Summit Global Investments Makes New $790,000 Investment in Becton, Dickinson and Company (NYSE:BDX)

Summit Global Investments acquired a new stake in Becton, Dickinson and Company (NYSE:BDX - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 3,451 shares of the medical instruments supplier's stock, valued at approximately $790,000.

Several other hedge funds also recently modified their holdings of BDX. GAMMA Investing LLC lifted 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 purchasing an additional 741,943 shares during the period. Nexus Investment Management ULC bought a new position in Becton, Dickinson and Company in the first quarter worth $34,000. Webster Bank N. A. lifted its position in Becton, Dickinson and Company by 1.3% in the first quarter. Webster Bank N. A. now owns 7,163 shares of the medical instruments supplier's stock worth $1,641,000 after purchasing an additional 92 shares during the period. Versant Capital Management Inc lifted its position in Becton, Dickinson and Company by 27.4% in the first quarter. Versant Capital Management Inc now owns 265 shares of the medical instruments supplier's stock worth $61,000 after purchasing an additional 57 shares during the period. Finally, First Hawaiian Bank lifted its position in Becton, Dickinson and Company by 27.0% in the first quarter. First Hawaiian Bank now owns 4,298 shares of the medical instruments supplier's stock worth $984,000 after purchasing an additional 913 shares during the period. 86.97% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

BDX has been the subject of several research reports. Citigroup cut Becton, Dickinson and Company from a "strong-buy" rating to a "hold" rating and reduced their target price for the stock from $217.00 to $185.00 in a research report on Thursday, May 22nd. Wells Fargo & Company cut Becton, Dickinson and Company from an "overweight" rating to an "equal weight" rating in a research report on Thursday, May 1st. Bank of America lowered 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 note on Thursday, May 1st. Morgan Stanley dropped their price objective on Becton, Dickinson and Company from $280.00 to $196.00 and set an "overweight" rating for the company in a research note on Tuesday, May 6th. Finally, Piper Sandler lowered Becton, Dickinson and Company from an "overweight" rating to a "neutral" rating and dropped their price objective for the stock from $260.00 to $185.00 in a research note on Friday, May 2nd. Eight research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $221.44.

Becton, Dickinson and Company Price Performance

Shares of NYSE:BDX traded down $3.33 during midday trading on Monday, reaching $169.26. The company's stock had a trading volume of 3,262,703 shares, compared to its average volume of 1,933,955. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.13 and a quick ratio of 0.63. Becton, Dickinson and Company has a fifty-two week low of $163.33 and a fifty-two week high of $251.99. The company has a market capitalization of $48.51 billion, a P/E ratio of 28.12, a P/E/G ratio of 1.63 and a beta of 0.31. The business's fifty day simple moving average is $192.64 and its 200-day simple moving average is $216.56.

Becton, Dickinson and Company (NYSE:BDX - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The medical instruments supplier reported $3.35 earnings per share for the quarter, topping analysts' consensus estimates of $3.28 by $0.07. Becton, Dickinson and Company had a net margin of 8.47% and a return on equity of 15.74%. The business had revenue of $5.27 billion during the quarter, compared to the consensus estimate of $5.35 billion. During the same period in the previous year, the firm posted $3.17 earnings per share. Becton, Dickinson and Company's revenue for the quarter was up 4.5% compared to the same quarter last year. As a group, equities research analysts expect that Becton, Dickinson and Company will post 14.43 EPS for the current fiscal year.

Becton, Dickinson and Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 9th will be issued a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 2.46%. The ex-dividend date is Monday, June 9th. Becton, Dickinson and Company's dividend payout ratio (DPR) is presently 79.39%.

Insider Activity

In other news, EVP Richard Byrd sold 459 shares of Becton, Dickinson and Company stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $230.00, for a total transaction of $105,570.00. Following the transaction, the executive vice president now owns 6,952 shares in the company, valued at $1,598,960. The trade was a 6.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Michael David Garrison sold 479 shares of Becton, Dickinson and Company stock in a transaction that occurred on Wednesday, April 9th. The shares were sold at an average price of $197.28, for a total value of $94,497.12. Following the completion of the sale, the executive vice president now directly owns 4,887 shares in the company, valued at approximately $964,107.36. This represents a 8.93% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,878 shares of company stock worth $636,393 in the last 90 days. Corporate insiders own 0.36% of the company's stock.

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.