Neo Ivy Capital Management Makes New Investment in Becton, Dickinson and Company (NYSE:BDX)

Key Points

• Neo Ivy Capital Management has acquired a new position in Becton, Dickinson and Company, purchasing 2,450 shares valued at approximately $561,000.
• Several institutional investors, such as T. Rowe Price and Kovitz Investment Group Partners, have significantly increased their stakes in the company during recent quarters.
• Becton, Dickinson and Company's shares recently sold for about $185.52, with an annual dividend yield of 2.24%.

Neo Ivy Capital Management bought a new stake in Becton, Dickinson and Company (NYSE:BDX - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 2,450 shares of the medical instruments supplier's stock, valued at approximately $561,000.

Several other institutional investors have also made changes to their positions in BDX. Brighton Jones LLC raised its holdings in shares of Becton, Dickinson and Company by 98.2% during the fourth quarter. Brighton Jones LLC now owns 1,770 shares of the medical instruments supplier's stock worth $401,000 after acquiring an additional 877 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Becton, Dickinson and Company by 50.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 82,110 shares of the medical instruments supplier's stock valued at $18,808,000 after buying an additional 27,581 shares during the last quarter. Foster Victor Wealth Advisors LLC acquired a new position in Becton, Dickinson and Company in the first quarter worth approximately $6,406,000. GAMMA Investing LLC raised its position in Becton, Dickinson and Company by 29.9% during the first quarter. GAMMA Investing LLC now owns 3,250 shares of the medical instruments supplier's stock valued at $744,000 after acquiring an additional 748 shares in the last quarter. Finally, Ritholtz Wealth Management acquired a new stake in Becton, Dickinson and Company in the first quarter valued at approximately $224,000. 86.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on BDX. Citigroup lowered shares of Becton, Dickinson and Company from a "strong-buy" rating to a "hold" rating and reduced their price objective for the company from $217.00 to $185.00 in a research note on Thursday, May 22nd. Morgan Stanley decreased 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 report on Tuesday, May 6th. Barclays reduced their price objective on shares of 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. Wells Fargo & Company downgraded shares of Becton, Dickinson and Company from an "overweight" rating to an "equal weight" rating in a report on Thursday, May 1st. Finally, The Goldman Sachs Group lowered Becton, Dickinson and Company from a "buy" rating to a "neutral" rating and set a $192.00 price objective on the stock. in a research note on Friday, May 2nd. Eight investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, Becton, Dickinson and Company presently has a consensus rating of "Hold" and a consensus price target of $219.22.

Insider Transactions at Becton, Dickinson and Company

In related 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 transaction, the executive vice president owned 4,575 shares of the company's stock, valued at $783,194.25. This trade represents a 20.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Michael David Garrison sold 1,185 shares of the stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $180.29, for a total value of $213,643.65. Following the sale, the executive vice president owned 4,887 shares of the company's stock, valued at approximately $881,077.23. The trade was a 19.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.36% of the company's stock.

Becton, Dickinson and Company Price Performance

BDX stock traded down $0.68 during trading on Wednesday, hitting $181.70. The company had a trading volume of 302,845 shares, compared to its average volume of 2,612,317. The company has a current ratio of 1.13, a quick ratio of 0.64 and a debt-to-equity ratio of 0.70. The company has a fifty day moving average price of $174.54 and a two-hundred day moving average price of $201.82. Becton, Dickinson and Company has a fifty-two week low of $163.33 and a fifty-two week high of $251.99. The company has a market cap of $52.08 billion, a P/E ratio of 34.68, a P/E/G ratio of 1.38 and a beta of 0.25.

Becton, Dickinson and Company (NYSE:BDX - Get Free Report) last announced its earnings results on Thursday, May 1st. The medical instruments supplier reported $3.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.28 by $0.07. The business had revenue of $5.27 billion during the quarter, compared to analysts' expectations 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 for the quarter was up 4.5% on a year-over-year basis. During the same quarter last year, the company posted $3.17 EPS. Equities research analysts expect that Becton, Dickinson and Company will post 14.43 earnings per share for the current fiscal year.

Becton, Dickinson and Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 8th will be issued a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 2.29%. The ex-dividend date of this dividend is Monday, September 8th. Becton, Dickinson and Company's payout ratio is presently 79.39%.

Becton, Dickinson and Company 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.