Becton, Dickinson and Company $BDX Shares Sold by Canada Pension Plan Investment Board

Key Points

• The Canada Pension Plan Investment Board has reduced its stake in Becton, Dickinson and Company by 60.1%, selling 246,575 shares and retaining 163,753 shares worth approximately $37.5 million.
• Becton, Dickinson reported a quarterly earnings of $3.68 per share, surpassing the estimate of $3.40, with a revenue of $5.51 billion, a 10.4% increase year-over-year.
• The company declared a quarterly dividend of $1.04 per share, with a dividend yield of 2.2%, to be paid out on September 30th.

Canada Pension Plan Investment Board reduced its holdings in Becton, Dickinson and Company (NYSE:BDX - Free Report) by 60.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 163,753 shares of the medical instruments supplier's stock after selling 246,575 shares during the quarter. Canada Pension Plan Investment Board owned about 0.06% of Becton, Dickinson and Company worth $37,509,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of BDX. Smallwood Wealth Investment Management LLC acquired a new stake in Becton, Dickinson and Company in the first quarter valued at $27,000. REAP Financial Group LLC increased its position in Becton, Dickinson and Company by 75.3% during the fourth quarter. REAP Financial Group LLC now owns 128 shares of the medical instruments supplier's stock worth $29,000 after buying an additional 55 shares in the last quarter. Alpine Bank Wealth Management purchased a new position in Becton, Dickinson and Company during the first quarter worth $29,000. Cornerstone Planning Group LLC increased its position in Becton, Dickinson and Company by 341.4% during the first quarter. Cornerstone Planning Group LLC now owns 128 shares of the medical instruments supplier's stock worth $29,000 after buying an additional 99 shares in the last quarter. Finally, Kelly Lawrence W & Associates Inc. CA purchased a new position in Becton, Dickinson and Company during the first quarter worth $31,000. 86.97% of the stock is owned by institutional investors and hedge funds.

Becton, Dickinson and Company Stock Up 0.5%

Shares of NYSE:BDX traded up $0.92 during trading on Friday, hitting $192.18. The company's stock had a trading volume of 1,244,162 shares, compared to its average volume of 2,599,230. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.62 and a current ratio of 1.10. Becton, Dickinson and Company has a fifty-two week low of $163.33 and a fifty-two week high of $251.99. The stock's 50-day moving average price is $184.65 and its two-hundred day moving average price is $193.31. The company has a market capitalization of $55.08 billion, a PE ratio of 34.56, a PEG ratio of 1.42 and a beta of 0.27.

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 EPS for the quarter, topping the consensus estimate 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 business 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 firm posted $3.50 earnings per share. The company's 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. As a group, 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 announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 8th will be given a $1.04 dividend. The ex-dividend date is Monday, September 8th. This represents a $4.16 annualized dividend and a dividend yield of 2.2%. Becton, Dickinson and Company's dividend payout ratio (DPR) is presently 74.82%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on BDX. Wall Street Zen raised Becton, Dickinson and Company from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Citigroup downgraded Becton, Dickinson and Company from a "strong-buy" rating to a "hold" rating and reduced their target price for the stock from $217.00 to $185.00 in a research report on Thursday, May 22nd. Wells Fargo & Company increased 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, August 8th. Piper Sandler reiterated a "neutral" rating and set a $200.00 target price (up from $185.00) on shares of Becton, Dickinson and Company in a research report on Friday, August 8th. Finally, Morgan Stanley boosted their price target on Becton, Dickinson and Company from $196.00 to $197.00 and gave the company an "overweight" rating in a research report on Monday, August 11th. Four investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $211.44.

Insider Activity at Becton, Dickinson and Company

In other news, EVP Michael David Garrison sold 1,185 shares of Becton, Dickinson and Company stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $180.29, for a total value of $213,643.65. Following the completion of the transaction, the executive vice president owned 4,887 shares in the company, valued at approximately $881,077.23. This trade represents a 19.52% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Claire Fraser sold 863 shares of Becton, Dickinson and Company stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $192.30, for a total value of $165,954.90. Following the completion of the transaction, the director owned 23,143 shares of the company's stock, valued at approximately $4,450,398.90. The trade was a 3.59% decrease in their position. The disclosure for this sale can be found here. 0.36% of the stock is currently owned by company insiders.

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.