Becton, Dickinson and Company (NYSE:BDX) Shares Sold by Invesco Ltd.

Key Points

• Invesco Ltd. reduced its stake in Becton, Dickinson and Company by 16.5%, selling 704,864 shares and decreasing its ownership to approximately $815.6 million by the end of the first quarter.
• Vanguard Group Inc. increased its position in Becton Dickinson by 4.7%, acquiring an additional 1,259,750 shares, now totaling over $6.4 billion in value.
• Becton, Dickinson and Company reported a quarterly earnings per share (EPS) of $3.68, beating analysts' expectations of $3.40, along with a 10.4% year-over-year revenue increase.

Invesco Ltd. lessened its stake in Becton, Dickinson and Company (NYSE:BDX - Free Report) by 16.5% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 3,560,774 shares of the medical instruments supplier's stock after selling 704,864 shares during the period. Invesco Ltd. owned about 1.24% of Becton, Dickinson and Company worth $815,631,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Vanguard Group Inc. grew 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. boosted its stake in Becton, Dickinson and Company by 36.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 12,126,707 shares of the medical instruments supplier's stock valued at $2,751,187,000 after acquiring an additional 3,219,317 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Becton, Dickinson and Company by 10.8% in the first quarter. Massachusetts Financial Services Co. MA now owns 6,843,856 shares of the medical instruments supplier's stock valued at $1,567,654,000 after acquiring an additional 667,957 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Becton, Dickinson and Company by 7.6% in the first quarter. JPMorgan Chase & Co. now owns 4,420,887 shares of the medical instruments supplier's stock valued at $1,012,649,000 after acquiring an additional 312,124 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC boosted its stake in Becton, Dickinson and Company by 392.4% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 3,416,665 shares of the medical instruments supplier's stock valued at $775,139,000 after acquiring an additional 2,722,829 shares in the last quarter. Institutional investors and hedge funds own 86.97% of the company's stock.

Insider Buying and Selling

In other Becton, Dickinson and Company 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 transaction of $199,607.54. Following the sale, the executive vice president directly 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 Securities & Exchange Commission, which is available through this link. Also, Director Claire Fraser sold 863 shares of the company's 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 sale, the director directly owned 23,143 shares in the company, valued at approximately $4,450,398.90. This trade represents a 3.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 3,214 shares of company stock valued at $579,206. 0.36% of the stock is owned by insiders.

Becton, Dickinson and Company Price Performance

BDX stock opened at $193.65 on Friday. The company's 50-day moving average price is $175.81 and its two-hundred day moving average price is $198.71. Becton, Dickinson and Company has a 12 month low of $163.33 and a 12 month 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. The firm has a market cap of $55.50 billion, a P/E ratio of 34.83, a P/E/G ratio of 1.46 and a beta of 0.20.

Becton, Dickinson and Company (NYSE:BDX - Get Free Report) last released its earnings results on Thursday, August 7th. The medical instruments supplier reported $3.68 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.40 by $0.28. The company had revenue of $5.51 billion for the quarter, compared to the consensus estimate of $5.50 billion. Becton, Dickinson and Company had a net margin of 7.51% and a return on equity of 16.23%. Becton, Dickinson and Company's quarterly revenue was up 10.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.50 EPS. On average, analysts anticipate that Becton, Dickinson and Company will post 14.43 earnings per share for the current fiscal year.

Becton, Dickinson and Company Announces Dividend

The business also recently declared 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. This represents a $4.16 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Monday, September 8th. Becton, Dickinson and Company's payout ratio is 79.39%.

Analysts Set New Price Targets

Several analysts have recently commented on BDX shares. The Goldman Sachs Group lowered shares of Becton, Dickinson and Company from a "buy" rating to a "neutral" rating and set a $192.00 price target on the stock. in a research report on Friday, May 2nd. Piper Sandler boosted their price objective on shares of Becton, Dickinson and Company from $185.00 to $200.00 and gave the company a "neutral" rating in a research note on Friday. Barclays reduced their target price on shares of Becton, Dickinson and Company from $261.00 to $241.00 and set an "overweight" rating on the stock in a report on Tuesday, June 3rd. Citigroup lowered shares of Becton, Dickinson and Company from a "strong-buy" rating to a "hold" rating and cut their price objective for the stock from $217.00 to $185.00 in a report on Thursday, May 22nd. Finally, Wells Fargo & Company boosted their price objective 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. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $211.33.

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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