USS Investment Management Ltd Cuts Stake in Becton, Dickinson and Company $BDX

Key Points

• USS Investment Management Ltd has reduced its stake in Becton, Dickinson and Company by 12.8%, now holding 53,284 shares valued at approximately $12.2 million.
• Becton, Dickinson and Company's latest earnings report showed a 10.4% year-over-year revenue growth with earnings per share of $3.68, exceeding analyst expectations.
• The company recently announced a quarterly dividend of $1.04 per share, which reflects an annual yield of 2.2% and a payout ratio of 74.82%.

USS Investment Management Ltd decreased its holdings in Becton, Dickinson and Company (NYSE:BDX - Free Report) by 12.8% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 53,284 shares of the medical instruments supplier's stock after selling 7,817 shares during the period. USS Investment Management Ltd's holdings in Becton, Dickinson and Company were worth $12,203,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. UniSuper Management Pty Ltd boosted its stake in shares of Becton, Dickinson and Company by 1.6% in the 1st quarter. UniSuper Management Pty Ltd now owns 21,557 shares of the medical instruments supplier's stock valued at $4,938,000 after purchasing an additional 346 shares in the last quarter. Parkman Healthcare Partners LLC boosted its stake in shares of Becton, Dickinson and Company by 70.8% in the 1st quarter. Parkman Healthcare Partners LLC now owns 120,283 shares of the medical instruments supplier's stock valued at $27,552,000 after purchasing an additional 49,879 shares in the last quarter. Plancorp LLC boosted its position in Becton, Dickinson and Company by 4.1% during the 1st quarter. Plancorp LLC now owns 1,499 shares of the medical instruments supplier's stock valued at $343,000 after buying an additional 59 shares during the period. New England Asset Management Inc. boosted its position in Becton, Dickinson and Company by 20.3% during the 1st quarter. New England Asset Management Inc. now owns 27,920 shares of the medical instruments supplier's stock valued at $6,395,000 after buying an additional 4,705 shares during the period. Finally, Nissay Asset Management Corp Japan ADV boosted its position in Becton, Dickinson and Company by 1.5% during the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 36,643 shares of the medical instruments supplier's stock valued at $8,393,000 after buying an additional 529 shares during the period. Hedge funds and other institutional investors own 86.97% of the company's stock.

Becton, Dickinson and Company Stock Up 0.5%

Shares of NYSE BDX opened at $192.18 on Monday. The company has a current ratio of 1.10, a quick ratio of 0.62 and a debt-to-equity ratio of 0.69. Becton, Dickinson and Company has a 12 month low of $163.33 and a 12 month high of $251.99. The firm has a market capitalization of $55.08 billion, a PE ratio of 34.56, a price-to-earnings-growth ratio of 1.44 and a beta of 0.27. The firm has a fifty day simple moving average of $185.08 and a two-hundred day simple moving average of $192.60.

Becton, Dickinson and Company (NYSE:BDX - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The medical instruments supplier reported $3.68 EPS for the quarter, topping the consensus estimate 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 business had revenue of $5.51 billion during the quarter, compared to analyst estimates of $5.50 billion. During the same period in the prior year, the business earned $3.50 EPS. The company's revenue for the quarter was up 10.4% on a year-over-year basis. Becton, Dickinson and Company has set its FY 2025 guidance at 14.300-14.450 EPS. 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 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 2.2%. Becton, Dickinson and Company's dividend payout ratio is 74.82%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on BDX. Barclays dropped their price target on shares of Becton, Dickinson and Company from $261.00 to $241.00 and set an "overweight" rating for the company in a research report on Tuesday, June 3rd. Wells Fargo & Company increased their price target on shares of 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. 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 cut shares of Becton, Dickinson and Company from a "strong-buy" rating to a "hold" rating and dropped their price target for the company from $217.00 to $185.00 in a research report on Thursday, May 22nd. Finally, Morgan Stanley increased 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 report on Monday, August 11th. Four research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, Becton, Dickinson and Company presently has an average rating of "Hold" and a consensus price target of $211.44.

Insider Activity

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 value of $213,643.65. Following the completion of the transaction, the executive vice president directly owned 4,887 shares in the company, valued at $881,077.23. This trade represents a 19.52% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 completion of the transaction, the director owned 23,143 shares of the company's stock, valued at approximately $4,450,398.90. The trade was a 3.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.36% of the stock is owned by company 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.

Want to see what other hedge funds are holding BDX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Becton, Dickinson and Company (NYSE:BDX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.