Pacer Advisors Inc. Sells 2,602 Shares of Becton, Dickinson and Company (NYSE:BDX)

Key Points

• Pacer Advisors Inc. reduced its holdings in Becton, Dickinson and Company by 11.2%, bringing their total shares down to 20,542 valued at approximately $4.7 million.
• Wall Street analysts have recently downgraded the stock, with multiple firms lowering their ratings from "outperform" to "market perform" and setting a new average price target of $219.22.
• Becton, Dickinson and Company announced a quarterly dividend of $1.04 per share, with a yield of 2.28%, scheduled for payment on September 30th.

Pacer Advisors Inc. trimmed its position in Becton, Dickinson and Company (NYSE:BDX - Free Report) by 11.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,542 shares of the medical instruments supplier's stock after selling 2,602 shares during the quarter. Pacer Advisors Inc.'s holdings in Becton, Dickinson and Company were worth $4,705,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BDX. Brighton Jones LLC lifted its holdings in shares of Becton, Dickinson and Company by 98.2% during the 4th quarter. Brighton Jones LLC now owns 1,770 shares of the medical instruments supplier's stock valued at $401,000 after purchasing an additional 877 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in 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 worth $18,808,000 after buying an additional 27,581 shares during the period. Foster Victor Wealth Advisors LLC bought a new position in Becton, Dickinson and Company in the first quarter valued at approximately $6,406,000. GAMMA Investing LLC increased its position in shares of 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 worth $744,000 after acquiring an additional 748 shares in the last quarter. Finally, Ritholtz Wealth Management acquired a new stake in shares of Becton, Dickinson and Company during the first quarter worth $224,000. 86.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP David Shan sold 1,166 shares of the 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 transaction, the executive vice president directly owned 4,575 shares of the company's stock, valued at $783,194.25. This represents a 20.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Michael David Garrison sold 1,185 shares of Becton, Dickinson and Company 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 sale, the executive vice president directly 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. 0.36% of the stock is owned by insiders.

Becton, Dickinson and Company Stock Down 1.7%

Shares of NYSE BDX traded down $3.03 during trading hours on Friday, hitting $175.22. The company had a trading volume of 2,507,784 shares, compared to its average volume of 2,629,720. The stock has a market capitalization of $50.22 billion, a P/E ratio of 33.45, a price-to-earnings-growth ratio of 1.37 and a beta of 0.25. Becton, Dickinson and Company has a 1-year low of $163.33 and a 1-year high of $251.99. The firm's 50 day moving average is $174.83 and its 200-day moving average is $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 announced its quarterly earnings data on Thursday, May 1st. The medical instruments supplier reported $3.35 EPS for the quarter, beating analysts' consensus estimates of $3.28 by $0.07. The company had revenue of $5.27 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter last year, the firm posted $3.17 EPS. On average, analysts expect that Becton, Dickinson and Company will post 14.43 earnings per share for the current fiscal year.

Becton, Dickinson and Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 8th will be given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Monday, September 8th. Becton, Dickinson and Company's payout ratio is 79.39%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on BDX. Barclays reduced their target price 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. Bank of America cut Becton, Dickinson and Company from a "buy" rating to a "neutral" rating and set a $190.00 price objective for the company. in a research report on Thursday, May 1st. Morgan Stanley dropped their target price on Becton, Dickinson and Company from $280.00 to $196.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 6th. The Goldman Sachs Group cut Becton, Dickinson and Company from a "buy" rating to a "neutral" rating and set a $192.00 target price on the stock. in a research note on Friday, May 2nd. Finally, William Blair cut shares of Becton, Dickinson and Company from an "outperform" rating to a "market perform" rating in a research note on Thursday, May 1st. Eight analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Becton, Dickinson and Company currently has a consensus rating of "Hold" and an average target price of $219.22.

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.