Becton, Dickinson and Company (NYSE:BDX) Shares Sold by Eastern Bank

Key Points

• Eastern Bank significantly reduced its holdings in Becton, Dickinson and Company by 64.6%, now owning 5,595 shares worth approximately $1.28 million.
• Multiple large investors increased their stakes in the company, with Federated Hermes Inc. boosting its position by 420.2% to hold 87,223 shares, valued at nearly $20 million.
• Analysts have downgraded Becton, Dickinson and Company, with Morgan Stanley and Piper Sandler cutting their price targets significantly, reflecting a cautious outlook on the stock.

Eastern Bank trimmed its position in Becton, Dickinson and Company (NYSE:BDX - Free Report) by 64.6% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 5,595 shares of the medical instruments supplier's stock after selling 10,216 shares during the period. Eastern Bank's holdings in Becton, Dickinson and Company were worth $1,282,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Smallwood Wealth Investment Management LLC bought a new position in Becton, Dickinson and Company in the 1st quarter worth approximately $27,000. REAP Financial Group LLC raised its position in shares of Becton, Dickinson and Company by 75.3% during the 4th quarter. REAP Financial Group LLC now owns 128 shares of the medical instruments supplier's stock valued at $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 in the 1st quarter worth $29,000. Cornerstone Planning Group LLC raised its position in Becton, Dickinson and Company by 341.4% in the 1st quarter. Cornerstone Planning Group LLC now owns 128 shares of the medical instruments supplier's stock worth $29,000 after purchasing an additional 99 shares during the period. Finally, Nexus Investment Management ULC purchased a new position in shares of Becton, Dickinson and Company in the first quarter valued at about $34,000. 86.97% of the stock is owned by institutional investors.

Becton, Dickinson and Company Stock Down 1.2%

NYSE:BDX traded down $2.06 during midday trading on Friday, reaching $176.19. 4,688,991 shares of the stock traded hands, compared to its average volume of 2,814,753. The stock has a market capitalization of $50.50 billion, a PE ratio of 33.62, a price-to-earnings-growth ratio of 1.35 and a beta of 0.25. Becton, Dickinson and Company has a 12-month low of $163.33 and a 12-month high of $251.99. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.64 and a current ratio of 1.13. The business has a 50-day moving average of $174.93 and a two-hundred day moving average of $200.87.

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

Becton, Dickinson and Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 8th will be issued a dividend of $1.04 per share. The ex-dividend date of this dividend is Monday, September 8th. This represents a $4.16 dividend on an annualized basis and a yield of 2.4%. Becton, Dickinson and Company's dividend payout ratio is 79.39%.

Insiders Place Their Bets

In other Becton, Dickinson and Company news, EVP Michael David Garrison sold 1,185 shares of the company's stock in a transaction on Friday, July 18th. The shares were sold at an average price of $180.29, for a total transaction of $213,643.65. Following the completion of the transaction, the executive vice president directly owned 4,887 shares in the company, valued at approximately $881,077.23. This represents a 19.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP David Shan sold 1,166 shares of the company'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 sale, the executive vice president directly owned 4,575 shares of the company's stock, valued at $783,194.25. The trade was a 20.31% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.36% of the company's stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Raymond James Financial lowered shares of Becton, Dickinson and Company from an "outperform" rating to a "market perform" rating in a research note on Friday, May 2nd. Barclays dropped their price target on shares of Becton, Dickinson and Company from $261.00 to $241.00 and set an "overweight" rating for the company in a research report on Tuesday, June 3rd. Wells Fargo & Company downgraded shares of Becton, Dickinson and Company from an "overweight" rating to an "equal weight" rating in a research note on Thursday, May 1st. Morgan Stanley reduced their target price on shares of Becton, Dickinson and Company from $280.00 to $196.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 6th. Finally, Citigroup lowered shares of 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. Eight investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $219.22.

Becton, Dickinson and Company 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.