Strategy Asset Managers LLC Reduces Stock Position in Becton, Dickinson and Company (NYSE:BDX)

Key Points

• Strategy Asset Managers LLC significantly reduced its stake in Becton, Dickinson and Company by 91.1%, owning only 1,432 shares after selling 14,648 shares during the first quarter.
• Several equity analysts have downgraded Becton, Dickinson’s stock ratings, with new price targets set as low as $185.00 from Citigroup and $196.00 from Morgan Stanley.
• Becton, Dickinson and Company announced a quarterly dividend of $1.04 per share, equating to an annualized yield of 2.4%.

Strategy Asset Managers LLC lessened its holdings in Becton, Dickinson and Company (NYSE:BDX - Free Report) by 91.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,432 shares of the medical instruments supplier's stock after selling 14,648 shares during the quarter. Strategy Asset Managers LLC's holdings in Becton, Dickinson and Company were worth $328,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Smallwood Wealth Investment Management LLC purchased a new position in Becton, Dickinson and Company in the first quarter valued at $27,000. Alpine Bank Wealth Management purchased a new position in Becton, Dickinson and Company in the first quarter valued at $29,000. REAP Financial Group LLC increased its holdings in Becton, Dickinson and Company by 75.3% in the fourth quarter. REAP Financial Group LLC now owns 128 shares of the medical instruments supplier's stock valued at $29,000 after buying an additional 55 shares during the last quarter. Cornerstone Planning Group LLC increased its holdings in Becton, Dickinson and Company by 341.4% in the first quarter. Cornerstone Planning Group LLC now owns 128 shares of the medical instruments supplier's stock valued at $29,000 after buying an additional 99 shares during the last quarter. Finally, Nexus Investment Management ULC acquired a new position in Becton, Dickinson and Company in the first quarter valued at $34,000. Hedge funds and other institutional investors own 86.97% of the company's stock.

Insider Buying and Selling

In related news, EVP Michael David Garrison sold 1,185 shares of the stock in a transaction dated Friday, July 18th. The shares were 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 directly owned 4,887 shares of the company's stock, valued at $881,077.23. This represents a 19.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Claire Fraser sold 863 shares of the stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $192.30, for a total transaction of $165,954.90. Following the transaction, the director directly owned 23,143 shares of the company's stock, valued at $4,450,398.90. This represents a 3.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,214 shares of company stock valued at $579,206 over the last ninety days. Corporate insiders own 0.36% of the company's stock.

Becton, Dickinson and Company Stock Performance

Shares of BDX traded up $5.97 during mid-day trading on Friday, hitting $193.65. 3,955,405 shares of the company's stock were exchanged, compared to its average volume of 3,266,347. The firm has a market capitalization of $55.50 billion, a P/E ratio of 34.83, a P/E/G ratio of 1.42 and a beta of 0.20. Becton, Dickinson and Company has a fifty-two week low of $163.33 and a fifty-two week high of $251.99. The business's 50 day moving average is $175.81 and its two-hundred day moving average is $198.98. The company has a current ratio of 1.10, a quick ratio of 0.64 and a debt-to-equity ratio of 0.69.

Becton, Dickinson and Company (NYSE:BDX - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The medical instruments supplier reported $3.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.40 by $0.28. The firm had revenue of $5.51 billion during the quarter, compared to analysts' expectations of $5.50 billion. Becton, Dickinson and Company had a net margin of 7.51% and a return on equity of 16.23%. The firm's revenue for the quarter was up 10.4% on a year-over-year basis. During the same period in the prior year, the company posted $3.50 earnings per share. On average, equities analysts expect that Becton, Dickinson and Company will post 14.43 earnings per share for the current year.

Becton, Dickinson and Company Announces Dividend

The company also recently declared 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 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Monday, September 8th. Becton, Dickinson and Company's dividend payout ratio is currently 79.39%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Citigroup downgraded shares of Becton, Dickinson and Company from a "strong-buy" rating to a "hold" rating and decreased their price objective for the company from $217.00 to $185.00 in a research note on Thursday, May 22nd. Wells Fargo & Company upped their price objective on shares of Becton, Dickinson and Company from $172.00 to $184.00 and gave the company an "equal weight" rating in a research note on Friday. Raymond James Financial downgraded shares of Becton, Dickinson and Company from an "outperform" rating to a "market perform" rating in a research note on Friday, May 2nd. Wall Street Zen upgraded shares of Becton, Dickinson and Company from a "hold" rating to a "buy" rating in a research note on Saturday. Finally, Barclays decreased 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. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Becton, Dickinson and Company currently has a consensus rating of "Hold" and an average price target of $211.33.

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.