Penobscot Investment Management Company Inc. Lowers Stock Position in Becton, Dickinson and Company (NYSE:BDX)

Penobscot Investment Management Company Inc. trimmed its position in Becton, Dickinson and Company (NYSE:BDX) by 1.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,817 shares of the medical instruments supplier’s stock after selling 50 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in Becton, Dickinson and Company were worth $1,093,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BDX. Vanguard Group Inc. increased its stake in shares of Becton, Dickinson and Company by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 26,743,052 shares of the medical instruments supplier’s stock worth $6,067,196,000 after purchasing an additional 184,288 shares in the last quarter. State Street Corp increased its stake in Becton, Dickinson and Company by 0.8% in the 3rd quarter. State Street Corp now owns 13,953,116 shares of the medical instruments supplier’s stock worth $3,364,096,000 after buying an additional 106,616 shares in the last quarter. Geode Capital Management LLC raised its holdings in Becton, Dickinson and Company by 1.8% during the third quarter. Geode Capital Management LLC now owns 6,285,513 shares of the medical instruments supplier’s stock valued at $1,510,050,000 after acquiring an additional 111,101 shares during the period. First Eagle Investment Management LLC lifted its position in shares of 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 valued at $1,004,132,000 after acquiring an additional 1,057,879 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Becton, Dickinson and Company by 2.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,053,416 shares of the medical instruments supplier’s stock worth $692,729,000 after acquiring an additional 66,873 shares during the period. Institutional investors own 86.97% of the company’s stock.

Becton, Dickinson and Company Price Performance

Becton, Dickinson and Company stock opened at $227.95 on Thursday. Becton, Dickinson and Company has a 52-week low of $218.75 and a 52-week high of $251.99. The company has a market cap of $65.45 billion, a price-to-earnings ratio of 37.87, a PEG ratio of 1.63 and a beta of 0.35. The firm’s fifty day moving average is $232.18 and its 200 day moving average is $231.85. The company has a quick ratio of 0.63, a current ratio of 1.13 and a debt-to-equity ratio of 0.69.

Becton, Dickinson and Company (NYSE:BDX) last announced its quarterly earnings results on Wednesday, February 5th. The medical instruments supplier reported $3.43 EPS for the quarter, beating analysts’ consensus estimates of $3.00 by $0.43. Becton, Dickinson and Company had a net margin of 8.47% and a return on equity of 15.74%. Sell-side analysts forecast that Becton, Dickinson and Company will post 14.43 EPS for the current fiscal year.

Becton, Dickinson and Company announced that its board has authorized a share repurchase program on Tuesday, January 28th that allows the company to repurchase 10,000,000 outstanding shares. This repurchase authorization allows the medical instruments supplier to buy shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Becton, Dickinson and Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 1.82%. The ex-dividend date is Monday, March 10th. Becton, Dickinson and Company’s dividend payout ratio is currently 69.10%.

Insider Activity at Becton, Dickinson and Company

In other news, EVP Shana Carol Neal sold 788 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $235.00, for a total value of $185,180.00. Following the completion of the sale, the executive vice president now owns 16,201 shares in the company, valued at approximately $3,807,235. This trade represents a 4.64 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeffrey William Henderson purchased 1,500 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The shares were purchased at an average price of $233.62 per share, for a total transaction of $350,430.00. Following the completion of the acquisition, the director now directly owns 8,015 shares in the company, valued at $1,872,464.30. The trade was a 23.02 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 4,984 shares of company stock worth $1,147,865. Company insiders own 0.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on BDX. Barclays boosted their price target on Becton, Dickinson and Company from $278.00 to $279.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. StockNews.com downgraded shares of Becton, Dickinson and Company from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, Piper Sandler raised their target price on shares of Becton, Dickinson and Company from $275.00 to $280.00 and gave the company an “overweight” rating in a research note on Tuesday, January 28th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, Becton, Dickinson and Company presently has a consensus rating of “Moderate Buy” and a consensus target price of $278.29.

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.