Maridea Wealth Management LLC Takes Position in Becton, Dickinson and Company (NYSE:BDX)

Key Points

• Maridea Wealth Management LLC has made a new investment in Becton, Dickinson and Company (NYSE: BDX), acquiring 1,873 shares valued at approximately $429,000.
• A significant 86.97% of Becton, Dickinson's stock is owned by hedge funds and institutional investors, indicating strong backing from major financial entities.
• Analysts have recently downgraded Becton, Dickinson's stock, with Wells Fargo reducing its rating from "overweight" to "equal weight," reflecting a more cautious outlook on the company's performance.

Maridea Wealth Management LLC purchased a new position in Becton, Dickinson and Company (NYSE:BDX - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 1,873 shares of the medical instruments supplier's stock, valued at approximately $429,000.

Several other hedge funds have also bought and sold shares of BDX. Prosperity Consulting Group LLC grew its holdings in Becton, Dickinson and Company by 64.6% during the 1st quarter. Prosperity Consulting Group LLC now owns 1,801 shares of the medical instruments supplier's stock valued at $413,000 after purchasing an additional 707 shares during the last quarter. University of Texas Texas AM Investment Management Co. bought a new position in Becton, Dickinson and Company during the 1st quarter valued at about $388,000. First National Advisers LLC bought a new position in Becton, Dickinson and Company during the 1st quarter valued at about $272,000. LPL Financial LLC grew its holdings in Becton, Dickinson and Company by 20.2% during the 1st quarter. LPL Financial LLC now owns 358,539 shares of the medical instruments supplier's stock valued at $82,127,000 after purchasing an additional 60,253 shares during the last quarter. Finally, Peak Asset Management LLC boosted its position in Becton, Dickinson and Company by 1.1% in the 1st quarter. Peak Asset Management LLC now owns 47,819 shares of the medical instruments supplier's stock valued at $10,953,000 after buying an additional 528 shares during the period. Hedge funds and other institutional investors own 86.97% of the company's stock.

Becton, Dickinson and Company Stock Performance

Shares of NYSE:BDX traded down $2.73 during midday trading on Friday, reaching $175.52. The company's stock had a trading volume of 3,113,086 shares, compared to its average volume of 2,633,047. The firm has a market capitalization of $50.31 billion, a PE ratio of 33.43, a P/E/G ratio of 1.37 and a beta of 0.25. Becton, Dickinson and Company has a twelve month low of $163.33 and a twelve month high of $251.99. The stock has a fifty day moving average of $174.83 and a 200 day moving average of $201.28. The company has a quick ratio of 0.64, a current ratio of 1.13 and a debt-to-equity ratio of 0.70.

Becton, Dickinson and Company (NYSE:BDX - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The medical instruments supplier reported $3.35 EPS for the quarter, beating the consensus estimate of $3.28 by $0.07. The company had revenue of $5.27 billion for the quarter, compared to analyst estimates of $5.35 billion. Becton, Dickinson and Company had a net margin of 7.28% and a return on equity of 15.99%. The firm's revenue was up 4.5% on a year-over-year basis. During the same quarter last year, the business earned $3.17 earnings per share. On average, equities analysts expect that Becton, Dickinson and Company will post 14.43 EPS for the current fiscal year.

Becton, Dickinson and Company Dividend Announcement

The business also recently announced 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 is Monday, September 8th. This represents a $4.16 annualized dividend and a dividend yield of 2.4%. Becton, Dickinson and Company's dividend payout ratio (DPR) is 79.39%.

Insider Activity

In other news, EVP Michael David Garrison sold 1,185 shares of the firm's stock in a transaction dated 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 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 transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP David Shan sold 1,166 shares of Becton, Dickinson and Company stock in a transaction dated 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 in the company, valued at $783,194.25. This trade represents a 20.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.36% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on BDX shares. Wall Street Zen cut shares of Becton, Dickinson and Company from a "buy" rating to a "hold" rating in a research report on Friday, May 2nd. Stifel Nicolaus dropped their price objective 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. Morgan Stanley dropped their price objective on shares of Becton, Dickinson and Company from $280.00 to $196.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 6th. Raymond James Financial downgraded shares of Becton, Dickinson and Company from an "outperform" rating to a "market perform" rating in a research note on Friday, May 2nd. Finally, Citigroup cut shares of Becton, Dickinson and Company from a "strong-buy" rating to a "hold" rating and decreased their target price for the company from $217.00 to $185.00 in a research report on Thursday, May 22nd. Eight investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $219.22.

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.