Lord Abbett & CO. LLC Boosts Stake in Becton, Dickinson and Company $BDX

Key Points

• Lord Abbett & CO. LLC increased its stake in Becton, Dickinson and Company by 8.2%, acquiring an additional 13,687 shares, bringing its total ownership to approximately 180,948 shares valued at $41.4 million.
• Becton, Dickinson reported a quarterly revenue of $5.51 billion, a 10.4% increase year-over-year, and exceeded earnings expectations by 28 cents per share.
• The company announced a quarterly dividend of $1.04 per share, which translates to an annual yield of 2.1%, with the ex-dividend date set for September 8th.

Lord Abbett & CO. LLC lifted its stake in Becton, Dickinson and Company (NYSE:BDX - Free Report) by 8.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 180,948 shares of the medical instruments supplier's stock after acquiring an additional 13,687 shares during the period. Lord Abbett & CO. LLC owned 0.06% of Becton, Dickinson and Company worth $41,448,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BDX. Smallwood Wealth Investment Management LLC purchased a new position in Becton, Dickinson and Company during the 1st quarter worth $27,000. REAP Financial Group LLC grew its stake in 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 purchasing an additional 55 shares during the last quarter. Alpine Bank Wealth Management acquired a new position in shares of Becton, Dickinson and Company in the 1st quarter valued at about $29,000. Cornerstone Planning Group LLC lifted its holdings in shares of 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 valued at $29,000 after buying an additional 99 shares during the period. Finally, Nexus Investment Management ULC acquired a new position in shares of Becton, Dickinson and Company in the 1st quarter valued at about $34,000. 86.97% of the stock is currently owned by hedge funds and other institutional investors.

Becton, Dickinson and Company Stock Up 1.5%

Shares of NYSE BDX traded up $2.8440 during mid-day trading on Tuesday, hitting $197.8440. The company had a trading volume of 1,250,348 shares, compared to its average volume of 2,661,929. The company has a market capitalization of $56.71 billion, a PE ratio of 35.59, a price-to-earnings-growth 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. Becton, Dickinson and Company has a 1-year low of $163.33 and a 1-year high of $251.99. The business's 50-day simple moving average is $178.66 and its 200 day simple moving average is $196.21.

Becton, Dickinson and Company (NYSE:BDX - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The medical instruments supplier reported $3.68 earnings per share for the quarter, beating analysts' consensus estimates of $3.40 by $0.28. The company had revenue of $5.51 billion for the quarter, compared to analysts' expectations of $5.50 billion. Becton, Dickinson and Company had a return on equity of 16.23% and a net margin of 7.51%.Becton, Dickinson and Company's quarterly revenue was up 10.4% on a year-over-year basis. During the same period last year, the firm earned $3.50 earnings per share. Becton, Dickinson and Company has set its FY 2025 guidance at 14.300-14.450 EPS. On average, 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 company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders 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 annualized dividend and a dividend yield of 2.1%. Becton, Dickinson and Company's dividend payout ratio (DPR) is presently 74.82%.

Analyst Upgrades and Downgrades

BDX has been the subject of a number of analyst reports. Wall Street Zen raised Becton, Dickinson and Company from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Raymond James Financial cut Becton, Dickinson and Company from an "outperform" rating to a "market perform" rating in a report on Friday, May 2nd. Barclays dropped their price target on 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. The Goldman Sachs Group lowered Becton, Dickinson and Company from a "buy" rating to a "neutral" rating and set a $192.00 price target for the company. in a research report on Friday, May 2nd. Finally, Citigroup lowered Becton, Dickinson and Company from a "strong-buy" rating to a "hold" rating and lowered their price objective for the stock from $217.00 to $185.00 in a research report on Thursday, May 22nd. Four research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $211.44.

Insider Buying and Selling

In other Becton, Dickinson and Company news, EVP David Shan sold 1,166 shares of Becton, Dickinson and Company stock in a transaction that occurred 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 owned 4,575 shares of the company's stock, valued at approximately $783,194.25. The trade was a 20.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Michael David Garrison sold 1,185 shares of the stock in a transaction that occurred on Friday, July 18th. The stock was 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 of the company's stock, valued at approximately $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. Insiders have sold a total of 3,214 shares of company stock valued at $579,206 over the last quarter. 0.36% of the stock is currently owned by insiders.

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.