Waycross Partners LLC Trims Stake in Becton, Dickinson and Company $BDX

Key Points

• Waycross Partners LLC reduced its stake in Becton, Dickinson and Company by 2.8% in Q2, holding a total of 106,931 shares valued at approximately $18.4 million.
• Despite Waycross trimming its holdings, institutional investors like GQG Partners and Vanguard Group are increasing their positions in Becton, Dickinson, indicating continued interest in the stock.
• Becton, Dickinson recently reported strong earnings with a 10.4% increase in revenue year-over-year and announced a quarterly dividend of $1.04, resulting in a yield of 2.2%.

Waycross Partners LLC trimmed its holdings in shares of Becton, Dickinson and Company (NYSE:BDX - Free Report) by 2.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 106,931 shares of the medical instruments supplier's stock after selling 3,082 shares during the quarter. Becton, Dickinson and Company comprises about 1.7% of Waycross Partners LLC's holdings, making the stock its 25th largest position. Waycross Partners LLC's holdings in Becton, Dickinson and Company were worth $18,419,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. GQG Partners LLC bought a new position in shares of Becton, Dickinson and Company during the 1st quarter valued at about $689,833,000. Vanguard Group Inc. increased its position in shares of Becton, Dickinson and Company by 4.7% during the 1st quarter. Vanguard Group Inc. now owns 28,002,802 shares of the medical instruments supplier's stock valued at $6,414,322,000 after purchasing an additional 1,259,750 shares during the last quarter. Nuveen LLC bought a new position in shares of Becton, Dickinson and Company during the 1st quarter valued at about $211,097,000. Kingstone Capital Partners Texas LLC bought a new position in shares of Becton, Dickinson and Company during the 2nd quarter valued at about $155,080,000. Finally, GAMMA Investing LLC increased its position in shares of Becton, Dickinson and Company by 29,654.0% during the 1st quarter. GAMMA Investing LLC now owns 744,445 shares of the medical instruments supplier's stock valued at $170,523,000 after purchasing an additional 741,943 shares during the last quarter. 86.97% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Becton, Dickinson and Company news, Director Claire Fraser sold 917 shares of the firm's stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $187.50, for a total transaction of $171,937.50. Following the sale, the director directly owned 22,226 shares of the company's stock, valued at $4,167,375. This trade represents a 3.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michael David Garrison sold 1,185 shares of Becton, Dickinson and Company stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $180.29, for a total value of $213,643.65. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,965 shares of company stock worth $551,536. 0.36% of the stock is owned by insiders.

Becton, Dickinson and Company Stock Performance

Shares of BDX opened at $186.44 on Wednesday. The business's fifty day simple moving average is $188.00 and its two-hundred day simple moving average is $189.59. 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 company has a market cap of $53.44 billion, a price-to-earnings ratio of 33.53, a P/E/G ratio of 1.50 and a beta of 0.27.

Becton, Dickinson and Company (NYSE:BDX - Get Free Report) last issued its 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 for the quarter, compared to the consensus estimate of $5.50 billion. Becton, Dickinson and Company had a return on equity of 16.23% and a net margin of 7.51%.The company's revenue was up 10.4% compared to the same quarter last year. During the same period last year, the business posted $3.50 EPS. Becton, Dickinson and Company has set its FY 2025 guidance at 14.300-14.450 EPS. Research analysts anticipate that Becton, Dickinson and Company will post 14.43 earnings per share for the current fiscal year.

Becton, Dickinson and Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 8th will be issued a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Monday, September 8th. Becton, Dickinson and Company's dividend payout ratio (DPR) is currently 74.82%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on BDX. Morgan Stanley increased their price objective on 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. Argus increased their target price on Becton, Dickinson and Company from $220.00 to $230.00 in a report on Monday, September 15th. Piper Sandler restated a "neutral" rating and set a $200.00 target price (up from $185.00) on shares of Becton, Dickinson and Company in a report on Friday, August 8th. Barclays dropped their target price on Becton, Dickinson and Company from $261.00 to $241.00 and set an "overweight" rating for the company in a report on Tuesday, June 3rd. Finally, Wells Fargo & Company increased their target price on Becton, Dickinson and Company from $172.00 to $184.00 and gave the company an "equal weight" rating in a report on Friday, August 8th. Four analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $213.30.

About Becton, Dickinson and Company

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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