Resona Asset Management Co. Ltd. Buys 8,389 Shares of Becton, Dickinson and Company (NYSE:BDX)

Key Points

• Resona Asset Management Co. Ltd. increased its position in Becton, Dickinson and Company by 9.1%, owning 100,511 shares valued at approximately $22.99 million.
• The company announced a quarterly dividend of $1.04, reflecting an annualized yield of 2.1%, with an ex-dividend date of September 8th.
• Shares in Becton, Dickinson and Company traded at $194.86, with a market cap of $55.85 billion, following a 1.2% increase in stock price.

Resona Asset Management Co. Ltd. increased its stake in shares of Becton, Dickinson and Company (NYSE:BDX - Free Report) by 9.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 100,511 shares of the medical instruments supplier's stock after acquiring an additional 8,389 shares during the period. Resona Asset Management Co. Ltd.'s holdings in Becton, Dickinson and Company were worth $22,990,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BDX. Brighton Jones LLC increased its stake in Becton, Dickinson and Company by 98.2% in the 4th quarter. Brighton Jones LLC now owns 1,770 shares of the medical instruments supplier's stock valued at $401,000 after buying an additional 877 shares during the last quarter. Hara Capital LLC grew its position in shares of Becton, Dickinson and Company by 26.4% in the 4th quarter. Hara Capital LLC now owns 335 shares of the medical instruments supplier's stock valued at $76,000 after acquiring an additional 70 shares during the period. Sagespring Wealth Partners LLC bought a new position in shares of Becton, Dickinson and Company in the 4th quarter valued at about $784,000. Synovus Financial Corp grew its position in shares of Becton, Dickinson and Company by 8.4% in the 4th quarter. Synovus Financial Corp now owns 9,778 shares of the medical instruments supplier's stock valued at $2,219,000 after acquiring an additional 761 shares during the period. Finally, Savvy Advisors Inc. bought a new position in shares of Becton, Dickinson and Company in the 4th quarter valued at about $252,000. 86.97% of the stock is currently owned by institutional investors and hedge funds.

Becton, Dickinson and Company Stock Performance

Shares of BDX traded up $0.88 during trading hours on Friday, hitting $195.88. The company's stock had a trading volume of 2,616,848 shares, compared to its average volume of 2,677,256. The business has a 50 day simple moving average of $177.75 and a two-hundred day simple moving average of $197.66. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.10 and a quick ratio of 0.62. Becton, Dickinson and Company has a 52-week low of $163.33 and a 52-week high of $251.99. The company has a market cap of $56.15 billion, a price-to-earnings ratio of 35.23, a PEG ratio of 1.47 and a beta of 0.20.

Becton, Dickinson and Company (NYSE:BDX - Get Free Report) last issued its earnings results 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 net margin of 7.51% and a return on equity of 16.23%. The company had revenue of $5.51 billion for the quarter, compared to analysts' expectations of $5.50 billion. During the same quarter last year, the company earned $3.50 EPS. The firm's revenue was up 10.4% compared to the same quarter last year. On average, equities 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 business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 8th will be issued a $1.04 dividend. The ex-dividend date is Monday, September 8th. This represents a $4.16 annualized dividend and a yield of 2.1%. Becton, Dickinson and Company's dividend payout ratio is 74.82%.

Analysts Set New Price Targets

Several brokerages recently commented 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 report on Tuesday, June 3rd. William Blair downgraded shares of Becton, Dickinson and Company from an "outperform" rating to a "market perform" rating in a report on Thursday, May 1st. Piper Sandler reaffirmed a "neutral" rating and set a $200.00 target price (up previously from $185.00) on shares of Becton, Dickinson and Company in a report on Friday, August 8th. Wall Street Zen raised shares of Becton, Dickinson and Company from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Finally, Raymond James Financial downgraded shares of Becton, Dickinson and Company from an "outperform" rating to a "market perform" rating in a report on Friday, May 2nd. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $211.44.

Insiders Place Their Bets

In related 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 completion of the transaction, the executive vice president directly owned 4,575 shares in the company, valued at $783,194.25. This trade represents a 20.31% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 transaction of $213,643.65. Following the completion of the transaction, 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. In the last ninety days, insiders sold 3,214 shares of company stock worth $579,206. 0.36% of the stock is currently owned by corporate insiders.

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.