GQG Partners LLC Takes Position in Becton, Dickinson and Company (NYSE:BDX)

Key Points

• GQG Partners LLC has acquired a significant new position in Becton, Dickinson and Company, purchasing over 3 million shares valued at approximately $689.8 million, representing 1.05% of the company.
• Recent analysis from research firms has resulted in a mix of ratings for BDX, with Bank of America downgrading the stock to a "neutral" rating while others, like Wall Street Zen, upgraded it to a "buy" rating.
• Becton, Dickinson reported strong quarterly earnings, with EPS of $3.68 and revenue of $5.51 billion, exceeding analysts' estimates and reflecting a year-over-year revenue growth of 10.4%.

GQG Partners LLC acquired a new position in shares of Becton, Dickinson and Company (NYSE:BDX - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 3,011,583 shares of the medical instruments supplier's stock, valued at approximately $689,833,000. GQG Partners LLC owned 1.05% of Becton, Dickinson and Company as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Leith Wheeler Investment Counsel Ltd. acquired a new stake in Becton, Dickinson and Company during the first quarter worth about $31,225,000. Financial Network Wealth Advisors LLC raised its stake in Becton, Dickinson and Company by 23.9% during the first quarter. Financial Network Wealth Advisors LLC now owns 352 shares of the medical instruments supplier's stock worth $81,000 after acquiring an additional 68 shares during the period. Tokio Marine Asset Management Co. Ltd. raised its stake in Becton, Dickinson and Company by 8.1% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 8,257 shares of the medical instruments supplier's stock worth $1,891,000 after acquiring an additional 621 shares during the period. National Pension Service raised its stake in Becton, Dickinson and Company by 7.6% during the first quarter. National Pension Service now owns 707,900 shares of the medical instruments supplier's stock worth $162,152,000 after acquiring an additional 50,190 shares during the period. Finally, Clal Insurance Enterprises Holdings Ltd raised its stake in Becton, Dickinson and Company by 378.9% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 182 shares of the medical instruments supplier's stock worth $42,000 after acquiring an additional 144 shares during the period. Institutional investors and hedge funds own 86.97% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on BDX. Bank of America lowered shares of Becton, Dickinson and Company from a "buy" rating to a "neutral" rating and set a $190.00 price objective on the stock. in a research note on Thursday, May 1st. Wall Street Zen upgraded shares of Becton, Dickinson and Company from a "hold" rating to a "buy" rating in a research note on Saturday. Stifel Nicolaus dropped their price target on shares of 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. 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. Finally, Wells Fargo & Company raised their price target on shares of Becton, Dickinson and Company from $172.00 to $184.00 and gave the company an "equal weight" rating in a research note on Friday, August 8th. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $211.44.

Becton, Dickinson and Company Price Performance

NYSE BDX opened at $194.86 on Wednesday. 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 0.69, a current ratio of 1.10 and a quick ratio of 0.62. The firm has a market capitalization of $55.85 billion, a PE ratio of 35.05, a P/E/G ratio of 1.44 and a beta of 0.20. The company's 50 day simple moving average is $176.76 and its 200 day simple moving average is $198.04.

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

Becton, Dickinson and Company Announces Dividend

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 issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Monday, September 8th. Becton, Dickinson and Company's dividend payout ratio (DPR) is presently 74.82%.

Insider Buying and Selling

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 completion of the transaction, the director 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Michael David Garrison sold 1,185 shares of the firm'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 completion of the transaction, 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 position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,214 shares of company stock worth $579,206. 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.

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