Becton, Dickinson and Company (NYSE:BDX) Stake Lessened by Gulf International Bank UK Ltd

Key Points

• Gulf International Bank UK Ltd reduced its stake in Becton, Dickinson and Company by 24.2% in the first quarter, now holding 16,606 shares valued at approximately $3.8 million.
• Several hedge funds have adjusted their positions in Becton, Dickinson, including Smallwood Wealth Investment Management and Cornerstone Planning Group LLC, both initiating or significantly increasing their investments in the company.
• Becton, Dickinson reported EPS of $3.68 for the last quarter, exceeding analysts' estimates, and announced a quarterly dividend of $1.04 per share, reflecting a 2.1% yield.

Gulf International Bank UK Ltd cut its stake in shares of Becton, Dickinson and Company (NYSE:BDX - Free Report) by 24.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,606 shares of the medical instruments supplier's stock after selling 5,290 shares during the quarter. Gulf International Bank UK Ltd's holdings in Becton, Dickinson and Company were worth $3,803,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in BDX. National Pension Service boosted its position in shares of 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 buying an additional 50,190 shares during the period. Clal Insurance Enterprises Holdings Ltd boosted its position in shares of 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 buying an additional 144 shares during the period. Resona Asset Management Co. Ltd. boosted its position in shares of Becton, Dickinson and Company by 9.1% during the first quarter. Resona Asset Management Co. Ltd. now owns 100,511 shares of the medical instruments supplier's stock worth $22,990,000 after buying an additional 8,389 shares during the period. Rathbones Group PLC boosted its position in shares of Becton, Dickinson and Company by 12.7% during the first quarter. Rathbones Group PLC now owns 123,173 shares of the medical instruments supplier's stock worth $28,214,000 after buying an additional 13,839 shares during the period. Finally, Nuance Investments LLC boosted its position in shares of Becton, Dickinson and Company by 98.3% during the first quarter. Nuance Investments LLC now owns 63,551 shares of the medical instruments supplier's stock worth $14,557,000 after buying an additional 31,502 shares during the period. 86.97% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on BDX shares. Morgan Stanley boosted their price objective on Becton, Dickinson and Company from $196.00 to $197.00 and gave the stock an "overweight" rating in a research report on Monday, August 11th. Piper Sandler reiterated a "neutral" rating and set a $200.00 price objective (up from $185.00) on shares of Becton, Dickinson and Company in a research report on Friday, August 8th. Stifel Nicolaus reduced their price objective on Becton, Dickinson and Company from $280.00 to $224.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Raymond James Financial lowered 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 increased their price target on 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, Becton, Dickinson and Company presently has a consensus rating of "Hold" and a consensus target price of $211.44.

Insider Transactions at Becton, Dickinson and Company

In other news, EVP Michael David Garrison sold 1,185 shares of the firm's stock in a transaction 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 sale, 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 value of $199,607.54. Following the sale, the executive vice president directly owned 4,575 shares of the company's stock, valued at approximately $783,194.25. This represents a 20.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,214 shares of company stock valued at $579,206 in the last three months. 0.36% of the stock is currently owned by corporate insiders.

Becton, Dickinson and Company Price Performance

Shares of BDX traded up $0.88 during trading hours on Friday, hitting $195.88. 2,616,848 shares of the company were exchanged, compared to its average volume of 2,862,269. The company has a market capitalization of $56.15 billion, a PE ratio of 35.23, a PEG ratio of 1.47 and a beta of 0.20. 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 fifty day simple moving average of $178.20 and a 200-day simple moving average of $196.94. Becton, Dickinson and Company has a one year low of $163.33 and a one year high of $251.99.

Becton, Dickinson and Company (NYSE:BDX - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The medical instruments supplier reported $3.68 earnings per share for the quarter, topping the consensus estimate of $3.40 by $0.28. The business had revenue of $5.51 billion during the quarter, compared to analyst estimates of $5.50 billion. Becton, Dickinson and Company had a return on equity of 16.23% and a net margin of 7.51%. The company's revenue was up 10.4% compared to the same quarter last year. During the same period last year, the company posted $3.50 EPS. As a group, sell-side analysts predict 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 disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 8th will be paid a dividend of $1.04 per share. The ex-dividend date of this dividend is Monday, September 8th. This represents a $4.16 annualized dividend and a dividend yield of 2.1%. Becton, Dickinson and Company's dividend payout ratio (DPR) is currently 74.82%.

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.