Becton, Dickinson and Company (NYSE:BDX) Shares Sold by Elefante Mark B

Key Points

• Elefante Mark B significantly reduced its stake in Becton, Dickinson and Company by 56.4%, now holding 2,658 shares valued at $609,000.
• Becton, Dickinson announced a quarterly dividend of $1.04, yielding 2.24%, with a payout ratio of 79.39%.
• Recent analyst reports show a trend of downgrades for Becton, Dickinson's stock, with a consensus rating of "Hold" and a price target of $219.22.

Elefante Mark B decreased its position in Becton, Dickinson and Company (NYSE:BDX - Free Report) by 56.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,658 shares of the medical instruments supplier's stock after selling 3,436 shares during the quarter. Elefante Mark B's holdings in Becton, Dickinson and Company were worth $609,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. T. Rowe Price Investment Management Inc. grew its position in Becton, Dickinson and Company by 36.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 12,126,707 shares of the medical instruments supplier's stock valued at $2,751,187,000 after acquiring an additional 3,219,317 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in Becton, Dickinson and Company by 10.8% in the first quarter. Massachusetts Financial Services Co. MA now owns 6,843,856 shares of the medical instruments supplier's stock valued at $1,567,654,000 after acquiring an additional 667,957 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Becton, Dickinson and Company by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 6,351,537 shares of the medical instruments supplier's stock valued at $1,437,161,000 after buying an additional 66,024 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Becton, Dickinson and Company by 6.7% during the 4th quarter. Invesco Ltd. now owns 4,265,638 shares of the medical instruments supplier's stock valued at $967,745,000 after buying an additional 267,436 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC boosted its stake in shares of Becton, Dickinson and Company by 392.4% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 3,416,665 shares of the medical instruments supplier's stock valued at $775,139,000 after buying an additional 2,722,829 shares during the last quarter. Institutional investors and hedge funds own 86.97% of the company's stock.

Analysts Set New Price Targets

BDX has been the subject of several research analyst reports. Wells Fargo & Company cut Becton, Dickinson and Company from an "overweight" rating to an "equal weight" rating in a research note on Thursday, May 1st. Citigroup cut Becton, Dickinson and Company from a "strong-buy" rating to a "hold" rating and reduced their target price for the company from $217.00 to $185.00 in a research note on Thursday, May 22nd. Morgan Stanley reduced their target price on Becton, Dickinson and Company from $280.00 to $196.00 and set an "overweight" rating for the company in a research note on Tuesday, May 6th. Stifel Nicolaus reduced their target price on Becton, Dickinson and Company from $280.00 to $224.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Finally, Bank of America cut Becton, Dickinson and Company from a "buy" rating to a "neutral" rating and set a $190.00 target price for the company. in a research note on Thursday, May 1st. Eight equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $219.22.

Becton, Dickinson and Company Stock Performance

BDX stock traded down $0.43 during mid-day trading on Monday, reaching $184.89. The company had a trading volume of 599,039 shares, compared to its average volume of 2,627,673. The company has a quick ratio of 0.64, a current ratio of 1.13 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $52.99 billion, a P/E ratio of 35.29, a P/E/G ratio of 1.40 and a beta of 0.25. Becton, Dickinson and Company has a one year low of $163.33 and a one year high of $251.99. The stock's 50-day simple moving average is $174.31 and its two-hundred day simple moving average is $202.31.

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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.28 by $0.07. The company had revenue of $5.27 billion for the quarter, compared to analysts' expectations of $5.35 billion. Becton, Dickinson and Company had a return on equity of 15.99% and a net margin of 7.28%. The firm's quarterly revenue was up 4.5% compared to the same quarter last year. During the same period last year, the business posted $3.17 earnings per share. Research analysts anticipate that Becton, Dickinson and Company will post 14.43 EPS 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. Shareholders of record on Monday, September 8th will be paid a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date is Monday, September 8th. Becton, Dickinson and Company's payout ratio is 79.39%.

Insiders Place Their Bets

In other 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 transaction, the executive vice president directly owned 4,575 shares of the company's stock, valued at approximately $783,194.25. This trade represents a 20.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 transaction, the executive vice president directly owned 4,887 shares in the company, 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. 0.36% of the stock is currently owned by company insiders.

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.