State Treasurer State of Michigan reduced its stake in Becton Dickinson and Co (NYSE:BDX) by 16.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 64,553 shares of the medical instruments supplier’s stock after selling 13,000 shares during the period. State Treasurer State of Michigan’s holdings in Becton Dickinson and were worth $16,268,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC boosted its position in shares of Becton Dickinson and by 5.0% during the first quarter. FMR LLC now owns 17,835,000 shares of the medical instruments supplier’s stock valued at $4,453,934,000 after buying an additional 842,590 shares during the last quarter. Ronna Sue Cohen boosted its position in Becton Dickinson and by 24,129.0% in the first quarter. Ronna Sue Cohen now owns 5,734,031 shares of the medical instruments supplier’s stock worth $5,734,000 after purchasing an additional 5,710,365 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Becton Dickinson and by 10.4% in the first quarter. JPMorgan Chase & Co. now owns 4,418,870 shares of the medical instruments supplier’s stock worth $1,103,526,000 after purchasing an additional 416,459 shares during the last quarter. Fundsmith LLP boosted its position in Becton Dickinson and by 0.9% in the first quarter. Fundsmith LLP now owns 3,771,159 shares of the medical instruments supplier’s stock worth $941,772,000 after purchasing an additional 35,453 shares during the last quarter. Finally, Northern Trust Corp boosted its position in Becton Dickinson and by 0.7% in the first quarter. Northern Trust Corp now owns 3,223,811 shares of the medical instruments supplier’s stock worth $805,082,000 after purchasing an additional 23,645 shares during the last quarter. 84.85% of the stock is currently owned by hedge funds and other institutional investors.
BDX traded up $0.09 on Wednesday, hitting $242.23. 38,198 shares of the company’s stock traded hands, compared to its average volume of 845,774. The firm has a 50 day simple moving average of $250.87. The company has a market capitalization of $65.23 billion, a price-to-earnings ratio of 22.02, a price-to-earnings-growth ratio of 1.84 and a beta of 1.11. Becton Dickinson and Co has a one year low of $208.62 and a one year high of $265.87. The company has a current ratio of 0.96, a quick ratio of 0.59 and a debt-to-equity ratio of 0.82.
Becton Dickinson and (NYSE:BDX) last issued its earnings results on Tuesday, August 6th. The medical instruments supplier reported $3.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.05 by $0.03. The company had revenue of $4.35 billion for the quarter, compared to the consensus estimate of $4.37 billion. Becton Dickinson and had a return on equity of 14.58% and a net margin of 5.88%. The firm’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter last year, the company earned $2.91 EPS. Equities analysts predict that Becton Dickinson and Co will post 11.68 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 9th will be paid a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 1.27%. The ex-dividend date is Friday, September 6th. Becton Dickinson and’s dividend payout ratio (DPR) is presently 27.97%.
In related news, EVP Betty D. Larson sold 1,700 shares of Becton Dickinson and stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $224.97, for a total transaction of $382,449.00. Following the sale, the executive vice president now owns 11,493 shares of the company’s stock, valued at approximately $2,585,580.21. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Samrat S. Khichi sold 16,085 shares of Becton Dickinson and stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $234.68, for a total value of $3,774,827.80. Following the sale, the executive vice president now directly owns 12,608 shares in the company, valued at approximately $2,958,845.44. The disclosure for this sale can be found here. Insiders have sold a total of 21,154 shares of company stock worth $4,955,775 in the last three months. 0.12% of the stock is owned by corporate insiders.
BDX has been the topic of several research reports. Barclays raised Becton Dickinson and from an “equal weight” rating to an “overweight” rating and set a $266.00 target price on the stock in a research report on Monday, May 13th. BMO Capital Markets dropped their target price on Becton Dickinson and from $272.00 to $270.00 and set a “market perform” rating on the stock in a research report on Friday, May 10th. UBS Group dropped their target price on Becton Dickinson and from $265.00 to $250.00 and set a “neutral” rating on the stock in a research report on Friday, May 10th. Piper Jaffray Companies decreased their price objective on Becton Dickinson and from $267.00 to $266.00 and set an “overweight” rating on the stock in a research note on Tuesday. Finally, KeyCorp reaffirmed an “overweight” rating and issued a $262.00 price objective (down previously from $273.00) on shares of Becton Dickinson and in a research note on Friday, May 10th. Five investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Becton Dickinson and has an average rating of “Buy” and an average price target of $264.27.
Becton Dickinson and Company Profile
Becton, Dickinson and Company develops, manufactures, and sells medical supplies, devices, laboratory equipment, and diagnostic products worldwide. The company's BD Medical segment offers peripheral IV and advanced peripheral catheters, central lines, acute dialysis catheters, vascular care and preparation products, needle-free IV connectors and extensions sets, IV fluids, closed-system drug transfer devices, hazardous drug detection, hypodermic syringes and needles, anesthesia needles and trays, enteral syringes, sharps disposal systems; infusion pumps and dedicated disposables, medication compounding workflow systems, automated medication dispensing, automated supply management systems, medication inventory optimization and tracking systems; syringes, pen needles, and other products for diabetes care; and prefillable drug delivery systems.
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