Tidal Investments LLC raised its stake in Becton, Dickinson and Company (NYSE:BDX - Free Report) by 24.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 59,010 shares of the medical instruments supplier's stock after acquiring an additional 11,549 shares during the period. Tidal Investments LLC's holdings in Becton, Dickinson and Company were worth $13,388,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of BDX. Norges Bank bought a new stake in Becton, Dickinson and Company in the fourth quarter valued at $735,523,000. T. Rowe Price Investment Management Inc. grew its position in Becton, Dickinson and Company by 36.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 12,126,707 shares of the medical instruments supplier's stock valued at $2,751,187,000 after acquiring an additional 3,219,317 shares during the period. Kovitz Investment Group Partners LLC grew its position in Becton, Dickinson and Company by 392.4% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 3,416,665 shares of the medical instruments supplier's stock valued at $775,139,000 after acquiring an additional 2,722,829 shares during the period. First Eagle Investment Management LLC boosted its stake in Becton, Dickinson and Company by 31.4% in the fourth quarter. First Eagle Investment Management LLC now owns 4,426,022 shares of the medical instruments supplier's stock worth $1,004,132,000 after purchasing an additional 1,057,879 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in Becton, Dickinson and Company by 15.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 6,175,899 shares of the medical instruments supplier's stock worth $1,401,126,000 after purchasing an additional 810,345 shares in the last quarter. 86.97% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of research firms have commented on BDX. Wall Street Zen lowered Becton, Dickinson and Company from a "buy" rating to a "hold" rating in a research note on Friday, May 2nd. Wells Fargo & Company lowered Becton, Dickinson and Company from an "overweight" rating to an "equal weight" rating in a research note on Thursday, May 1st. The Goldman Sachs Group lowered Becton, Dickinson and Company from a "buy" rating to a "neutral" rating and set a $192.00 price objective on the stock. in a research note on Friday, May 2nd. Citigroup lowered Becton, Dickinson and Company from a "strong-buy" rating to a "hold" rating and reduced their price objective for the stock from $217.00 to $185.00 in a research note on Thursday. Finally, Bank of America lowered Becton, Dickinson and Company from a "buy" rating to a "neutral" rating and set a $190.00 price objective on the stock. in a research note on Thursday, May 1st. Eight equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $221.44.
Check Out Our Latest Stock Analysis on Becton, Dickinson and Company
Becton, Dickinson and Company Trading Down 0.5%
Becton, Dickinson and Company stock traded down $0.82 during mid-day trading on Friday, hitting $171.49. The stock had a trading volume of 1,950,782 shares, compared to its average volume of 1,932,008. The stock has a 50-day simple moving average of $198.36 and a two-hundred day simple moving average of $218.65. The stock has a market capitalization of $49.15 billion, a PE ratio of 28.49, a P/E/G ratio of 1.63 and a beta of 0.31. Becton, Dickinson and Company has a 12 month low of $163.33 and a 12 month high of $251.99. The company has a current ratio of 1.13, a quick ratio of 0.63 and a debt-to-equity ratio of 0.69.
Becton, Dickinson and Company (NYSE:BDX - Get Free Report) last issued its earnings results on Thursday, May 1st. The medical instruments supplier reported $3.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.28 by $0.07. Becton, Dickinson and Company had a return on equity of 15.74% and a net margin of 8.47%. The firm had revenue of $5.27 billion for the quarter, compared to analysts' expectations of $5.35 billion. During the same quarter last year, the business earned $3.17 earnings per share. The company's revenue was up 4.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Becton, Dickinson and Company will post 14.43 EPS for the current year.
Becton, Dickinson and Company Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 9th will be issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date is Monday, June 9th. Becton, Dickinson and Company's dividend payout ratio (DPR) is currently 79.39%.
Becton, Dickinson and Company announced that its board has approved a share buyback program on Tuesday, January 28th that allows the company to buyback 10,000,000 outstanding shares. This buyback authorization allows the medical instruments supplier to reacquire shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company's board of directors believes its stock is undervalued.
Insiders Place Their Bets
In other news, EVP Richard Byrd sold 459 shares of the firm's 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 sale, the executive vice president now owns 6,952 shares of the company's stock, valued at $1,598,960. This trade represents a 6.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Michael David Garrison sold 479 shares of the firm's stock in a transaction dated Wednesday, April 9th. The stock was sold at an average price of $197.28, for a total value of $94,497.12. Following 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. Over the last quarter, insiders have sold 2,878 shares of company stock worth $636,393. Insiders own 0.36% of the company's stock.
About Becton, Dickinson and Company
(
Free Report)
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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