M&T Bank Corp Reduces Position in Becton, Dickinson and Company (NYSE:BDX)

M&T Bank Corp reduced its position in Becton, Dickinson and Company (NYSE:BDX - Free Report) by 2.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 53,439 shares of the medical instruments supplier's stock after selling 1,562 shares during the quarter. M&T Bank Corp's holdings in Becton, Dickinson and Company were worth $12,241,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the company. Smallwood Wealth Investment Management LLC bought a new position in shares of Becton, Dickinson and Company in the first quarter worth $27,000. REAP Financial Group LLC boosted its holdings in shares of Becton, Dickinson and Company by 75.3% in the fourth quarter. REAP Financial Group LLC now owns 128 shares of the medical instruments supplier's stock worth $29,000 after acquiring an additional 55 shares during the period. Alpine Bank Wealth Management bought a new position in shares of Becton, Dickinson and Company in the first quarter worth $29,000. Picton Mahoney Asset Management boosted its stake in Becton, Dickinson and Company by 61.4% during the fourth quarter. Picton Mahoney Asset Management now owns 142 shares of the medical instruments supplier's stock valued at $32,000 after buying an additional 54 shares during the period. Finally, Nexus Investment Management ULC bought a new stake in Becton, Dickinson and Company during the first quarter valued at $34,000. 86.97% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on BDX shares. Piper Sandler lowered Becton, Dickinson and Company from an "overweight" rating to a "neutral" rating and dropped their price objective for the company from $260.00 to $185.00 in a research note 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 note on Tuesday, June 3rd. Stifel Nicolaus dropped their price target on Becton, Dickinson and Company from $280.00 to $224.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Bank of America lowered Becton, Dickinson and Company from a "buy" rating to a "neutral" rating and set a $190.00 price target for the company. in a research note on Thursday, May 1st. Finally, Morgan Stanley lowered their target price on Becton, Dickinson and Company from $280.00 to $196.00 and set an "overweight" rating for the company in a research note on Tuesday, May 6th. Eight analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $219.22.

Becton, Dickinson and Company Trading Up 1.1%

NYSE BDX traded up $1.86 during trading on Thursday, hitting $177.36. The stock had a trading volume of 3,014,067 shares, compared to its average volume of 2,075,925. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.64 and a current ratio of 1.13. The stock has a market capitalization of $50.83 billion, a price-to-earnings ratio of 33.85, a P/E/G ratio of 1.33 and a beta of 0.25. Becton, Dickinson and Company has a one year low of $163.33 and a one year high of $251.99. The stock has a 50 day simple moving average of $172.03 and a 200 day simple moving average of $206.75.

Becton, Dickinson and Company (NYSE:BDX - Get Free Report) last issued its earnings results on Thursday, May 1st. The medical instruments supplier reported $3.35 EPS for the quarter, topping analysts' consensus estimates of $3.28 by $0.07. The business 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 company's quarterly revenue was up 4.5% compared to the same quarter last year. During the same period last year, the company posted $3.17 earnings per share. 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 was paid on Monday, June 30th. Stockholders of record on Monday, June 9th were paid a dividend of $1.04 per share. The ex-dividend date was Monday, June 9th. This represents a $4.16 annualized dividend and a dividend yield of 2.35%. Becton, Dickinson and Company's payout ratio is currently 79.39%.

Insider Activity at Becton, Dickinson and Company

In other news, EVP David Shan sold 1,166 shares of Becton, Dickinson and Company stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $171.19, for a total transaction of $199,607.54. Following the completion of the sale, the executive vice president directly owned 4,575 shares in the company, valued at approximately $783,194.25. The trade was a 20.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 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.