarter-end.
• BD reported quarterly earnings of $4.15 per share and revenue of $5.27 billion, both ahead of analysts’ estimates; revenue increased 5.4% year over year. The company also authorized a buyback of up to 10 million shares and raised its quarterly dividend to $1.06 per share.
• Analysts’ consensus rating was “Moderate Buy”, with an average price target of $195.47. Shares opened at $215.13 in the article’s latest market snapshot.

M&G PLC lowered its position in Becton, Dickinson and Company (NYSE:BDX - Free Report) by 4.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 845,557 shares of the medical instruments supplier's stock after selling 42,156 shares during the period. M&G PLC owned about 0.31% of Becton, Dickinson and Company worth $151,355,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Maryland Capital Advisors Inc. boosted its position in Becton, Dickinson and Company by 13,900.0% in the third quarter. Maryland Capital Advisors Inc. now owns 140 shares of the medical instruments supplier's stock worth $25,000 after purchasing an additional 139 shares during the last quarter. Meeder Asset Management Inc. increased its position in shares of Becton, Dickinson and Company by 152.2% during the 1st quarter. Meeder Asset Management Inc. now owns 169 shares of the medical instruments supplier's stock valued at $27,000 after purchasing an additional 102 shares during the last quarter. Main Street Group LTD purchased a new stake in shares of Becton, Dickinson and Company during the 1st quarter valued at about $29,000. Bell Investment Advisors Inc bought a new position in shares of Becton, Dickinson and Company in the 2nd quarter worth approximately $29,000. Finally, Kelleher Financial Advisors bought a new position in shares of Becton, Dickinson and Company in the 2nd quarter worth approximately $30,000. Hedge funds and other institutional investors own 86.97% of the company's stock.

Insiders Place Their Bets

In other news, EVP Michael Feld sold 165 shares of Becton, Dickinson and Company stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $188.49, for a total transaction of $31,100.85. Following the completion of the sale, the executive vice president directly owned 19,720 shares in the company, valued at approximately $3,717,022.80. This trade represents a 0.83% 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. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Thomas E. Polen, Jr. sold 4,152 shares of the business's stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $185.00, for a total transaction of $768,120.00. Following the sale, the chief executive officer directly owned 110,163 shares of the company's stock, valued at $20,380,155. This represents a 3.63% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 7,462 shares of company stock valued at $1,456,770. 0.40% of the stock is owned by company insiders.

Analysts Set New Price Targets

BDX has been the subject of a number of research reports. Bank of America upped their target price on shares of Becton, Dickinson and Company from $185.00 to $200.00 and gave the company a "neutral" rating in a report on Monday, August 31st. Weiss Ratings raised Becton, Dickinson and Company from a "hold (c-)" rating to a "hold (c)" rating in a report on Wednesday, November 4th. JPMorgan Chase & Co. boosted their target price on shares of Becton, Dickinson and Company from $170.00 to $202.00 and gave the stock a "neutral" rating in a report on Friday. UBS Group assumed coverage on Becton, Dickinson and Company in a report on Tuesday, July 28th. They set a "buy" rating and a $190.00 price target for the company. Finally, TD Cowen raised their target price on shares of Becton, Dickinson and Company from $163.00 to $182.00 and gave the company a "hold" rating in a report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $195.47.

Becton, Dickinson and Company Stock Performance

Shares of NYSE:BDX opened at $215.13 on Tuesday. The company has a current ratio of 0.87, a quick ratio of 0.51 and a debt-to-equity ratio of 0.55. Becton, Dickinson and Company has a 12 month low of $138.31 and a 12 month high of $216.74. The company has a market capitalization of $59.28 billion, a price-to-earnings ratio of 51.96, a PEG ratio of 14.10 and a beta of 0.22. The firm's 50-day moving average is $188.68 and its 200 day moving average is $170.32.

Becton, Dickinson and Company (NYSE:BDX - Get Free Report) last announced its earnings results on Thursday, November 5th. The medical instruments supplier reported $4.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.07 by $0.08. Becton, Dickinson and Company had a return on equity of 14.79% and a net margin of 4.52%. The business had revenue of $5.27 billion during the quarter, compared to analyst estimates of $5.11 billion. During the same quarter in the previous year, the business earned $3.96 earnings per share. The company's revenue for the quarter was up 5.4% compared to the same quarter last year. Research analysts predict that Becton, Dickinson and Company will post 13.27 EPS for the current year.

Becton, Dickinson and Company announced that its Board of Directors has authorized a share repurchase plan on Thursday, November 5th that authorizes the company to repurchase 10,000,000 outstanding shares. This buyback authorization authorizes the medical instruments supplier to purchase up to 3.6% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's leadership believes its shares are undervalued.

Becton, Dickinson and Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Thursday, December 10th will be issued a dividend of $1.06 per share. This represents a $4.24 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Thursday, December 10th. This is an increase from Becton, Dickinson and Company's previous quarterly dividend of $1.05. Becton, Dickinson and Company's dividend payout ratio (DPR) is presently 101.45%.

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.

Its offerings serve hospitals, clinics, laboratories, researchers and pharmaceutical companies.

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