Mitsubishi UFJ Asset Management Co. Ltd. Lowers Stake in Becton, Dickinson and Company (NYSE:BDX)

Key Points

• Mitsubishi UFJ Asset Management has reduced its holdings in Becton, Dickinson and Company by 7.5%, now owning 2,607,353 shares valued at approximately $597.24 million.
• Insider executives, including EVP Michael David Garrison, sold significant shares recently, decreasing their positions by approximately 19.52% and 20.31% respectively.
• Becton, Dickinson and Company declared a quarterly dividend of $1.04 per share, indicating a dividend yield of 2.4% and a payout ratio of 79.39%.

Mitsubishi UFJ Asset Management Co. Ltd. lessened its holdings in Becton, Dickinson and Company (NYSE:BDX - Free Report) by 7.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,607,353 shares of the medical instruments supplier's stock after selling 211,242 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.91% of Becton, Dickinson and Company worth $597,240,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of BDX. Northcape Wealth Management LLC boosted its position in shares of Becton, Dickinson and Company by 0.5% in the 1st quarter. Northcape Wealth Management LLC now owns 9,814 shares of the medical instruments supplier's stock worth $2,248,000 after buying an additional 51 shares in the last quarter. Alpha Omega Wealth Management LLC boosted its holdings in shares of Becton, Dickinson and Company by 5.7% in the 1st quarter. Alpha Omega Wealth Management LLC now owns 984 shares of the medical instruments supplier's stock worth $225,000 after buying an additional 53 shares during the last quarter. Brady Family Wealth LLC grew its position in shares of Becton, Dickinson and Company by 1.2% in the 1st quarter. Brady Family Wealth LLC now owns 4,317 shares of the medical instruments supplier's stock worth $989,000 after buying an additional 53 shares during the last quarter. Diversified Trust Co lifted its holdings in Becton, Dickinson and Company by 4.7% in the 1st quarter. Diversified Trust Co now owns 1,188 shares of the medical instruments supplier's stock worth $272,000 after purchasing an additional 53 shares in the last quarter. Finally, REAP Financial Group LLC grew its position 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 worth $29,000 after purchasing an additional 55 shares during the last quarter. Institutional investors own 86.97% of the company's stock.

Analyst Upgrades and Downgrades

BDX has been the subject of several research analyst reports. Raymond James Financial cut Becton, Dickinson and Company from an "outperform" rating to a "market perform" rating in a research report on Friday, May 2nd. Piper Sandler reissued a "neutral" rating and set a $200.00 target price (up from $185.00) on shares of Becton, Dickinson and Company in a research report on Friday. Citigroup cut shares of Becton, Dickinson and Company from a "strong-buy" rating to a "hold" rating and lowered their target price for the company from $217.00 to $185.00 in a research note on Thursday, May 22nd. Barclays lowered their target price on Becton, Dickinson and Company from $261.00 to $241.00 and set an "overweight" rating on the stock in a research note on Tuesday, June 3rd. Finally, Morgan Stanley increased their price target on shares of Becton, Dickinson and Company from $196.00 to $197.00 and gave the stock an "overweight" rating in a report on Monday. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $211.44.

Becton, Dickinson and Company Stock Down 1.1%

BDX stock traded down $2.03 during trading on Monday, hitting $191.47. 937,739 shares of the company's stock traded hands, compared to its average volume of 2,664,694. The firm has a market capitalization of $54.88 billion, a P/E ratio of 34.44, a PEG ratio of 1.46 and a beta of 0.20. The business has a fifty day simple moving average of $175.81 and a two-hundred day simple moving average of $198.42. The company has a quick ratio of 0.62, a current ratio of 1.10 and a debt-to-equity ratio of 0.69. Becton, Dickinson and Company has a 1 year low of $163.33 and a 1 year high of $251.99.

Becton, Dickinson and Company (NYSE:BDX - Get Free Report) last released its earnings results on Thursday, August 7th. The medical instruments supplier reported $3.68 earnings per share for the quarter, beating the consensus estimate of $3.40 by $0.28. The firm had revenue of $5.51 billion during 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 firm's revenue for the quarter was up 10.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.50 earnings per share. Sell-side analysts anticipate that Becton, Dickinson and Company will post 14.43 EPS for the current year.

Becton, Dickinson and Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 8th will be paid a $1.04 dividend. The ex-dividend date 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 Activity

In related news, Director Claire Fraser sold 863 shares of the business's stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $192.30, for a total value of $165,954.90. Following the completion of the sale, the director owned 23,143 shares of the company's stock, valued at approximately $4,450,398.90. The trade was a 3.59% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP David Shan sold 1,166 shares of the company's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $171.19, for a total value of $199,607.54. Following the completion of the sale, the executive vice president directly owned 4,575 shares of the company's stock, valued at approximately $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. Insiders sold 3,214 shares of company stock valued at $579,206 over the last three months. Insiders own 0.36% of the company's stock.

Becton, Dickinson and Company Profile

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.