Southpoint Capital Advisors LP Purchases New Stake in Becton, Dickinson and Company $BDX

Key Points

• Southpoint Capital Advisors LP acquired 600,000 shares of Becton, Dickinson and Company, valued at approximately $137 million, making it the 13th largest position in their portfolio.
• Institutional investors own about 86.97% of Becton, Dickinson's stock, with several firms like Brighton Jones LLC significantly increasing their positions recently.
• Becton, Dickinson and Company has announced a $1.04 quarterly dividend, offering a 2.2% yield, with an ex-dividend date set for September 8th.

Southpoint Capital Advisors LP acquired a new position in shares of Becton, Dickinson and Company (NYSE:BDX - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 600,000 shares of the medical instruments supplier's stock, valued at approximately $137,436,000. Becton, Dickinson and Company accounts for approximately 3.2% of Southpoint Capital Advisors LP's portfolio, making the stock its 13th largest position. Southpoint Capital Advisors LP owned approximately 0.21% of Becton, Dickinson and Company as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Brighton Jones LLC grew its position in 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 buying an additional 877 shares during the period. Wealth Enhancement Advisory Services LLC grew 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 valued at $18,808,000 after buying an additional 27,581 shares during the last quarter. FORA Capital LLC acquired a new stake in shares of Becton, Dickinson and Company during the 1st quarter worth about $3,458,000. Foster Victor Wealth Advisors LLC purchased a new stake in shares of Becton, Dickinson and Company in the first quarter valued at $6,406,000. Finally, GAMMA Investing LLC raised its position in shares of Becton, Dickinson and Company by 29.9% in the 1st quarter. GAMMA Investing LLC now owns 3,250 shares of the medical instruments supplier's stock worth $744,000 after buying an additional 748 shares during the period. Institutional investors and hedge funds own 86.97% of the company's stock.

Insiders Place Their Bets

In other news, 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 transaction, the executive vice president owned 4,887 shares of the company's stock, valued at approximately $881,077.23. This represents a 19.52% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Claire Fraser sold 863 shares of the business's stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $192.30, for a total value of $165,954.90. Following the completion of the sale, the director owned 23,143 shares of the company's stock, valued at approximately $4,450,398.90. This trade represents a 3.59% 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.

Analysts Set New Price Targets

A number of brokerages recently weighed in on BDX. Wall Street Zen raised shares of Becton, Dickinson and Company from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Citigroup downgraded Becton, Dickinson and Company from a "strong-buy" rating to a "hold" rating and cut their price target for the stock from $217.00 to $185.00 in a report on Thursday, May 22nd. Morgan Stanley raised their price target on shares of Becton, Dickinson and Company from $196.00 to $197.00 and gave the company an "overweight" rating in a research note on Monday, August 11th. Piper Sandler restated a "neutral" rating and set a $200.00 price objective (up from $185.00) on shares of Becton, Dickinson and Company in a research note on Friday, August 8th. Finally, Wells Fargo & Company lifted their price target on Becton, Dickinson and Company from $172.00 to $184.00 and gave the company an "equal weight" rating in a research report on Friday, August 8th. Four analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $211.44.

Becton, Dickinson and Company Stock Performance

Shares of BDX stock opened at $192.84 on Tuesday. The firm has a market cap of $55.27 billion, a P/E ratio of 34.68, a PEG ratio of 1.44 and a beta of 0.27. 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 fifty-two week low of $163.33 and a fifty-two week high of $251.99. The stock's 50-day moving average is $183.53 and its two-hundred day moving average is $193.61.

Becton, Dickinson and Company (NYSE:BDX - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The medical instruments supplier reported $3.68 EPS for the quarter, beating the consensus estimate of $3.40 by $0.28. The business had revenue of $5.51 billion during the quarter, compared to analysts' expectations of $5.50 billion. Becton, Dickinson and Company had a return on equity of 16.23% and a net margin of 7.51%.The firm's quarterly revenue was up 10.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.50 EPS. Becton, Dickinson and Company has set its FY 2025 guidance at 14.300-14.450 EPS. Analysts predict 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 disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 8th will be paid a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Monday, September 8th. Becton, Dickinson and Company's payout ratio is presently 74.82%.

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.

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