Becton, Dickinson and Company $BDX Stake Cut by Chesley Taft & Associates LLC

Key Points

• Chesley Taft & Associates LLC reduced its position in Becton, Dickinson and Company by 48%, holding 35,650 shares worth approximately $6.14 million at the end of the second quarter.
• Major institutional investors, including Vanguard and T. Rowe Price, have increased their holdings, with Vanguard owning over 28 million shares valued at over $6.41 billion.
• Becton, Dickinson and Company reported $3.68 EPS, beating estimates, and set its FY 2025 guidance at 14.300-14.450 EPS, indicating growth potential.

Chesley Taft & Associates LLC lowered its holdings in Becton, Dickinson and Company (NYSE:BDX - Free Report) by 48.0% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 35,650 shares of the medical instruments supplier's stock after selling 32,872 shares during the period. Chesley Taft & Associates LLC's holdings in Becton, Dickinson and Company were worth $6,141,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Saudi Central Bank purchased a new stake in shares of Becton, Dickinson and Company during the first quarter worth $26,000. Smallwood Wealth Investment Management LLC purchased a new stake in shares of Becton, Dickinson and Company during the first quarter worth $27,000. Alpine Bank Wealth Management purchased a new stake in shares of Becton, Dickinson and Company during the first quarter worth $29,000. REAP Financial Group LLC increased its position in shares of 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 acquiring an additional 55 shares during the period. Finally, Cornerstone Planning Group LLC increased its position in shares of 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 acquiring an additional 99 shares during the period. Hedge funds and other institutional investors own 86.97% of the company's stock.

Insider Transactions at Becton, Dickinson and Company

In related news, Director Claire Fraser sold 917 shares of the company's stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $187.50, for a total transaction of $171,937.50. Following the transaction, the director owned 22,226 shares of the company's stock, valued at approximately $4,167,375. This represents a 3.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Michael David Garrison sold 1,185 shares of the business's stock in a transaction on Friday, July 18th. The shares were 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 of the company's stock, valued at $881,077.23. This trade represents a 19.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,965 shares of company stock valued at $551,536. Insiders own 0.36% of the company's stock.

Wall Street Analyst Weigh In

BDX has been the subject of a number of analyst reports. Barclays lowered their target price on shares of Becton, Dickinson and Company from $261.00 to $241.00 and set an "overweight" rating for the company in a research note on Tuesday, June 3rd. Morgan Stanley upped their price target on Becton, Dickinson and Company from $196.00 to $197.00 and gave the company an "overweight" rating in a report on Monday, August 11th. Piper Sandler restated a "neutral" rating and set a $200.00 price objective (up previously from $185.00) on shares of Becton, Dickinson and Company in a research report on Friday, August 8th. Citigroup cut Becton, Dickinson and Company from a "strong-buy" rating to a "hold" rating and decreased their target price for the company from $217.00 to $185.00 in a research report on Thursday, May 22nd. Finally, Argus boosted their price objective on Becton, Dickinson and Company from $220.00 to $230.00 in a research note on Monday. Four equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $213.30.

Becton, Dickinson and Company Price Performance

Becton, Dickinson and Company stock traded down $1.10 during mid-day trading on Friday, reaching $187.27. The company had a trading volume of 2,750,943 shares, compared to its average volume of 2,546,861. Becton, Dickinson and Company has a 1 year low of $163.33 and a 1 year high of $251.99. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.10 and a quick ratio of 0.62. The company has a market capitalization of $53.68 billion, a P/E ratio of 33.68, a P/E/G ratio of 1.51 and a beta of 0.27. The stock's 50-day simple moving average is $187.42 and its 200-day simple moving average is $190.65.

Becton, Dickinson and Company (NYSE:BDX - Get Free Report) last issued 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 during the quarter, compared to analysts' expectations of $5.50 billion. Becton, Dickinson and Company had a net margin of 7.51% and a return on equity of 16.23%. The firm's quarterly revenue was up 10.4% compared to the same quarter last year. During the same period last year, the company posted $3.50 earnings per share. Becton, Dickinson and Company has set its FY 2025 guidance at 14.300-14.450 EPS. On average, equities analysts predict 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. Investors of record on Monday, September 8th will be paid 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 2.2%. Becton, Dickinson and Company's payout ratio is presently 74.82%.

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.