Citigroup Inc. Grows Stock Holdings in Becton, Dickinson and Company (NYSE:BDX)

Key Points

• Citigroup Inc. significantly increased its holdings in Becton, Dickinson and Company, raising its stake by 166.7% to a total of 381,633 shares, valued at approximately $87.4 million as of the latest reporting period.
• Analyst ratings for Becton, Dickinson show a mix of upgrades and downgrades, with current consensus ratings leaning towards "Hold" and a target price averaging $211.33.
• Becton, Dickinson and Company reported earnings of $3.68 per share for the last quarter, surpassing estimates, with revenue increasing by 10.4% year-over-year to $5.51 billion.

Citigroup Inc. increased its holdings in Becton, Dickinson and Company (NYSE:BDX - Free Report) by 166.7% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 381,633 shares of the medical instruments supplier's stock after buying an additional 238,549 shares during the period. Citigroup Inc. owned 0.13% of Becton, Dickinson and Company worth $87,417,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in BDX. Brighton Jones LLC raised its position in shares of Becton, Dickinson and Company by 98.2% in the fourth quarter. Brighton Jones LLC now owns 1,770 shares of the medical instruments supplier's stock worth $401,000 after buying an additional 877 shares in the last quarter. Hara Capital LLC increased its stake in Becton, Dickinson and Company by 26.4% in the fourth quarter. Hara Capital LLC now owns 335 shares of the medical instruments supplier's stock valued at $76,000 after acquiring an additional 70 shares during the last quarter. DRW Securities LLC bought a new position in Becton, Dickinson and Company in the fourth quarter valued at $227,000. Phoenix Financial Ltd. bought a new position in Becton, Dickinson and Company in the fourth quarter valued at $208,000. Finally, Legacy Financial Advisors Inc. bought a new position in Becton, Dickinson and Company in the fourth quarter valued at $216,000. Hedge funds and other institutional investors own 86.97% of the company's stock.

Becton, Dickinson and Company Trading Up 0.6%

Shares of NYSE:BDX traded up $1.16 on Wednesday, reaching $196.12. 2,669,717 shares of the company traded hands, compared to its average volume of 2,680,373. The business's 50-day simple moving average is $176.76 and its 200 day simple moving average is $198.04. Becton, Dickinson and Company has a 52 week low of $163.33 and a 52 week high of $251.99. The stock has a market capitalization of $56.21 billion, a P/E ratio of 35.27, a price-to-earnings-growth ratio of 1.44 and a beta of 0.20. The company has a current ratio of 1.10, a quick ratio of 0.62 and a debt-to-equity ratio of 0.69.

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

Becton, Dickinson and Company Dividend Announcement

The firm 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 dividend yield of 2.1%. Becton, Dickinson and Company's dividend payout ratio (DPR) is presently 74.82%.

Insider Buying and Selling

In related news, EVP Michael David Garrison sold 1,185 shares of the firm's stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $180.29, for a total value of $213,643.65. Following the sale, the executive vice president directly 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 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 firm's stock in a transaction dated 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 sale, the director directly owned 23,143 shares in the company, valued at $4,450,398.90. The trade was a 3.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,214 shares of company stock valued at $579,206 over the last ninety days. 0.36% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on BDX shares. Stifel Nicolaus reduced their target price on Becton, Dickinson and Company from $280.00 to $224.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. William Blair cut Becton, Dickinson and Company from an "outperform" rating to a "market perform" rating in a research note on Thursday, May 1st. Wall Street Zen raised Becton, Dickinson and Company from a "hold" rating to a "buy" rating in a research note on Saturday. Morgan Stanley reaffirmed an "overweight" rating and set a $197.00 price objective (up from $196.00) on shares of Becton, Dickinson and Company in a research note on Monday. Finally, Piper Sandler reaffirmed a "neutral" rating and set a $200.00 price objective (up from $185.00) on shares of Becton, Dickinson and Company in a research note on Friday, August 8th. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $211.44.

Becton, Dickinson and 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.