Palisade Capital Management LP raised its position in Becton, Dickinson and Company (NYSE:BDX - Free Report) by 15.0% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 49,900 shares of the medical instruments supplier's stock after purchasing an additional 6,522 shares during the period. Palisade Capital Management LP's holdings in Becton, Dickinson and Company were worth $11,430,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Smallwood Wealth Investment Management LLC purchased a new stake in Becton, Dickinson and Company during the 1st quarter valued at about $27,000. REAP Financial Group LLC grew its position in shares of Becton, Dickinson and Company by 75.3% in the fourth quarter. REAP Financial Group LLC now owns 128 shares of the medical instruments supplier's stock valued at $29,000 after purchasing an additional 55 shares in the last quarter. Alpine Bank Wealth Management acquired a new stake in shares of Becton, Dickinson and Company in the first quarter valued at approximately $29,000. Picton Mahoney Asset Management lifted its position in Becton, Dickinson and Company by 61.4% during the fourth quarter. Picton Mahoney Asset Management now owns 142 shares of the medical instruments supplier's stock worth $32,000 after buying an additional 54 shares in the last quarter. Finally, Nexus Investment Management ULC acquired a new position in Becton, Dickinson and Company during the first quarter worth $34,000. Institutional investors and hedge funds own 86.97% of the company's stock.
Becton, Dickinson and Company Stock Down 0.6%
Becton, Dickinson and Company stock traded down $1.11 during mid-day trading on Friday, reaching $176.16. 1,057,606 shares of the company's stock were exchanged, compared to its average volume of 2,058,031. The company has a fifty day moving average of $173.94 and a 200-day moving average of $207.80. The company has a market cap of $50.49 billion, a P/E ratio of 33.62, a P/E/G ratio of 1.33 and a beta of 0.25. The company has a quick ratio of 0.64, a current ratio of 1.13 and a debt-to-equity ratio of 0.70. Becton, Dickinson and Company has a twelve month low of $163.33 and a twelve month high of $251.99.
Becton, Dickinson and Company (NYSE:BDX - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The medical instruments supplier reported $3.35 earnings per share for the quarter, topping the consensus estimate of $3.28 by $0.07. Becton, Dickinson and Company had a return on equity of 15.99% and a net margin of 7.28%. The company had revenue of $5.27 billion for the quarter, compared to the consensus estimate of $5.35 billion. During the same quarter in the prior year, the business earned $3.17 EPS. Becton, Dickinson and Company's revenue was up 4.5% on a year-over-year basis. Sell-side analysts expect that Becton, Dickinson and Company will post 14.43 EPS for the current year.
Becton, Dickinson and Company Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 9th were given a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date of this dividend was Monday, June 9th. Becton, Dickinson and Company's dividend payout ratio is presently 79.39%.
Insiders Place Their Bets
In other news, EVP Michael David Garrison sold 479 shares of the stock in a transaction dated Wednesday, April 9th. The stock was sold at an average price of $197.28, for a total value of $94,497.12. Following the transaction, the executive vice president owned 4,887 shares in the company, valued at approximately $964,107.36. This represents a 8.93% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP David Shan sold 1,166 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $171.19, for a total value of $199,607.54. Following the sale, the executive vice president owned 4,575 shares of the company's stock, valued at approximately $783,194.25. The trade was a 20.31% decrease in their position. The disclosure for this sale can be found here. 0.36% of the stock is currently owned by company insiders.
Analysts Set New Price Targets
Several research analysts have recently weighed in on the stock. Piper Sandler cut shares of Becton, Dickinson and Company from an "overweight" rating to a "neutral" rating and lowered their price target for the company from $260.00 to $185.00 in a research report on Friday, May 2nd. Citigroup downgraded shares of Becton, Dickinson and Company from a "strong-buy" rating to a "hold" rating and cut their price target for the stock from $217.00 to $185.00 in a report on Thursday, May 22nd. Stifel Nicolaus decreased their price objective on Becton, Dickinson and Company from $280.00 to $224.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Raymond James Financial downgraded Becton, Dickinson and Company from an "outperform" rating to a "market perform" rating in a research report on Friday, May 2nd. Finally, Wells Fargo & Company lowered shares of Becton, Dickinson and Company from an "overweight" rating to an "equal weight" rating in a report on Thursday, May 1st. Eight analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $219.22.
View Our Latest Stock Analysis on Becton, Dickinson and Company
About Becton, Dickinson and Company
(
Free Report)
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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