Commerce Bank Has $13.52 Million Stake in Becton, Dickinson and Company (NYSE:BDX)

Key Points

• Commerce Bank has reduced its stake in Becton, Dickinson and Company by 5.9%, owning 59,000 shares valued at approximately $13.5 million following the sale of 3,696 shares.
• Institutional investors now hold 86.97% of Becton, Dickinson's stock, with T. Rowe Price increasing its stake by 36.1% to over 12 million shares valued at nearly $2.75 billion.
• The company recently announced a quarterly dividend of $1.04 per share, translating to an annualized dividend yield of 2.4%, with an upcoming ex-dividend date set for September 8th.

Commerce Bank decreased its stake in shares of Becton, Dickinson and Company (NYSE:BDX - Free Report) by 5.9% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 59,000 shares of the medical instruments supplier's stock after selling 3,696 shares during the period. Commerce Bank's holdings in Becton, Dickinson and Company were worth $13,515,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. Brighton Jones LLC boosted its stake in Becton, Dickinson and Company by 98.2% during the 4th quarter. Brighton Jones LLC now owns 1,770 shares of the medical instruments supplier's stock valued at $401,000 after purchasing an additional 877 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in Becton, Dickinson and Company by 50.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 82,110 shares of the medical instruments supplier's stock valued at $18,808,000 after purchasing an additional 27,581 shares during the period. Foster Victor Wealth Advisors LLC bought a new stake in Becton, Dickinson and Company during the 1st quarter valued at approximately $6,406,000. GAMMA Investing LLC boosted its stake in Becton, Dickinson and Company by 29.9% during the 1st quarter. GAMMA Investing LLC now owns 3,250 shares of the medical instruments supplier's stock valued at $744,000 after purchasing an additional 748 shares during the period. Finally, Ritholtz Wealth Management bought a new stake in Becton, Dickinson and Company during the 1st quarter valued at approximately $224,000. Institutional investors and hedge funds own 86.97% of the company's stock.

Insider Activity at Becton, Dickinson and Company

In related news, EVP David Shan sold 1,166 shares of the firm's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $171.19, for a total transaction of $199,607.54. Following the completion of the sale, the executive vice president directly owned 4,575 shares of the company's stock, valued at $783,194.25. This trade represents a 20.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Michael David Garrison sold 1,185 shares of the firm'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 sale, the executive vice president directly owned 4,887 shares of the company's stock, valued at $881,077.23. This represents a 19.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.36% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on BDX. Wall Street Zen downgraded Becton, Dickinson and Company from a "buy" rating to a "hold" rating in a research report on Friday, May 2nd. Piper Sandler downgraded Becton, Dickinson and Company from an "overweight" rating to a "neutral" rating and reduced their price objective for the stock from $260.00 to $185.00 in a research report on Friday, May 2nd. The Goldman Sachs Group downgraded Becton, Dickinson and Company from a "buy" rating to a "neutral" rating and set a $192.00 price objective for the company. in a research report on Friday, May 2nd. Citigroup downgraded Becton, Dickinson and Company from a "strong-buy" rating to a "hold" rating and reduced their price objective for the stock from $217.00 to $185.00 in a research report on Thursday, May 22nd. Finally, Wells Fargo & Company downgraded Becton, Dickinson and Company from an "overweight" rating to an "equal weight" rating in a research report on Thursday, May 1st. Eight investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $212.88.

Becton, Dickinson and Company Price Performance

Shares of Becton, Dickinson and Company stock traded down $2.06 during midday trading on Friday, hitting $176.19. 4,688,991 shares of the company were exchanged, compared to its average volume of 3,049,202. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.13 and a quick ratio of 0.64. The firm has a market cap of $50.50 billion, a P/E ratio of 33.62, a PEG ratio of 1.33 and a beta of 0.20. Becton, Dickinson and Company has a 52 week low of $163.33 and a 52 week high of $251.99. The firm has a 50 day simple moving average of $174.93 and a 200-day simple moving average of $200.40.

Becton, Dickinson and Company (NYSE:BDX - Get Free Report) last posted its earnings results on Thursday, May 1st. The medical instruments supplier reported $3.35 EPS for the quarter, topping the consensus estimate of $3.28 by $0.07. The business had revenue of $5.27 billion during the quarter, compared to the consensus estimate of $5.35 billion. Becton, Dickinson and Company had a return on equity of 15.99% and a net margin of 7.28%. Becton, Dickinson and Company's revenue was up 4.5% on a year-over-year basis. During the same quarter last year, the company earned $3.17 EPS. Research analysts forecast that Becton, Dickinson and Company will post 14.43 earnings per share for the current year.

Becton, Dickinson and Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 8th will be given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Monday, September 8th. Becton, Dickinson and Company's dividend payout ratio (DPR) is 79.39%.

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.