Panagora Asset Management Inc. Has $53.14 Million Position in Becton, Dickinson and Company $BDX

Key Points

• Panagora Asset Management Inc. increased its stake in Becton, Dickinson and Company by 8.2%, owning 232,007 shares valued at approximately $53.1 million by the end of the most recent quarter.
• Becton, Dickinson's stock has seen recent ratings changes from various brokerages, with Stifel Nicolaus lowering its price target from $280 to $224, while Goldman Sachs downgraded it to a "neutral" rating.
• The company recently announced a quarterly dividend of $1.04 per share, representing an annualized dividend yield of 2.2% and a payout ratio of 74.82%.

Panagora Asset Management Inc. grew its position in Becton, Dickinson and Company (NYSE:BDX - Free Report) by 8.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 232,007 shares of the medical instruments supplier's stock after acquiring an additional 17,589 shares during the quarter. Panagora Asset Management Inc. owned approximately 0.08% of Becton, Dickinson and Company worth $53,144,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. GQG Partners LLC bought a new position in shares of Becton, Dickinson and Company during the first quarter valued at approximately $689,833,000. Vanguard Group Inc. boosted its position in Becton, Dickinson and Company by 4.7% during the 1st quarter. Vanguard Group Inc. now owns 28,002,802 shares of the medical instruments supplier's stock valued at $6,414,322,000 after purchasing an additional 1,259,750 shares during the period. Nuveen LLC bought a new position in Becton, Dickinson and Company during the 1st quarter worth $211,097,000. GAMMA Investing LLC increased its position in Becton, Dickinson and Company by 29,654.0% in the first quarter. GAMMA Investing LLC now owns 744,445 shares of the medical instruments supplier's stock worth $170,523,000 after buying an additional 741,943 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its stake in Becton, Dickinson and Company by 10.8% in the first quarter. Massachusetts Financial Services Co. MA now owns 6,843,856 shares of the medical instruments supplier's stock valued at $1,567,654,000 after buying an additional 667,957 shares during the last quarter. Institutional investors and hedge funds own 86.97% of the company's stock.

Insider Activity at Becton, Dickinson and Company

In other news, EVP Michael David Garrison sold 1,185 shares of the business's stock in a transaction on Friday, July 18th. The stock was sold at an average price of $180.29, for a total transaction of $213,643.65. Following the sale, the executive vice president directly owned 4,887 shares of the company's stock, valued at $881,077.23. The trade was a 19.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Claire Fraser sold 863 shares of the stock in a transaction on Friday, August 8th. The shares were sold at an average price of $192.30, for a total value of $165,954.90. Following the completion of the transaction, the director owned 23,143 shares of the company's stock, valued at $4,450,398.90. This trade represents a 3.59% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.36% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on BDX shares. Morgan Stanley upped 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 research report on Monday, August 11th. Wells Fargo & Company upped their target price on shares of Becton, Dickinson and Company from $172.00 to $184.00 and gave the stock an "equal weight" rating in a research report on Friday, August 8th. Wall Street Zen raised Becton, Dickinson and Company from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Barclays reduced their price objective on Becton, Dickinson and Company from $261.00 to $241.00 and set an "overweight" rating for the company in a research report on Tuesday, June 3rd. Finally, Citigroup cut 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 report on Thursday, May 22nd. Four research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $211.44.

Becton, Dickinson and Company Price Performance

NYSE BDX traded down $4.88 on Tuesday, reaching $188.11. 1,630,275 shares of the stock traded hands, compared to its average volume of 2,612,290. Becton, Dickinson and Company has a 12 month low of $163.33 and a 12 month high of $251.99. The company has a market cap of $53.92 billion, a price-to-earnings ratio of 33.83, a P/E/G ratio of 1.44 and a beta of 0.27. The firm's fifty day simple moving average is $183.53 and its 200 day simple moving average is $193.61. 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 (NYSE:BDX - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The medical instruments supplier reported $3.68 EPS for the quarter, topping analysts' consensus estimates of $3.40 by $0.28. Becton, Dickinson and Company had a return on equity of 16.23% and a net margin of 7.51%.The company had revenue of $5.51 billion for the quarter, compared to the consensus estimate of $5.50 billion. During the same quarter in the previous year, the business earned $3.50 EPS. The company's quarterly revenue was up 10.4% compared to the same quarter last year. Becton, Dickinson and Company has set its FY 2025 guidance at 14.300-14.450 EPS. As a group, research analysts predict that Becton, Dickinson and Company will post 14.43 EPS 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. Investors of record on Monday, September 8th will be issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Monday, September 8th. Becton, Dickinson and Company's dividend payout ratio (DPR) is presently 74.82%.

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.