Gabelli Funds LLC Cuts Position in Becton, Dickinson and Company $BDX

Key Points

• Gabelli Funds LLC reduced its stake in Becton, Dickinson and Company by 15.4%, selling 3,900 shares in the first quarter, and now holds 21,400 shares valued at approximately $4.9 million.
• Insider trading saw EVP Michael David Garrison and Director Claire Fraser sell a combined total of 2,048 shares, indicating a decrease in personal holdings as both transactions contributed to a decrease in ownership.
• Becton, Dickinson and Company reported a $3.68 earnings per share last quarter, surpassing estimates, while also announcing a quarterly dividend of $1.04 per share, reflecting a 2.2% dividend yield.

Gabelli Funds LLC lowered its stake in shares of Becton, Dickinson and Company (NYSE:BDX - Free Report) by 15.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 21,400 shares of the medical instruments supplier's stock after selling 3,900 shares during the quarter. Gabelli Funds LLC's holdings in Becton, Dickinson and Company were worth $4,902,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its holdings in shares of Becton, Dickinson and Company by 98.2% during the fourth quarter. Brighton Jones LLC now owns 1,770 shares of the medical instruments supplier's stock worth $401,000 after purchasing an additional 877 shares during the period. Hara Capital LLC boosted its holdings in shares of 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 in the last quarter. AQR Capital Management LLC increased its stake in shares of Becton, Dickinson and Company by 3.6% during the fourth quarter. AQR Capital Management LLC now owns 408,097 shares of the medical instruments supplier's stock worth $92,585,000 after acquiring an additional 14,258 shares during the period. Voleon Capital Management LP purchased a new position in Becton, Dickinson and Company during the fourth quarter worth about $1,583,000. Finally, Freestone Grove Partners LP acquired a new stake in Becton, Dickinson and Company in the fourth quarter valued at about $99,627,000. 86.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on BDX. Wells Fargo & Company raised their price target on Becton, Dickinson and Company from $172.00 to $184.00 and gave the company an "equal weight" rating in a report on Friday, August 8th. Barclays decreased their target price on shares of Becton, Dickinson and Company from $261.00 to $241.00 and set an "overweight" rating on the stock in a research report on Tuesday, June 3rd. Wall Street Zen upgraded shares of Becton, Dickinson and Company from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Citigroup downgraded shares of Becton, Dickinson and Company from a "strong-buy" rating to a "hold" rating and decreased their price objective for the stock from $217.00 to $185.00 in a report on Thursday, May 22nd. Finally, Piper Sandler reaffirmed a "neutral" rating and issued a $200.00 target price (up from $185.00) on shares of Becton, Dickinson and Company in a report on Friday, August 8th. Four equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $211.44.

Becton, Dickinson and Company Price Performance

Becton, Dickinson and Company stock traded down $3.95 during midday trading on Tuesday, reaching $189.03. 706,659 shares of the company were exchanged, compared to its average volume of 2,606,518. The firm's 50-day simple moving average is $183.53 and its 200-day simple moving average is $193.61. Becton, Dickinson and Company has a 1 year low of $163.33 and a 1 year high of $251.99. The company has a market capitalization of $54.18 billion, a price-to-earnings ratio of 33.99, a P/E/G ratio of 1.44 and a beta of 0.27. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.62 and a current ratio of 1.10.

Becton, Dickinson and Company (NYSE:BDX - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The medical instruments supplier reported $3.68 EPS for the quarter, topping analysts' consensus estimates of $3.40 by $0.28. The business had revenue of $5.51 billion during the quarter, compared to the consensus estimate of $5.50 billion. Becton, Dickinson and Company had a net margin of 7.51% and a return on equity of 16.23%. The company's quarterly revenue was up 10.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.50 earnings per share. Becton, Dickinson and Company has set its FY 2025 guidance at 14.300-14.450 EPS. On average, analysts anticipate that Becton, Dickinson and Company will post 14.43 EPS for the current year.

Becton, Dickinson and Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 8th will be given a $1.04 dividend. The ex-dividend date of this dividend is Monday, September 8th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 2.2%. Becton, Dickinson and Company's payout ratio is currently 74.82%.

Insider Buying and Selling at Becton, Dickinson and Company

In related news, Director Claire Fraser sold 863 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $192.30, for a total value of $165,954.90. Following the sale, the director directly owned 23,143 shares of the company's stock, valued at approximately $4,450,398.90. This trade represents a 3.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Michael David Garrison sold 1,185 shares of the company's stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $180.29, for a total transaction of $213,643.65. Following the transaction, 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 position. The disclosure for this sale can be found here. Corporate insiders own 0.36% of the company's stock.

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.