Becton, Dickinson and Company (NYSE:BDX) Shares Sold by Everett Harris & Co. CA

Key Points

• Everett Harris & Co. CA reduced its stake in Becton, Dickinson and Company by 0.6%, now holding 557,751 shares, which is 1.6% of their total investments, worth approximately $127.76 million.
• Becton, Dickinson and Company reported earnings of $3.68 per share for the latest quarter, exceeding analysts' estimates of $3.40, with a 10.4% year-over-year revenue growth to $5.51 billion.
• The company announced a quarterly dividend of $1.04, representing an annualized dividend yield of 2.2%, with a payout ratio of 79.39% as of the last reporting period.

Everett Harris & Co. CA lowered its position in Becton, Dickinson and Company (NYSE:BDX - Free Report) by 0.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 557,751 shares of the medical instruments supplier's stock after selling 3,230 shares during the quarter. Becton, Dickinson and Company accounts for 1.6% of Everett Harris & Co. CA's investment portfolio, making the stock its 12th biggest position. Everett Harris & Co. CA owned 0.19% of Becton, Dickinson and Company worth $127,758,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BDX. Vanguard Group Inc. lifted its stake in shares of Becton, Dickinson and Company by 4.7% during the first quarter. Vanguard Group Inc. now owns 28,002,802 shares of the medical instruments supplier's stock worth $6,414,322,000 after purchasing an additional 1,259,750 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in shares of Becton, Dickinson and Company by 36.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 12,126,707 shares of the medical instruments supplier's stock worth $2,751,187,000 after purchasing an additional 3,219,317 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Becton, Dickinson and Company by 10.8% during the first quarter. Massachusetts Financial Services Co. MA now owns 6,843,856 shares of the medical instruments supplier's stock worth $1,567,654,000 after purchasing an additional 667,957 shares in the last quarter. Kovitz Investment Group Partners LLC lifted its stake in shares of Becton, Dickinson and Company by 392.4% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 3,416,665 shares of the medical instruments supplier's stock worth $775,139,000 after purchasing an additional 2,722,829 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Becton, Dickinson and Company by 1.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 3,091,149 shares of the medical instruments supplier's stock worth $707,872,000 after acquiring an additional 37,733 shares during the last quarter. Institutional investors and hedge funds own 86.97% of the company's stock.

Becton, Dickinson and Company Stock Performance

Shares of NYSE:BDX traded up $5.97 during trading on Friday, hitting $193.65. 3,955,405 shares of the company traded hands, compared to its average volume of 3,266,347. The stock has a market capitalization of $55.50 billion, a price-to-earnings ratio of 34.83, a PEG ratio of 1.46 and a beta of 0.20. The business's fifty day moving average is $175.81 and its 200-day moving average is $198.71. Becton, Dickinson and Company has a one year low of $163.33 and a one year high of $251.99. The company has a quick ratio of 0.64, 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 released its quarterly earnings results 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 company had revenue of $5.51 billion for the quarter, compared to analysts' expectations of $5.50 billion. During the same quarter in the previous year, the company posted $3.50 earnings per share. The business's revenue for the quarter was up 10.4% compared to the same quarter last year. As a group, equities 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 disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 8th will be issued a $1.04 dividend. The ex-dividend date of this dividend is Monday, September 8th. This represents a $4.16 annualized dividend and a yield of 2.1%. Becton, Dickinson and Company's dividend payout ratio is presently 79.39%.

Insider Buying and Selling

In related news, EVP David Shan sold 1,166 shares of the company's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $171.19, for a total value of $199,607.54. Following the completion of the sale, the executive vice president owned 4,575 shares of the company's stock, valued at $783,194.25. This represents a 20.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Claire Fraser sold 863 shares of the company's stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $192.30, for a total transaction of $165,954.90. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. Insiders sold 3,214 shares of company stock valued at $579,206 over the last 90 days. 0.36% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Citigroup lowered Becton, Dickinson and Company from a "strong-buy" rating to a "hold" rating and dropped their target price for the stock from $217.00 to $185.00 in a research report on Thursday, May 22nd. Morgan Stanley dropped their target price on Becton, Dickinson and Company from $280.00 to $196.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 6th. Wells Fargo & Company lifted their target price on Becton, Dickinson and Company from $172.00 to $184.00 and gave the stock an "equal weight" rating in a research report on Friday. Piper Sandler lifted their target price on Becton, Dickinson and Company from $185.00 to $200.00 and gave the stock a "neutral" rating in a research report on Friday. Finally, Bank of America lowered Becton, Dickinson and Company from a "buy" rating to a "neutral" rating and set a $190.00 target price on the stock. in a research report on Thursday, May 1st. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $211.33.

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.